Kay Jewelers
Hermitage , PA
Since 1916, Kay Jewelers has grown from one store to more than 1,100 from coast to coast. As the #1 jewelry store in America, we know that offering fine jewelry at a great price is only part of the story. We are fully committed to providing a superior shopping experience – both at the Hermitage Kay Jewelers Store and online.
Property Information
- Tenant: Kay Jewelers
- Location: 115 N Hermitage Rd, Hermitage, PA 16148
- Property Type: Freestanding, Jewelry Story
- Building Size: +/- 2,600 Square Feet
- Purchase Price: $2,274,304.00
- Cap Rate: 6.40%
Hermitage, PA
Hermitage, Pennsylvania is a community full of variety. Major Northeastern and Midwestern US cities and universities are just a short drive away, recreational facilities are abundant, the environment is protected and a high quality of life is available. Hermitage and the surrounding areas have a proud, cooperative workforce, friendly people, a low crime rate, low cost of living, and abundant recreation areas – all advantages of small town living. With its proximity to metropolitan areas, Mercer County’s location enables businesses and residents alike to enjoy the best of both worlds.
About Tenant In Common
Tenant in common or TIC ownership allows two or more people to hold an ownership interest in a property. Each property owner or business
entity holds its own separate stake in the property and receives a deed.Their interests do not have to be equal.
This Millcreek Commercial property has the following characteristics:
- Property is offered debt-free
- Long-term, corporate-guaranteed lease
- Satisfies IRS requirements for 1031 exchanges
Office | 801.899.1943
Lease Information
- Lease Guarantor: Sterling Jewelers, Inc*
- Initial Lease Term: 10 Years
- Rent Increases: 10% increases, every 5 years
- Renewal Options: Two 5-year Extensions
- 10 Yr. Avg. Return: 6.40%
- Remaining Term: 4 years
