Investment Overview

Marcus & Millichap is pleased to present two freestanding retail buildings located in the heart of Florence, Kentucky. The opportunity consists of a single tenant net lease 24,570 square feet Harley-Davidson dealership coupled with a freestanding 11,077 square feet vacant restaurant building. The properties were built in 2012 situated on 3.3-acres of land. Harley-Davidson has approximately three years remaining on their current term after exercising their 1st of three options in 2022 with two percent annual increases through the terms and options. The current location High-Stakes Harley-Davidson has operated at this location for over 12 years and is part of the Harley-Davidson of Cincinnati dealership, the largest and oldest Harley-Davidson dealership in the tri-state area. Placer.ai ranks High Stakes Harley-Davidson in the top 11 percent of dealerships in the country, number three of seven in state of Kentucky and number one in a 30 miles radius of the property. This opportunity also provides investors with a value-add component with the vacant 11,077 square feet freestanding restaurant. Formerly Quick Steak & Lube, the building is comprised of 8,709 square feet of restaurant space with approximately 2,368 square feet of outdoor seating. Both properties are priced well below replacement cost providing an attractive opportunity to purchase at a low basis to add value. According to public records the property is zoned B2. This type of commercial zoning is available to wholesale businesses and large-site retail concepts. Notably, the site sits on an outparcel to the 890,000 square feet Florence Mall, a major destination for the region with approximately 100+ stores. In addition to the adjacent Florence Mall the subject property is surrounded by over five million square feet of national, regional and local tenants in a 1.5-mile radius. The property is strategically positioned with excellent accessibility, situated near the I-70 and I-75 highways, with a daily traffic count exceeding 160,000 cars per day. This accessibility ensures the property’s visibility and ease of access for consumers, further enhancing the potential of current and future tenant’s success in serving the local market. Located in a dense infill location, the property benefits over 141,000 people within a five-mile radius with an average household income of over $98,000. Florence is one of the fastest-growing communities in Kentucky, and serves as a significant hub for both national and regional retailers.