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Chick-Fil-A - Louisville, KY

Costco Outparcel | Abs.NNN | Below Mkt Rent | +12 Years

Listing Contacts

Active

Asking Price: $3,235,294
Address 

3420 Bardstown Rd, Louisville, KY 40218

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Date Added
Mar 11, 2025
Days on Market
44 days
Time Since Last Update
41 days

Details

Property TypeRetail
SubtypeQSR/Fast Food
Investment TypeNet Lease
ClassA
Lease TypeAbsolute NNN
Tenant CreditCorporate Guarantee
TenancySingle
Brand/TenantChick-fil-A
Lease Term20 years
Lease Commencement01/25/2017
Lease Expiration06/30/2037
Remaining Term12.2 years
Square Footage4,561
Cap Rate4.25%
Occupancy100%
NOI$137,500
Units1
Year Built2017
Lot Size (acres)1
Rent Bumps10% Every 5 Years
Lease OptionsNine, 5-years
Ground LeaseYes

Investment Highlights

  • Premier Location — Costco outparcel seeing over 50,000 VPD in the largest city in Kentucky, home to over 2.14M Americans. This property is also situated close to Louisville International Airport.

  • Absolute Net (Abs.NNN) Ground Lease — Zero landlord responsibilities, making this a truly passive investment.

  • Long Term Lease — Over 12 years remaining in the initial term of the lease, with +45 years of options.

  • Corporate Guarantee from Premier Retailer — The lease is backed by Chick-Fil-A, with an Average Unit Volume (AUV) over $9.3M.

  • Newest Chick-Fil-A Model — Upgraded with double drive thru to accommodate the industry leading AUV.

  • Large Building & Parcel Size — 4,561 sf situated over 1.00 acre, offering future owners unlimited potential for redevelopment or repurposing.

  • Tourist Destination — Home to the annual Kentucky Derby, Louisville Slugger Museum & Factory, as well as the University of Louisville, with a student population over 23,000.

  • Below Market Rent — The tenant is currently paying a favorable rate of $30/sf, well below market value.

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$137,500.00
$11,458.33/mo

Valuation Metrics

0
DSCR
4.25%
Cap Rate
4.25%
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


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