Current Use by Public Records
- Lifestyle centers
Property Details for 224 Park Ln
- Lot size
- 1.22 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 15,321 square foot shopping center in Lawrenceburg, Kentucky, anchored by a Dollar Tree. The property boasts a highly desirable Net Lease (NNN) structure, minimizing landlord responsibilities. The current lease with Dollar Tree has 7 years remaining, providing long-term stability and predictable cash flow. The tenant recently extended their lease, demonstrating confidence in the location and its performance. The property is strategically situated just off the Bypass at its intersection with Broadway Street, ensuring high visibility and accessibility. The building comprises 8,500 square feet currently occupied by Dollar Tree, plus an additional 6,821 square feet of vacant space offering potential for future income generation or expansion. The asking price is $790,000, representing a compelling $51.56 per square foot and an attractive 8.61% cap rate, based on a Net Operating Income (NOI) of $68,000. The property sits on a 1.22-acre lot and is zoned B-1. This presents a rare chance to acquire a well-located, income-producing asset with a strong national tenant and significant upside potential. The property's location and the strength of the Dollar Tree lease make this an ideal addition to any investment portfolio.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lawrenceburg
- County
- Anderson
- State
- Kentucky
- Longitude
- -84.9075
- Latitude
- 38.02
