Walgreens: Louisville, KY (Dixie Hwy)
Retail | 6.50% CAP | 13,905 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 13,905-square-foot Walgreens positioned on 1.57 acres in Louisville, Kentucky (MSA Population: 1.3M+). The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
NNN LEASE WITH RENEWAL OPTIONS: The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
EXCELLENT ACCESS & VISIBILITY: Located less than 5 miles south of downtown Louisville, Walgreens is positioned with excellent access and visibility at the signalized intersection of Dixie Highway (26,507 VPD) and Crums Lane (14,268 VPD).
RETAIL & COMMERCIAL CORRIDOR: In total, there are 4.3 MSF of retail, 1.5 MSF of office, 16.8 MSF of industrial and 10,703 multifamily units within a 3-mile radius. Major retailers in the surrounding area include Harbor Freight, Rent-A-Center, AutoZone Auto Parts, Dollar General, Foot Locker, GameStop, a Ford dealership and a Nissan dealership, to name a few.
LOUISVILLE-JEFFERSON COUNTY, KY-IN MSA: Louisville, the state’s largest metropolitan area (MSA Population: 1.3M+), is a vibrant riverfront city with a rapidly growing population, diversification of employment and attractive multifamily supply/demand balance. Known for hosting the annual Kentucky Derby and its horse-racing industry, the metro is a nationally recognized regional distribution and warehousing hub serving major operations including Amazon.com, UPS, Ford Motor Company and General Electric, among many others. With a very successful series of major distribution facilities now open and future capital investments in distribution parks planned, Louisville continues to be the focus of institutional investment.
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