New Cap Rate on Dixie Highway NNN, Sale-Leaseback Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30287872
Property Subtypes: Free-Standing Building
Building Size (RSF): 3,360 SF
Gross Building Area: See Agent
Sale Price: $1,815,000
Unit Price: $540.18 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/21/2018

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

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 102604360000
Zoning: C-1 - Commercial District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,706 93,745 195,635
Median Age: 39.19 38.18 36.78
Households: 4,096 37,817 78,417
The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.