224 S Main St - Drug Store FOR SALE


Franklin, KY 42134
$1,642,000 USD
949-903-8099
224 S Main St, Franklin, KY for Sale
$1,642,000 USD
Drug Store - FOR SALE
1/6
null | 7.25% Cap Rate

224 S Main St
Franklin, KY 42134


HIGHLIGHTS

  • Brand New 10-Year Lease | Options To Extend | Low Rent PSF
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Signalized, Hard-Corner Intersection (19,100 VPD) | Retail Corridor | Strong National/Credit Tenant Presence

OVERVIEW

• The tenant, Dollar Tree Stores, Inc., recently signed a brand new 8-year lease, with 4 (5-year) options to extend, that will commence after the current tenant, Walgreens, lease ends in April 2027 • The lease features rental increases of $0.50/SF/YR in year 5 and at the beginning of each option period, steadily growing NOI and hedging against inflation • Pricing is based on the year 1 NOI of the Dollar Tree lease, allowing investors to benefit from uncapitalized Walgreens rent through 2/28/2027 • The Walgreens lease currently in place is absolute NNN

FOR SALE DETAILS

PRICE

$1,642,000 USD

PRICE/SF

$137 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree | New 10yr Corp NN w/ Incrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

59

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

Commercial

APN/PARCEL ID

013-00-26-007.00

ASK ABOUT THIS PROPERTY

Jake PraterSRS National Net LeaseMore Info
949-903-8099

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Jake PraterSRS National Net LeaseMore Info
949-903-8099

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.