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Dollar Tree | New 10yr Corp NN w/ Incrs 224 S Main St 11,962 SF Retail Building Franklin, KY 42134 $1,642,000 ($137.27/SF) 7.25% Cap Rate
Investment Highlights
- Brand New 10-Year Lease | Options To Extend | Low Rent PSF
- Signalized, Hard-Corner Intersection (19,100 VPD) | Retail Corridor | Strong National/Credit Tenant Presence
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Executive Summary
• 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
• 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
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,962 SF
Building Class
C
Year Built/Renovated
1999/2025
Price
$1,642,000
Price Per SF
$137.27
Cap Rate
7.25%
NOI
$119,045
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.19 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
59 Spaces (4.93 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Dollar Tree
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Dollar Tree | Retailer | 99,999 SF | - | Lorem Ipsum | - |
Walk Score®
Very Walkable (70)
Nearby Major Retailers
Property Taxes
| Parcel Number | 013-00-26-007.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,832,142 |
Property Taxes
Parcel Number
013-00-26-007.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,832,142
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Dollar Tree | New 10yr Corp NN w/ Incrs | 224 S Main St
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