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3516 Dixie Hwy
Erlanger, KY 41018
CVS Pharmacy · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Zero cashflow - long term lease (17.5 years).
- Includes paydown readvance feature.
- Assumable debt at 3.90% interest rate.
- Absolute net bond lease.
EXECUTIVE SUMMARY
$870,970 EQUITY REQUIREMENT
29% OVER DEBT
CURRENT DEBT BALANCE: $3,003,345
The property is located at the corner of a signalized intersection adjacent to numerous national credit tenants including Advance Auto Parts, Family Dollar, Midas and 0.5 miles from a shopping center with tenants such as Kroger, McDonalds, Wendy’s, Chase, United States Postal Service and more.
29% OVER DEBT
CURRENT DEBT BALANCE: $3,003,345
The property is located at the corner of a signalized intersection adjacent to numerous national credit tenants including Advance Auto Parts, Family Dollar, Midas and 0.5 miles from a shopping center with tenants such as Kroger, McDonalds, Wendy’s, Chase, United States Postal Service and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
9,516 SF
Building Class
B
Year Built
2016
Price
$3,874,315
Price Per SF
$407.14
Cap Rate
7.13%
NOI
$276,285
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.32 AC
Parking
50 Spaces (5.25 Spaces per 1,000 SF Leased)
Frontage
345’ on Dixie Hwy
AMENITIES
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 003-40-35-009.00 | Improvements Assessment | $2,258,000 |
| Land Assessment | $656,000 | Total Assessment | $2,914,000 |
PROPERTY TAXES
Parcel Number
003-40-35-009.00
Land Assessment
$656,000
Improvements Assessment
$2,258,000
Total Assessment
$2,914,000
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