$7,985,000 6.20% cap rate€¦ · tenant profile: lowe’s companies, inc. (nyse: low) (s&p:...
TRANSCRIPT
Investment Highlights:
• Long term absolute triple net ground lease with a rare parent company guaranty
• Lowe’s has been at this site for over 25 years and built two stores in that time period
• Lowe’s (NYSE: LOW) (S&P: A-Stable) is a FORTUNE® 50 company with 2016 sales of $65B and 2,365 stores in the U.S., Canada and Mexico
• Mayo Plaza is a dominant regional shopping center with a trade area population over 66,800
• Other anchor tenants include Food City, Ollie’s Bargain Outlet, Peebles, Big Sandy Superstore and a Walmart shadow anchor
• Daily traffic counts of 13,700 in front of the property on the market’s primary retail and restaurant corridor
• Positioned between a busy Walmart and Johnson County High and Middle Schools with a combined 1400+ students
• Paintsville is the county seat and a business, education, arts, recreation and leisure hub for the eastern Kentucky region
$7,985,0006.20% Cap Rate
109,440 Square Feet13.05 Acres
527 North Mayo TrailPaintsville, KY 41240
Subject Property
2016 Demographics: 20 Mile RadiusPopulation - 77,096
Median Household Income - $33,637
Average Household Income - $47,963
Tenant Profile: Lowe’s Companies, Inc. (NYSE: LOW) (S&P: A-Stable) is a FORTUNE® 50 company and the world’s second largest home improvement retailer serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2016 sales of $65.0 billion, Lowe’s and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Founded in 1946 and based in Mooresville, North Carolina, Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit www.lowes.com.
www.REALTYLINKDEV.com
For property information:J. Tyson Glasser, CCIM • Investment Sales Director
[email protected] • 864.263.5427 o • 404.435.6312 c