The Boulder Group is pleased to exclusively market for sale a single tenant net lease Kmart property located within the Cincinnati MSA

1. Kmart (Cincinnati MSA)
10560 Harrison Avenue
Harrison, OH 45030
NET LEASE INVESTMENT OFFERING

2. NET LEASE INVESTMENT OFFERING
TABLE OF CONTENTS
I. Executive Summary
Executive Summary
Investment Highlights
Property Overview
II. Location Overview
Site Plan
Aerial
Maps
Photos
III. Market & Tenant Overview
Tenant Profile
Location Overview
Demographics

3. NET LEASE INVESTMENT OFFERING
DISCLAIMER STATEMENT
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be
reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity
without the written consent of The Boulder Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish
only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable;
however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has
The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation
whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take
appropriate measures to verify all of the information set forth herein.
DISCLAIMER
STATEMENT:

4. NET LEASE INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Kmart property located within the Cincinnati
MSA. Kmart has a long operating history at this property since 1981 and recently exercised a renewal option further illustrating their
commitment to this location. There are five years remaining on the recently extended Kmart lease which expires August 31, 2021. The
lease features a low rent per square foot ($2.99) and is being offered below replacement cost ($39.97 per square foot).
The 86,714 square foot Kmart property is strategically located along Interstate 74 exposing the property to over 50,000 vehicles per
day. Interstate 74 links the suburb of Harrison to downtown Cincinnati. The Kmart is strategically located within the area’s primary
retail destination which features Home Depot, Kroger Market Place, Walgreens, CVS, Big Lots, McDonald’s, Chipotle, Key Bank,
AutoZone and Remke Markets. The average annual household income within a seven mile radius of the property is approximately
$80,000.
Kmart is the third largest discount store chain in North America, behind Walmart and Target, with 941 locations. The chain purchased
Sears for $11 billion in 2005, forming a new corporation under the name Sears Holdings Corporation. Sears Holdings operates 1,672
retail locations under the mastheads of Sears, Kmart, and their subsidiaries, such as auto centers and pharmacies. As of 2014, it is
the 18th largest retailer in the United States. Sears Holdings Corporation is publicly traded on the Nasdaq (SHLD) with a market
capitalization of $1.5 billion.
EXECUTIVE
SUMMARY:

6. NET LEASE INVESTMENT OFFERING
INVESTMENT HIGHLIGHTS
• Located within the Cincinnati MSA
• Kmart has a long and successful operating history at this location (since 1981)
• Tenant is committed to this location as evidenced by recently exercising a renewal option
• Triple Net – no landlord responsibilities
• Low rent per square foot ($2.99)
• Below replacement cost at $39.97 per square foot
• Positioned along Interstate 74 with exposure to 50,000+ vehicles per day
• Located within a retail trade area which features Home Depot, Kroger Market Place, Walgreens, CVS, Big Lots,
McDonald’s, Chipotle, Key Bank, AutoZone and Remke Markets
INVESTMENT
HIGHLIGHTS:

7. NET LEASE INVESTMENT OFFERING
PROPERTY OVERVIEW
Price: $3,250,000
Cap Rate: 8.00%
Net Operating Income: $260,000
Lease Commencement Date: September 21, 1981
Lease Expiration Date: August 31, 2021
Renewal Options: None
Tenant: Kmart Corporation
Year Built: 1981
Lease Type: NNN
Building Size: 86,714 SF
Land Size: 7.22 Acres
PROPERTY
OVERVIEW:

8. NET LEASE INVESTMENT OFFERING
SITE PLAN
HARRISON
AVENUE
74
N
SITE
BURWINKEL
FARMS

9. AERIAL
NET LEASE INVESTMENT OFFERING
N
74

10. INvEsTmENT sUmmARy
Location Overview
75
75
N
Harrison ave
W rd
New Haven rd
StoneDr

11. NET LEASE INVESTMENT OFFERING
MAPS
N

12. NET LEASE INVESTMENT OFFERING
MAPS
N

13. NET LEASE INVESTMENT OFFERING
PHOTOS

14. NET LEASE INVESTMENT OFFERING
TENANT PROFILE
Kmart is a chain of American discount department stores headquartered in Hoffman Estate, IL. The chain purchased Sears for $11
billion in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is
the third largest discount store chain in North America, behind Walmart and Target, with stores in the United States, Puerto Rico,
the U.S. Virgin Islands, and Guam (which houses the world’s largest Kmart). As of January 30, 2016, the company operated a total
of 941 Kmart stores.
Sears Holdings Corporation is an American holding company headquartered in Hoffman Estates, Illinois. It is the owner of retail
store brands Sears and Kmart, and was founded after the latter purchased the former in 2005. Sears Holdings owns the brands
Craftsman, Kenmore, and DieHard. Sears Holdings operates 1,672 retail locations under the mastheads of Sears, Kmart, and their
subsidiaries, such as auto centers and pharmacies. As of 2014, it is the 18th largest retailer in the United States. Sears Holdings
Corporation is publicly traded on the Nasdaq (SHLD) with a market capitalization of $1.5 billion.
Website: http://www.kmart.com/
Number of Kmart Locations: 941
Parent Company: Sears Holdings Corporation
Number of Parent Company Locations: 1,672
Parent Company Stock Symbol: Nasdaq: SHLD
Market Capitalization: $1.5 billion
Headquarters: Hoffman Estates, IL
TENANT
PROFILE:

15. NET LEASE INVESTMENT OFFERING
LOCATION OVERVIEW
Harrison is a city in Hamilton County, Ohio. The city is located within the Cincinnati
Metropolitan Statistical Area. As of the 2010 Census, city had a population of approximately
10,000 people. Harrison is located approximately twenty miles northwest from downtown
Cincinnati along the Ohio-Indiana border. Harrison boasts unprecedented population
growth of 7% annually for the past 3 years.
Cincinnati is a city in the U.S. state of Ohio that serves as county seat of Hamilton County. The larger Cincinnati metropolitan area had a
population of 2,214,954 in 2010, making it the 28th-largest Metropolitan Statistical Area in the United States and the largest centered in
Ohio.
Major corporations have their head offices in Cincinnati, such as Procter & Gamble, The Kroger Company, and Macy’s, Inc., amongst
others. Kroger, the largest employer in the city, has 17,000 employees. Cincinnati is home to two major sports teams, the Cincinnati Reds,
the oldest franchise in Major League Baseball, and the Cincinnati Bengals of the National Football League.
The city is served by Cincinnati/Northern Kentucky International Airport which is actually located in Hebron, Kentucky. The airport is a
hub for Delta Air Lines and express mail service company DHL Express, in addition the airport is a focus city for Allegiant Air and Frontier
Airlines. The city has an outer-belt, Interstate 275 (which is the longest circle highway in the country) and a spur, Interstate 471, to Kentucky.
It is also served by Interstate 71, Interstate 74, Interstate 75 and numerous U.S. highways: US 22, US 25, US 27, US 42, US 50, US 52,
and US 127.
LOCATION
OVERVIEW:

17. NET LEASE INVESTMENT OFFERING
DEMOGRAPHICS
DEMOGRAPHIC
REPORT:
Population 1 Mile 3 Mile 5 Mile
Total Population 7,051 15,880 28,378
Total Households 2,633 6,202 10,851
Income 1 Mile 3 Mile 5 Mile
Median Household Income $62,377 $59,850 $62,662
Average Household Income $74,531 $73,443 $76,523

18. Randy Blankstein
President
847.562.0003
randy@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
666 Dundee Road, Suite 1801
Northbrook, IL 60062
www.bouldergroup.com