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1548 S Us Highway 421 - Family Dollar (Relocation Store), Harlan, KY

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1548 S Us Highway 421 - Family Dollar (Relocation Store)

Harlan, KY 40831-2501

Property Type:Retail Sub Type:- Status:Existing Year Built:1984
Building Size:12,596 SF Land Area:1.8 AC (78,408 SF)
For Sale Price:$1,050,000 Price/SF:$83.36
Cap Rate:7.53 %
Parking:61 Surface spaces are available; Ratio of 4.84/1,000 SF

Sale Notes:
Marcus & Millichap is pleased to present the Family Dollar on US-421 in Harlan, Kentucky. The offering is a 12,650 square-foot single tenant, free standing building, that has undergone extensive renovation in 2017, on an approximately 1.8-acre parcel. Family Dollar signed a brand new 10-year lease, with four, five-year renewal options with $0.50 per square foot rental increases beginning each option. The property is undergoing renovation up to Family Dollar specs including recent investment in the roof, brand new HVAC units and parking lot upgrades. The store is expected to open in September.

The subject property is located in Harlan, Kentucky with over 10,800 residents and average incomes over $43,000 within a five-mile radius. The demographics match what Family Dollar identifies as their core customer ; $40,000 average household incomes and age of 40. The site is located on the heavily traveled US-421 with over 14,300 vehicles per day. The subject property is surrounded by multiple traffic drivers. The Family Dollar is located near multiple national and regional tenants such as Walmart, Food City, Save-A-Lot, CVS, Hibbett Sports, Goody' s, Big Lots, Advance Auto Parts, O' Reilly, McDonald' s, Taco Bell, Pizza Hut, Hardees and more. The subject property is located near several schools with combined enrollments over 600. The offering is also located near Harlan ARH Hospital which has 145 beds, over 150 employees and had over 28,000 patients in 2016.

Marcus & Millichap Inc
Darpan Patel
(513) 878-7723

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