2021 S Highway 53
La Grange, KY 40031

The subject property is a single tenant brick construction O' Reilly Auto Parts store located in La Grange, KY 20 miles outside of Louisville, KY. The property is currently under construction with an estimated delivery date in February 2017. The area has strong demographics with an average household income within 5 miles of $92,623. There is a new 20 year NN lease in place with a 6% rent increase in year 11 of the initial term and each renewal option thereafter. The estimated lease commencement is February 2017. The lease is backed by a corporate guarantee from O' Reilly Automotive Inc., with an S&P Investment Grade Credit Rating of BBB+. The property is being offered at a 5.25% cap and a blended cap rate over the initial term of 5.41%. The property is located on South Highway 53 along the main retail corridor of La Grange, KY, less than ½ mile from Interstate 72. In addition to being surrounded by dozens of national retail tenants, this location is within a 1 mile radius of several auto repair/tire shops, an Enterprise Rent-A-Car and a Chevrolet/GMC dealership. The property is located in an affluent neighborhood with an average household income of $92,000 within 5 miles. La Grange, KY is a part of the Louisville/Jefferson County KY-IN metropolitan statistical area, population 1,400,000.