715 E Broadway - Storefront FOR SALE


Mayfield, KY 42066
$1,788,571 USD
248-688-0631
715 E Broadway, Mayfield, KY for Sale
$1,788,571 USD
Storefront - FOR SALE
1/5
null | 7.35% Cap Rate

715 E Broadway
Mayfield, KY 42066


HIGHLIGHTS

  • Brand New 10-Year Lease | Corporate Guaranteed | Scheduled Rental Increases | Brand New Relocation Construction
  • NN | Fee Simple Ownership | Limited Landlord Responsibilities
  • Along E. Broadway (13,900 VPD) | Nearby Communities Strong National/Credit Tenant Presence
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporate guaranteed, newly built, Family Dollar investment property located in Mayfield, KY. The tenant, Family Dollar Stores of Kentucky, LP, recently signed a brand new 10-year lease with 4 (5-year) option periods left to extend, demonstrating their commitment to the site. The lease features scheduled rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (S&P: BBB) and is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. The newly relocated built-to-suit property, which is estimated to open in 2024, features a state-of-the-art design using the highest-grade materials available. Family Dollar is strategically located along E. Broadway with clear visibility and access to an average of 13,900 vehicles passing by daily. The asset benefits from direct access onto State Route 121 (12,000 VPD), a partial beltway that directly connects to State Route 80 and Interstate 69, making this a centralized location with easy commutes. The surrounding retail trade area is supported by a strong mix of national and regional tenants including Lowe’s, CVS Pharmacy, FNB Bank, AutoZone, U.S. Bank, and others. The diversified tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes crossover store exposure for the site. Furthermore, Family Dollar is near numerous single-family communities and multi-family complexes including Windhaven (52 units), Mayfield Gardens (72 units), Mayfield Plaza (92 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 17,000 residents and 8,000 daytime employees, with an annual average household income of $62,243.

FOR SALE DETAILS

PRICE

$1,788,571 USD

PRICE/SF

$170 USD /SF

CAP RATE

7.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar and Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B-1

APN/PARCEL ID

203.00.31.012.00

ASK ABOUT THIS PROPERTY

Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

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Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.