Investment Overview

Marcus & Millichap is pleased to present for sale The Dixie Center, a two-tenant, net-leased, 6,500-square foot retail property in Louisville, Kentucky. The Dixie Center was built in 1999. Current ownership replaced the roof in 2014, installed LED lighting in 2018 and replaced the A/C units in 2021. The Dixie Center is 100% leased with an excellent mix of internet-resistant and recession resilient tenants. The Property has a long history of high occupancy. Advance America has been operating at this location since 1999 and has a lease in place until August 2027, Buddy’s Furnishings has been operating at this location since 2013 and recently extended their lease until April 2029; both showcasing long-term commitment to this location. Advance America was acquired by Purpose Financial, a large financial service corporation with over 1,000 locations and 2,700 employees, in 2020. The acquisition reflects the company’s future evolution in becoming a family of brands offering a suite of consumer credit products. Additionally, this Buddy’s Home Furnishings location was acquired by Bebe Stores, Inc., a publicly-traded retailer based out of San Francisco, in 2021 and now operates under the corporate parent company. Bebe Stores, Inc. has approximately 55 Buddy’s Home Furnishings locations with the additional franchise rights to open more stores throughout the Midwest. The Dixie Center sits on 0.50 acres of prime real estate along Dixie Highway, one of Louisville’s main north and south corridors that connects outer suburbs directly into downtown Louisville. The Property also benefits from multiple points of ingress/egress as the Dixie Center sits in between Dixie Highway and 7th Street Road and benefits from combined traffic counts of approximately 32,000 vehicles-per-day and is also just blocks north of Interstate 264 which experiences approximately 91,000 vehicles-per-day. This offering provides an incoming buyer an investment with a diversified mix of internet-resistant and recession-resilient tenants that cater to the immediate neighborhood and surrounding businesses. The Dixie Center also operates under net leases, significantly lowering landlord responsibilities and offering a passive income stream with virtually little to no management.