Walgreens (Dollar General Sublease) - Louisville, KY
Former Walgreens Subleased to Dollar General | Abs NNN | Louisville MSA | 14500+ VPD
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present for sale the property located at 4149 Taylor Boulevard in Louisville, Kentucky (the “Property” or “Asset”). This offering provides an investor the exceptional opportunity to acquire an asset with passive income guaranteed by a national tenant and operated by Dollar General. The property is subleased to Dollar General under terms assumed as per the primary lease terms. The Property is strategically positioned in a high-traffic urban corridor, benefiting from excellent visibility on Taylor Blvd (17,500+ VPD) and its close proximity to the heavily-traveled Dixie Hwy (53,600+ VPD). The Asset is embedded within a dense and essential retail hub, adjacent to the Hazelwood Shopping Center and surrounded by daily-needs tenants like Save-A-Lot.
Louisville is a dynamic and growing MSA, powered by its world-class logistics and healthcare industries. The city is home to UPS Worldport, the largest automated package handling facility in the world, making it a critical nerve center for global commerce. Its healthcare sector is a dominant economic driver, with major employers like Humana, Norton Healthcare, and UofL Health anchoring the local economy. The Property’s location benefits directly from significant public investment, including the recently completed "New Dixie Highway" project, which transformed the nearby major artery with infrastructure and safety upgrades, enhancing the commercial vitality of the entire corridor.
With a long-term, absolute triple-net (NNN) lease structure guaranteed by the original corporate tenant, the Property offers a truly passive income stream with zero landlord responsibilities.
This represents a rare opportunity to acquire a durable, long-term investment secured by strong national credit in a fundamentally strong location within a major U.S. metropolitan area.
This offering will be heading to auction via Real Insight Marketplace on December 15th, 2025 and will continue until December 17th, 2025. Link to the auction can be found in the offering memorandum.
Investment highlights
Strength of National Credit: Long-term Walgreens lease guarantees secure, passive income, with operations currently subleased to Dollar General—one of the largest discount retailers in the U.S.
Absolute Triple-Net (NNN) Lease: Zero landlord responsibilities for the duration of the term, offering investors a hands-off, bond-like income stream backed by the original corporate lease.
Term Remaining & Built-In Growth: Lease runs through May 2030, with eight 5-year renewal options featuring 5% rental increases, supporting durable long-term cash flow.
Prime Urban Retail Location: Positioned along the high-traffic Taylor Boulevard corridor with 17,500 vehicles per day, just off heavily traveled Dixie Highway (53,600 VPD).
Established Daily-Needs Trade Area: Surrounded by essential retailers including Save-A-Lot and anchored by the adjacent Hazelwood Shopping Center, driving consistent foot traffic.
Proximity to Medical Demand Drivers: Steps from the Hazelwood Specialty Clinic, drawing steady needs-based visitation from patients, healthcare staff, and the surrounding community.
Located in Growing Louisville MSA: Louisville benefits from strong economic fundamentals anchored by logistics (UPS Worldport) and a robust healthcare sector (Humana, Norton Healthcare, UofL Health).
Supported by Significant Public Investment: The recently completed “New Dixie Highway” modernization project improves regional mobility, safety, and long-term commercial demand.
Dense Surrounding Demographics: Over 223,000 residents within 5 miles and stable household income levels support long-term retailer performance.
Functional, Adaptable Building: 10,664 SF building on 0.17 AC with excellent site visibility, providing intrinsic value and strong future adaptability for alternate retail or medical users.
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