29 Olive St
La Center, KY 42056
Family Dollar · Retail Property For Sale

Transwestern Commercial Services, Fort Worth, LLC is pleased to present for sale a Family Dollar single-tenant double net leased investment property consisting of approximately 8,000 square feet on a 1.07-acre site at 29 Olive Street, LaCenter, Kentucky 42056 (“Property”). The building was constructed as a build-to-suit for Family Dollar in 2012 with an initial term of ten (10) years. The site offers approximately thirty (30) parking spaces. While the lease currently expires June 30, 2022, the Seller is in the process of finalizing an early lease extension that will provide a new expiration date of June 30, 2027 providing more than seven (7) years of remaining term. Provided the lease is extended another five (5) years, the term will of the lease will also automatically be extended one period at a time for five (5) additional successive periods of five (5) years each unless Tenant gives written notice to Landlord cancelling the next extended term at least ninety (90) days before the extended term is scheduled to begin. The term of the lease will be automatically extended one period at a time for six (6) successive periods of five (5) years each unless Tenant gives written notice to Landlord cancelling the next extended term at least ninety (90) days before the extended term is scheduled to begin. Each successive five (5) year lease extension shall be subject to an annual rent increase of 10% each. The lease is also subject to Tenant paying percentage rent as follows: Initial term of the lease: three (3%) percent of gross sales in excess of $2,650,000 per year and each subsequent renewal term with a 10% increase thereafter. LaCenter, Kentucky is the city with the largest population in Ballard County and boasts a diverse exchange of ideas and people. LaCenter is in the Paducah, Kentucky micropolitan area and is approximately 150 miles northwest of Nashville, Tennessee and 168 miles southeast of St. Louis, Missouri. The population of LaCenter is approximately 1,000 residents with a five (5) mile radius population of 3,688 and 11,415 within a ten (10) mile radius. The median household income within a five (5) mile radius is $44,555 and average household income of $66,109. The ten (10) mile median household income is 50,672 and the average household income is $67,968.