2 Tenant Absolute NNN Investment | Cincinnati MSA

8025 Action Blvd, Florence, KY 41042, USA
$6,526,979

Description

Marcus & Millichap is pleased to present for sale this Two Tenant Absolute Net Leased opportunity at 8025 Action Blvd in Florence, Kentucky. The subject property consists of two buildings leased by Quaker Steak & Lube and Thoroughbred Harley-Davidson comprised of a total of 35,647 square feet of retail space and situated on a large 3.3-acre parcel of land approximately 12 miles southwest of downtown Cincinnati, and eight miles from the Cincinnati-Northern Kentucky International Airport.
Strategically located on Action Blvd along Interstate-75 and Interstate-71, the property is highly visible to more than 121,317 vehicles per day. It also features excellent access and sits on an outparcel to the Florence Mall, an 973,371-square foot regional shopping center with more than 100 stores, inclusive of anchor stores – Macy’s and JCPenney. Florence Mall is a 2-level enclosed shopping destination which caters to the growing residential area and serves an estimated 4M visitors annually. Some of the other established outparcels include Olive Garden, Smokey Bones, BJ’S Brewhouse, and Cinemark. The property is part of a dense retail corridor which is home to a number of National and Regional retailers including but not limited to Costco, TJ Maxx, Chipotle,
Five Guys, Home Depot, Kohl’s, Sam’s Club, Target, Walmart and many more. The property sits just in the outskirts of Downtown Cincinnati and benefits from over 138,000 full time residents in the immediate trade area.
Built in 2012, the property is 100 percent leased with two synergistic tenants that enhance their respective success. Quaker Steak & Lube has over 11 years of term on their lease term. The lease features attractive 2 percent annual increases through the Primary Term and in the Four 5-Year Option Periods. Thoroughbred Harley Davidson exercised one of their option periods early, showing strong commitment to their site, and have over six years remaining in their current term. The lease also features attractive 2 percent annual increases through the Current Term and in the two 5-Year Option Periods remaining.

    • 100% Leased Absolute NNN Investment
    • Absolute NNN Leases | Zero Landlord Responsibilities
    • Attractive 2% Annual Rent Increases
    • Incredible Real Estate | Destination Retail Trade Area
    • Just a few miles from Downtown Cincinnati
    • Less than 10 Minutes from Cincinnati/Northern Kentucky International Airport
    • Great Visibility Along Interstate 71 & 75 | Visible to More than 121,317 Vehicles Per Day
    • Dense Infill Location | Excellent Demographics
    • Positioned Along Area’s Major Retail & Traffic Corridor
    • Fee Simple Allowing for Depreciation

Property Documents

  • Harley-Davidson-Quaker-Steak-Florence-KY-om-ib
  • City: Florence
  • State/county: Kentucky
  • Zip/Postal Code: 41042
  • Country: United States

Detail

  • Price: $6,526,979
  • Year Built: 2012

Additional details

  • CAP RATE: 7.20%
  • NOI: $469,477

Features