High Quality, NNN, Sale-Leaseback Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30170243
Property Subtypes: Free-Standing Building, Restaurant, Retail-Pad, Street Retail
Building Size (RSF): 2,450 SF
Gross Building Area: See Agent
Sale Price: $963,000
Unit Price: $393.06 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 11/17/2017

Overview / Comments

PRG Commercial Property Advisors is pleased to present this sale-leaseback, Pizza Hut opportunity located at 3316 Grant Line Road in New Albany, IN (Louisville MSA).

The subject property has operated as a Pizza Hut for almost 20 years, and the store recently underwent a full remodeling. The property is very well-located on a lighted corner in a strong, dense retail corridor surrounded by strong national tenants including a shadow anchored Kroger and nearby Walmart. The property has a cross parking easement with neighbors.

A purchaser will enjoy a 15 year, absolute NNN lease with a leading franchisee in the market, as well as increases throughout the base and option terms. This presents an excellent opportunity for a 1031 candidate, as well as for an investor looking for solid, long term yield with excellent underlying real estate.

Investment Highlights
- Long term, 15 year lease begins at closing
- Newly renovated store
- Well-located lighted
- Strong 30 store franchisee

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Zoning: C3

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,760 59,460 125,818
Median Age: 39.68 38.6 38.26
Households: 3,660 24,800 50,668
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