INVESTMENT HIGHLIGHTS
LONG TERM TENANT: Kroger has been at this location for more than 60 years and recently extended their lease for 5 years demonstrating their commitment to the site and the market. Kroger has 5+ years remaining on their Modified Net Lease. Kroger’s lease calls for attractive 2.0% annual rent increases providing a steady increase in income and an attractive hedge against inflation.
OUTSTANDING STORE SALES: Kroger has capitalized on their strategic location with outstanding store sales. Kroger has consistently paid a percentage rent over the years and had sales of $15,856,094.88 ($551.55 per square foot) for the year ending on June 30, 2023, which resulted in a percentage rent of $20,360. Kroger pays 1% of the gross sales in excess of $2,880,000 up to sales in the amount of $4,916,000 which equates to $20,360, and an additional 1% of all sales in excess of $16,884,408.
STRATEGIC LOCATION: Kroger is well located along Wayne Avenue in Dayton and is just 1-mile from the University of Dayton, the second largest private university in Ohio with a total enrollment of approximately 12,000 students. The property is located along the municipal bus line and is the closest grocery store/supermarket to the campus.
