Kohl’s with Upside in QSR Outparcel- Lexington
150 Kohls Drive, Nicholasville, Kentucky, USA Map
Prime Freestanding Retail Location with Upside in Outparcel
Listing Price $9,200,000
| Status | Closed |
| Lease Type | Double Net |
| GLA (Sq. Ft.) | 82,982 |
| NOI | $625,401 |
| Lease Term Remaining | 9.0 Years |
| Increases | 5% Every 5 Years in Options |
| Options | Six (6), 5-Year Options |
| State (BOR) | KY |
| Broker of Record | Colby Haugness |
| License # (BOR) | Lic.# 00241410 |
| Close Date | Apr 28, 2021 |
Investment Highlights
- New 12-Year Lease with 9 Years Remaining, Limited Landlord Responsibility with Corporate Guaranty by Kohl’s
- Top-Performing Trophy Kohls Location with Recent Lease Extension
- Bonus Near-Term Upside in Leasing the New QSR Out-Parcel Approved by Kohl’s
- Hedge Against Inflation in Options as Lease Provides for 5 Percent Increases
- Nicholasville has an Above Average Household Income of $88,000 within Five Miles
- In 2019, Kohl’s Began Accepting Amazon Returns for Free at All Stores Nationally, Driving In-Store Foot Traffic | Sephora to Open Shops Inside 850 Kohl’s by 2023
Investment Overview
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100 percent fee simple interest in the single-tenant Kohl's retail property located at 150 Kohl's Drive in Nicholasville (Lexington), KY (the Property). Build-to-suit for Kohl's in 2003, the Property comprises a +/- 83,000 SF building on a large +/- 8.6-acre parcel, that is strategically positioned along US Route 27 with nearly 50,000 vehicles per day.
