3421 Broadway Louisville, KY 40211
- Retail properties
- 10,560 SF
Current Use by Public Records
- Matthew D. Brooks, PharmD / Pharmacy
- PNC ATM / Atm
Property Details for 3421 Broadway
- Property size
- 10,560 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 10,560 square foot Family Dollar storefront located at 3421 W Broadway, Louisville, KY 40211. The property, a single-story building, underwent a complete renovation in 2013 and boasts a 100% occupancy rate. The current lease, a modified net lease with rent bumps and options, commenced June 29, 2013, and expires June 28, 2028, leaving approximately 3.6 years remaining. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree, a Fortune 500 company with an investment-grade credit rating. The property generates a strong net operating income (NOI) of $90,293, resulting in an attractive 9.0% cap rate at an asking price of $1,000,000. Situated in a prime location within Louisville's residential neighborhoods, this property benefits from a dense population base exceeding 85,000 residents within a 3-mile radius and over 215,000 within 5 miles. The success of this location is further evidenced by Family Dollar's recent 5-year lease renewal in 2023. This is a rare opportunity to acquire a high-performing, credit-rated net lease property in a densely populated area with significant growth potential. The property's strong performance and favorable lease terms make it an ideal addition to any investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.8097
- Latitude
- 38.2502
