Ground Lease Investment Opportunity - Preston Highway

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30598237
Property Subtypes: Free-Standing Building
Status: Pending
Building Size (RSF): 7,350 SF
Gross Building Area: See Agent
Sale Price: $740,000
Unit Price: $100.68 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Last Updated: 11/23/2020

Overview / Comments

We are pleased to present this NNN ground lease AutoZone investment offering in Louisville, Kentucky. AutoZone's lease commenced on April, 1993. Annual rent is $37,011.96. Three years remain on the current lease term with three (3) separate 5-year options for this strong national Tenant to further extend the term of their lease.

Traffic counts of over 22,600. Property has excellent visibility and frontage on Preston Highway and approximately 50 surface parking spaces. 8215 Preston Highway is located directly across from the Home Depot store and near other strong retail, major employers, schools & churches and a high population density. Zoned C-2 & R-4.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 065104210000
Zoning: C-2 - Commercial District
Traffic/Vehicle Count: 22,644
Highway Access: Easy access to I-65 and I-265
Area Description: Located on Preston Highway near Blue Lick Road. Preston Highway is a major retail corridor in central Louisville, extending north and south through the city.
Tenancy: Single Tenant
Number of Stories: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,726 80,210 199,744
Median Age: 37.8 35.59 36.87
Households: 6,795 31,531 80,642

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