1026 Madison Ave Covington, KY 41011

This is a single tenant freestanding Dollar Tree property with over 12,400 square feet, situated in the heart of Covington, KY. The property is positioned along Madison Avenue, the main road that leads directly to Downtown Covington, experiencing traffic of over 15,000 cars per day. The improvements include a former Walgreens that was backfilled by Dollar Tree in 2014. The building is significantly larger than Dollar Tree's standard prototype, and this location features an expansive merchandise catalogue to cater more to the immediate trade area. Dollar Tree's rental rate is lower than market rents in a high barriers to entry trade area with extremely limited single tenant vacancy in the Covington market. The property benefits from exceptional demographics, with a 3-mile population north of 113,000 people earning an average household income of $52,000 per year. The property is minutes from the Clay Wade Bailey Bridge, the only bridge in Covington crossing the Ohio River and leading to Downtown Cincinnati, where Paul Brown Stadium (Cincinnati Bengals) and the Great American Ball Park (Cincinnati Reds) are located. Dollar Tree corporately operates over 15,500 stores across the US and 5 Canadian Provinces, has over 193,000 employees system-wide and recently received an upgrade to its investment grade credit rating going from "BBB-" to "BBB" in February '21.