240 S Indiana Ave, Sellersburg, IN 47172

Vincent Aicale

PRO

CA CA 01728696

Cushman & Wakefield - Sacramento, California

Ryan Forsyth

PRO

CA CA 01716551

Michael Yuras

PRO

CA 01823291

Scott Crowle

PRO

CA 01318288

Listed by Cushman & Wakefield - Sacramento, California

$2,168,000

63 days on market

Updated 31 days ago

Hardee's | Louisville MSA

Details

Property Type

Retail

Sub Type

QSR/Fast Food, Restaurant (+1)

Square Footage

1,828

Cap Rate

NOI

$130,080

Tenancy

Single

Brand/Tenant

McDonald's, Wendy's

Lease Type

Absolute NNN

Lease Term

Lease Expiration

11/29/2042

Remaining Term

17.4

Rent Bumps

Yes

Broker Co-Op

Yes

Year Built

2022

Acreage

0.640

Parking Spaces

20 spaces

Parking Per SqFt

10.94

Investment Type

Net Lease

Lease Commencement

11/29/2022

Ground Lease

Abs NNN Lease | 10% Increases | Next to Highway On/Off Ramp

Investment highlights

Prime Interstate Access: Located at 240 S Indiana Ave, Sellersburg, IN, just 1,000 feet from I-65’s on/off ramp (87,446 AADT), this Hardee’s benefits from exceptional visibility and traffic flow. The site sits on a key retail corridor with 15,863 AADT on S Indiana Ave, connecting to a broader network of high-traffic roads like County Road 311 (25,637 AADT). Its proximity to Louisville, KY (11.8 miles), amplifies its reach to a major metropolitan market.
Absolute NNN Lease: This 20-year lease with Hardee’s is fully absolute NNN, with the tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot. The lease features 10% rent increases every 5 years, projecting significant income growth by year 20. This hands-off structure ensures a passive investment with no landlord obligations.
Beneficial Proximity to Schools: Located minutes from 6 schools with a combined enrollment count of 5,700+ students: Ivy Tech Community College - Sellersburg Campus (approx. 1,900 students), Silver Creek High School (943 students), Silver Creek Middle School (760 students), Silver Creek Elementary School (899 students), Rock Creek Community Academy (661 students) and Silver Creek Primary School (550 students).
Modern Construction: Built in 2022, this 1,828 SF Hardee’s on a 0.64-acre lot offers 20 parking spaces and a prominent pylon sign visible from I-65, maximizing customer access and visibility. The design aligns with Hardee’s focus on convenience, featuring a drive-thru and updated interior layout to handle high-traffic periods efficiently. Its recent construction minimizes near-term capital expenditures, boosting investor returns.
Demographic Strength: The 5-mile radius boasts 41,530 adults, projected to grow to 44,168 by 2029, with a median household income of $86,506 (rising to $101,063). Within 1 mile, 3,714 adults and a $57,501 median income (projected $64,234 by 2029) provide a solid local customer base. This income growth and population density ensure sustained consumer spending power.
Retail Synergy: Surrounded by residential areas and national QSRs like McDonald’s and Arby’s, the site leverages a competitive yet complementary retail environment. Its position near I-65 and local traffic drivers enhances footfall, with 92% of adults visiting fast-food restaurants in the last 6 months. The strong presence of nearby brands amplifies Hardee’s draw.
Long-term absolute NNN lease to Hardee’s with 17 years remaining, offering a stable investment opportunity.
10% rental increases every 5 years enhance returns, making it ideal for passive income growth.
Tenant handles all taxes, insurance, and maintenance, including roof and structure, eliminating landlord responsibilities.
Hardee’s, a CKE Restaurants brand with over 1,800 locations, benefits from strong brand recognition and operational scale.
StarCorp LLC is a prominent franchisee of CKE Restaurants Holdings, Inc., operating over 140 Carl’s Jr.® and Hardee’s® locations across Arizona, Texas, and the Midwest.