New Cap Rate on Dixie Highway NNN, Sale-Leaseback Opportunity
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||Net Leased Investment (NNN)
||Cash to Seller
Overview / Comments
This long-term, sale-leaseback Pizza Hut opportunity is located in a high quality retail location in South Louisville.
The very strong performing store has operated as a Pizza Hut for approximately 30 years, and it has undergone various renovations. The site is located on the lighted, high traffic corner of Dixie Highway and Lower Hunters Trace. It is an outlot to a Walmart Neighborhood Market store. Over 46,000 cars a day pass the site.
A purchaser will enjoy a 15 year, absolute NNN lease with a leading, long-term franchisee in the market, as well as increases throughout the base and option terms. Priced at a 6.5% cap rate, this presents an excellent opportunity for a 1031 exchange, as well as for an investor seeking solid, long-term yield with excellent underlying real estate.
*The property could also be purchased together with two other locations listed separately. MLS #'s
||C-1 - Commercial District
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