Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the 2 single-tenant, absolute NNN leased, freestanding, drive-thru equipped, retail assets located in Alexandria, KY (Cincinnati MSA). The tenants, Popeyes and Dunkin’, will be signing brand new 15-year leases with 5 (5-year) option periods to extend at
the close of escrow, demonstrating their commitment to the site. Both tenants feature 1.50% annual rental increases throughout their initial terms and options, steadily increasing NOI and hedging against inflation. Both tenants are leaders in their sectors and operate under absolute NNN lease structures, making this an ideal, management-free investment opportunity for a passive investor.

The subject properties are strategically located along Alexandria Pike with clear visibility and access to an average of 38,400 vehicles passing by daily. Alexandria Pike / U.S. Highway 27 connects directly to Interstate 471, making the sites a quick 20-minute drive into Downtown Cincinnati. The assets are ideally situated within a dense retail trade area with many nearby national/credit tenants including Tractor Supply Co., O’Reilly Auto Parts, Walmart Supercenter, Dunham’s Sports, Harbor Freight Tools, McDonald’s, and others. The strong tenant synergy significantly increases the consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is near numerous single-family communities and multi-family complexes including Glen Hollow (168 units), The Elevation (327 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 31,800 residents and 9,100 daytime employees. Residents within 1-, 3-, and 5-miles of the subject boast an affluent average household income of $116,384, $119,646, and $111,481, respectively.

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