Hooters | Louisville, KY 7701 Preston Hwy 5,419 SF Retail Building Louisville, KY 40219 $4,646,154 ($857.38/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Great Retail Location
- Established Tenant
- In-Demand Market
EXECUTIVE SUMMARY
Absolute NNN Lease -
Absolute NNN Master lease with zero landlord responsibilities. Investors will appreciate the rent bumps, over 8 years of term remaining, and corporate guarantee.
Established Tenant -
Long-term, established tenant with a solid operator. This property has a large guarantor, HOA Holdco, LLC, which has 350+ company-owned and franchised restaurants. This Hooters location ranks well in its brand according to Placer.ai.
Great Retail Location -
The property is located along Preston Highway where it receives excellent visibility and is easily accessible from multiple points. Located within a dense retail corridor in proximity to several retailers including Walmart Supercenter, Target, Home Depot, the Jefferson Mall, and many others.
In-Demand Market -
Louisville's growing consumer base and strong local economy have created a tight retail market, with high demand for space and limited new construction driving lease availability to historic lows. Current vacancy rates in the South Central retail submarket are 2.7%, which is 1.6% lower than it was this time last year.
Absolute NNN Master lease with zero landlord responsibilities. Investors will appreciate the rent bumps, over 8 years of term remaining, and corporate guarantee.
Established Tenant -
Long-term, established tenant with a solid operator. This property has a large guarantor, HOA Holdco, LLC, which has 350+ company-owned and franchised restaurants. This Hooters location ranks well in its brand according to Placer.ai.
Great Retail Location -
The property is located along Preston Highway where it receives excellent visibility and is easily accessible from multiple points. Located within a dense retail corridor in proximity to several retailers including Walmart Supercenter, Target, Home Depot, the Jefferson Mall, and many others.
In-Demand Market -
Louisville's growing consumer base and strong local economy have created a tight retail market, with high demand for space and limited new construction driving lease availability to historic lows. Current vacancy rates in the South Central retail submarket are 2.7%, which is 1.6% lower than it was this time last year.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,419 SF
Building Class
C
Year Built
1974
Price
$4,646,154
Price Per SF
$857.38
Cap Rate
6.50%
NOI
$302,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.41 AC
Zoning
C2-COMMERC
Parking
55 Spaces (9.93 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
- -
Hooters of America, is known for its world famous Hooters Style chicken wings, the first Hooters opened its doors in 1983 in Clearwater, Florida. Expectations were so modest at the time that the simple fact the doors opened was deemed worthy of a toast. Since then millions have been liberated from the ordinary at Hooters while enjoying great food, fun and one-of-a-kind hospitality that can only be served up by the Hooters Girls.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 078800020000 | Improvements Assessment | $1,711,570 |
| Land Assessment | $553,580 | Total Assessment | $2,265,150 |
