For Sale
$775,000

63 Depot AveEminence, KY 40019

High-yield Kentucky storefront, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 9,100 square foot Family Dollar storefront located at 63 Depot Ave, Eminence, KY 40019. The property sits on a 0.45-acre lot and boasts a strong 9.51% cap rate, generating a net operating income (NOI) of $73,700. Built in 2007, this single-tenant property benefits from a Net Net (NN) lease structure with minimal landlord responsibilities, placing the burden of most property expenses on the tenant. Family Dollar, a credit-rated tenant (BBB with S&P and baa2 with Moody's), holds a lease with a remaining term of approximately 2.6 years, expiring June 30, 2027, and includes two 5-year renewal options. Rent increases by 10% every five years. The property enjoys a prime location with high visibility, experiencing over 7,000 vehicles daily on S Main St and over 4,000 on E Broadway. The surrounding area shows positive population growth, with over 2,000 residents within a 1-mile radius and over 3,500 within 3 miles. The asking price is $775,000, translating to $85.16 per square foot. The lease includes a tenant option to terminate with 180 days' notice, commencing July 1, 2023. This property offers a compelling combination of strong tenant, favorable lease terms, and a high-yield return, making it an attractive addition to any investment portfolio. 100% occupancy ensures immediate cash flow.

Highlights

  • 9,100 SF Family Dollar in Eminence, KY.
  • Louisville, KY MSA, ranked #45 in the USA.
  • Net-Net (NN) lease with minimal landlord responsibilities.
  • Family Dollar has an investment-grade credit rating (BBB/baa2).
  • Strong demographics: 2,000+ residents within 1 mile, 3,500+ within 3 miles.
  • Projected 1.21% population growth within 3 miles in the next five years.

Property Details for 63 Depot Ave

Property type
Retail properties, Retail space
Square Feet
9,100 SF
Year Built
2007
Lot Size (sq. ft)
19,602 SF

Location Insight

City
Eminence
County
Henry
State
Kentucky
Latitude
38.3703319
Longitude
-85.1814292
63 Depot Ave, Eminence, Kentucky

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63 Depot Ave
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