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3516 Dixie Hwy
Erlanger, KY 41018
Retail Property For Sale
Investment Highlights
- LONG TERM LEASE (16.5 YEARS) - Primary Term expires 1/31/2043. CVS has operated from this location since 2017.
- EXCELLENT LOCATION - adjacent to numerous national credit tenants including Advance Auto Parts, Family Dollar, Midas and more.
- STRONG DEMOGRAPHICS - Average Household Income in a 3-mile radius is $101,771 in a population of 140,482 in a 5-mile radius.
- ABSOLUTE NET BOND LEASE - No Landlord Responsibilities
- Located at a signalized intersection on Dixie Highway.
- CORPORATE GUARANTEE - The lease is corporate guaranteed by CVS Health Corporation.
Executive Summary
Seller to credit 100% of the future free rent period via US Treasuries at closing or cash equivalent ($533,528)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
9,516 SF
Building Class
B
Year Built
2017
Price
$6,095,687 CAD
Price Per SF
$640.57 CAD
Cap Rate
6.25%
NOI
$380,980 CAD
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 | $3,113,646 CAD |
| Land Assessment | $904,585 CAD | Total Assessment | $4,018,231 CAD |
Property Taxes
Parcel Number
003-40-35-009.00
Land Assessment
$904,585 CAD
Improvements Assessment
$3,113,646 CAD
Total Assessment
$4,018,231 CAD
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