family dollar exclusive listing | louisville, ky

Family Dollar | Louisville, KYOffering Memorandum

ANDREW FALLONEXECUTIVE MANAGING DIRECTOR

(703) 787-4733 [email protected]

JOHN LENIHANPRINCIPAL BROKER

Lenihan Commercial Properties(502) 368-6611

EXCLUSIVE LISTINGOffering Memorandum

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C A L K A I N .C O MC A L K A I N .C O M

Family Dollar | Louisville, KY


4126 Taylor Blvd | Louisville, KY 40215

Asking Price $900,000 | Cap Rate 7.87%

Net Operating Income (NOI) $70,785.12

Rent/Month $5,898.76

Rent/SF $8.94

Rentable Square Feet 7,920+/- SF

Land Area 0.44+/- Acres

Tenant Name Family Dollar

Credit Rating S&P: BB+

Stock Symbol NASDAQ: DLTR

Guarantor Corporate

Ownership Type Fee Simple

Lease Type NN

Landlord Responsibilities Roof & Structure

Store Opened June 1, 2005

Lease Term Remaining 9+ Years

Rent Commencement June 2005

Lease Expiration June 2026

Increases 10% Every 5 Years

Options Four (4), Five (5) Year

Rent Schedule

Term Increases Annual Rent Monthly Rent Rent/SF6/30/2016 - 6/30/2026 - $70,785.12 $5,898.76 $8.94

6/30/2026 - 6/30/2031 10% $77,863.63 $6,488.64 $9.83

6/30/2031 - 6/30/2036 10% $85,649.99 $7,137.50 $10.81

6/30/2036 - 6/30/2041 10% $94,214.99 $7,851.25 $11.90

6/30/2041 - 6/30/2046 10% $103,636.49 $8,636.37 $13.09

Investment Highlights • Long-term tenant with over 10 years on site

• Extremely supportive demographics with population of 227,746 and targeted income within 5 miles

• Highly committed to this site- recently extending lease early to 10 years

• Newly installed roof with 15 year transferable warranty

• Low rent to sales ratio near 5% and sales PSF 22% above national unit average

• Highly profitable store with exceptional sales per square foot

• Located within 2 miles to Churchill Downs and 3 miles to University of Louisville

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Financial Summary


Dollar Tree Completes Acquisition of Family Dollar• Creates combined organization with sales exceeding $19 billion annually with

more than 13,600 stores across 48 states and five Canadian provinces

CHESAPEAKE, VA – July 6, 2015 – Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading operator of discount variety stores selling everything for $1 or less, announced today that it has completed the acquisition of Family Dollar Stores, Inc., a leading national discount retailer offering name brands and quality, private brand merchandise.

About Family DollarOne of the nation’s fastest growing retailers, Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.

About Dollar TreeDollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia, and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of ten distribution centers. The company operates one-dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi-price-point variety chain under the name Deals.

Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.

Tenant Snapshot# Locations

13,600+

Stock Symbol

NASDAQ: DLTR

Credit Rating

S&P: BB+

Market Cap

22.44B

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Tenant Overview


Distance To:Lexington, KY 80 miles

Cincinnati, OH 106 miles

Indianapolis, IN 122 miles

Nashville, TN 174 miles

Louisville, KY

Nashville, TN

Location Overview

Subject Site

Indianapolis, IN

Cincinnati, OH

Lexington, KY

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Subject Site

Louisville International

Airport

DowntownLouisville

KentuckyOne Health - Sts.

Mary & Elizabeth Hospital

264

264

Louisville Zoo

Kentucky Expo Center

Ohio

Riv

er

OldLouisvilleProperty Overview

Great price point Family Dollar available now in Louisville KY. This store is highly profitable and has been operating on the site for over ten years and opted to extend the lease out to a ten-year term. This speaks volumes about the commitment to the location. The store is perfectly placed surrounded by over 227,746 people with a targeted income of $46,500. The site is less than 5 miles from the Tulsa International Airport and 2 miles from US 75. There are almost 25,000 VPD. This unit is above the national average for sales per square foot and thus has a very low rent to sales ratio near 5%. This asset also offers percentage rent of 3% over a break point.

I-264 111,591 VPD

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Subject Site 264

Taylor Blvd 24,800 VPD

Hazelwood Elementary

School

Hazelwood Shopping CenterDerby City Appliance Parts

Nails FirstGreg’s Barber ShopJoy Beauty SupplyBella’s Diner

Iroquois High

School Magnet Career

Academy

I-264 111,591 VPD

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Site Photos

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Site Photos

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Louisville, KYLouisville is the largest city in the Commonwealth of Kentucky and the 30th most populous city in the United States. It is one of two cities in Kentucky designated as first-class, the other being the state’s second-largest city of Lexington. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County.

Louisville was founded in 1778 by George Rogers Clark and is named after King Louis XVI of France, making Louisville one of the oldest cities west of the Appalachian Mountains. Sited beside the Falls of the Ohio, the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico, the settlement first grew as a portage site. It was the founding city of the Louisville and Nashville Railroad, which grew into a 6,000-mile (9,700 km) system across 13 states. Today, the city is known as the home of the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Louisville Cardinals athletic teams, Louisville Slugger baseball bats, and three of Kentucky’s six Fortune 500 companies. Its main airport is also the site of United Parcel Service’s worldwide air hub.

Since 2003, Louisville’s borders have been the same as those of Jefferson County because of a city-county merger. The official name of this consolidated city-county government is the Louisville/Jefferson County Metro Government, abbreviated to Louisville Metro. Despite the merger and renaming, the term “Jefferson County” continues to be used in some contexts in reference to Louisville Metro, particularly including the incorporated cities outside the “balance” which make up Louisville proper. The city’s total consolidated population as of the 2014 census estimate was 760,026. However, the balance total of 612,780 excludes other incorporated places and semiautonomous towns within the county and is the population listed in most sources and national ranking.

The Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA), sometimes also referred to as Kentuckiana, includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana. As of 2014, the MSA had a population of 1,269,702, ranking 43rd nationally.

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Market Overview


Radius 1 Mile 3 Miles 5 MilesPopulation2016 Population 17,964 98,055 227,746

2021 Population 18,435 99,996 231,460

2010-2016 Annual Rate 0.44% 0.24% 0.15%

2016-2021 Annual Rate 0.52% 0.39% 0.32%

2016 Male Population 48.0% 48.3% 48.4%

2016 Female Population 52.0% 51.7% 51.6%

2016 Median Age 36.4 36.5 36.5

Households2016 Total Households 7,495 39,400 95,182

2021 Total Households 7,670 40,111 96,717

2010-2016 Annual Rate 0.30% 0.14% 0.08%

2016-2021 Annual Rate 0.46% 0.36% 0.32%

2016 Average Household Size 2.38 2.43 2.33

Median Household Income2016 Median Household Income $30,044 $34,904 $33,276

2021 Median Household Income $29,660 $34,238 $32,648

Average Household Income2016 Average Household Income $42,101 $46,659 $46,672

2021 Average Household Income $44,953 $50,095 $50,213

2016-2021 Annual Rate 1.32% 1.43% 1.47%

Per Capita Income2016 Per Capita Income $17,461 $19,125 $19,826

2021 Per Capita Income $18,572 $20,471 $21,286

2016-2021 Annual Rate 1.24% 1.37% 1.43%

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Demographics


ANDREW FALLONEXECUTIVE MANAGING DIRECTOR

(703) 787-4733 [email protected]

JOHN LENIHANPRINCIPAL BROKER

Lenihan Commercial Properties(502) 368-6611

Who Are We? Calkain Companies LLC is a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.

We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.

Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.

With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.

Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.

Client Testimonial

“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.

–Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)

$11.5 Billion in Closed Transactions

$350 Million

in Active Listings

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C A L K A I N .C O MC A L K A I N .C O M

About Calkain

DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783

South Florida300 S. Pine Island Road | Suite 300 Fort Lauderdale, FL 33324 T: (813) 282-6000

Atlanta111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629

Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584

CALKAIN.COM

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family dollar exclusive listing | louisville, ky

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