4072 Garrett Rd
Ekron, KY 40117
Family Dollar · Retail Property For Sale

Marcus & Millichap is pleased to offer for purchase a brand new freestanding, fee simple 8,320 square foot Family Dollar located in Ekron, Kentucky. Ekron is located ± 45 miles southwest of Louisville in Meade County near the Kentucky/Indiana border. The subject property is strategically situated on a ± 1.22 acre parcel. Construction of the subject property was recently completed and the store opened on August 17, 2017. This investment is accompanied by a corporately guaranteed lease. The initial term of the lease is for 10 years and contains six (6), five-year renewal options all with rent escalations during each five-year period. Family Dollar was acquired by Dollar Tree Stores, Inc., which is a publicly traded company on NASDAQ with the ticker symbol ‘DLTR’. In 2016, Dollar Tree reported annual revenues of $20.7 billion with a net worth of $5.4 billion. Ekron is located within the Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA), the 43rd largest in the United States, includes the Kentucky county of Jefferson (coterminous with Louisville Metro), plus twelve outlying counties—seven in Kentucky and five in Southern Indiana. Louisville's MSA is included in the Louisville–Elizabethtown–Madison, KY–IN Combined Statistical Area (CSA), which also includes the Elizabethtown, KY MSA, as well as the Madison, IN Micropolitan Statistical Area. This investment opportunity is offered at a purchase price of $1,140,707, reflecting a 7.50% cap rate. Based upon a market debt quote, we project the initial cash-on-cash return of 9.04%.