Northside Plaza

Investment Highlights

NORTHSIDE PLAZA
• The subject property is a 44,448 SF grocery anchored center in McCarr, KY
• Northside Plaza is anchored by Quality Foods and Dollar Tree
• The two anchors account for 63% of the space and 88% of the revenue
• Priced Well Below Replacement Cost
• Average Rent: $5.43

VALUE-ADD SHOPPING CENTER
• High Vacancy I 67% Occupied
• 7 Vacant Units are under 2,000 SQFT I 1 Vacant unit around 5,000 SQFT
• Limited small shop space competition in the area
• Leasing vacant units at average $8/SF yields proforma cap of 23%

HIGH-PERFORMING GROCERY ANCHOR
• Quality Foods has a 22-year history at the location
• No other competing grocery stores in the market
• 2023 Sales: $6,019,031
• Rent to Sales Ratio: 1.50%

DOLLAR TREE | INVESTMENT GRADE ANCHOR TENANT
• The shopping center is also anchored by a new Family Dollar Tree combo store (30% of GLA)
• Dollar Tree has been a tenant at this location for 33 years and just exercised an 8-year option
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB
• Dollar Tree/Family Dollar operates 16,340+ stores across 48 states and five Canadian provinces
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion

MCCARR, KY
• McCarr is a picturesque town in the heart of the Appalachian mountains
• Located along the scenic Tug Fork River and acts as a border for KY & WV
• Home to the famous Mccoy family from the Hatfield–McCoy Feud
• Popular destination for many families looking to enjoy the mountains
• Surrounded by various mines that drive a stable economy