Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, 100% occupied, multi-tenant retail investment property located in Florence, Kentucky (Cincinnati MSA). The property totals 35,647 SF and consists of 2 freestanding buildings with Harley Davidson occupying 24,750 SF and Quaker Steak & Lube utilizing the remaining 11,077 SF. The offering consists of a diverse ecommerce resistant tenant lineup comprised of retail and service tenants creating a stabilized, income stream for a new investor. Both tenants operate under leases which are NNN in nature, limiting expense leakage for a future investor. The assets are in the process of being reparcelized and are being offered together or individually. See page 15 for individual pricing and details

The asset is strategically located near the junction of Interstate 71 and Highway 18, which serves over 194,000 vehicles per day. Furthermore, the site benefits from nearby access to U.S. Highway 42 (34,800 VPD) and State Highway 107 (18,500 VPD), making this an ideal, centralized location with easy commutes. The subject property is adjacent to Florence Square (515,162 SF) and Florence Mall (820,040 SF), two robust centers with numerous notable tenants including Kroger, TJ Maxx, Ross, Burlington, Hobby Lobby, Harbor Freight, and more. Other nearby national/credit tenants include Costco, Sam’s Club, Walmart Supercenter, Target, Home Depot, Lowes, Kohls, Meijer, Aldi, Tractor Supply, Big Lots, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the site is positioned among multiple multi-family complexes including The Grand at Florence (236 units), The Boulevard (216 units), The Paddock Club Apartments (200 units), and more, providing a direct residential consumer base from which to draw. Located just 11 miles from downtown Cincinnati, the 5-mile subject trade area is supported by more than 143,000 residents and 72,000 daytime employees who boast an average household income of more than $96,000.

Highlights

• Diverse Tenant Lineup | 100% Occupied | NNN Leases | Ecommerce Resistant Tenants
• Strong National/Credit Tenants | Florence Square (515,162 SF) | Florence Mall (820,040 SF) | Dense Retail Subject Trade Area
• Junction of Interstate 71 (143,300 VPD) & Highway 18 (51,600 VPD) Multiple Nearby Apartment Complexes | Heavily Traveled Corridor
• Strong Demographics in 5-Mile Trade Area | Cincinnati MSA

Documents

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