Listed by Wittenauer Properties
$1,700,000
4801 Dixie Hwy
Details
Property Type Retail
Square Footage 6,148
Cap Rate 6.20%
NOI $105,156
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10.5
Remaining Term 10
Lease Options 3 × 5 Year Extensions
Price per SqFt $274
Year Built 2004
Acreage 1.330
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 01/31/2004
Rent Commencement 12/31/2026
Ownership Fee Simple
Retail | 6.20% CAP | 6,148 SqFt
Marketing description
Louisville is the largest city in Kentucky and serves as the economic center of the Louisville metropolitan area, home to approximately 1.4 million residents. Strategically located at the intersection of Interstates 64, 65, and 71, Louisville has established itself as one of the nation's premier logistics and distribution hubs. The city is anchored by UPS World port, the company's global air freight hub, and benefits from a diverse economy driven by logistics, healthcare, manufacturing, and financial services. Louisville's central location, strong transportation infrastructure, and growing population continue to support retail demand, making it an attractive market for national retailers and long term real estate investment.
Investment highlights
- Long-Term Corporate Lease Commitment: The tenant recently executed a new 10-year lease extension, demonstrating a continued commitment to this established location. This provides investors with predictable cash flow and reduces near-term rollover risk.
- Investment Grade Credit Tenant: AutoZone (NYSE: AZO) holds investment-grade ratings of BBB (S&P), BBB (Fitch), and Baa1 (Moody’s), all with stable outlooks. These ratings reflect the company’s strong market position, consistent operating performance, and financial stability.
- Long-Term Stability with Proven Operating History: The property is backed by an established national retailer with a long operating history. The tenant has invested in and dedicated to this location since 2004.
- High-Traffic Retail Corridor: Located on Dixie Highway, one of Louisville’s primary commercial corridors, the site benefits from strong surrounding retail activity and ongoing tenant demand, with exposure to approximately 46,773 vehicles per day.
- Strong Demographics and Dense Consumer Base: The property sits within a densely populated trade area that supports consistent retail sales and steady customer traffic.
- Surrounded by National Retailers: It is surrounded by a strong mix of national retailers, restaurants, service providers, and daily-needs businesses that encourage repeat visits.
- Nearby New Developments: Recent and planned investment in the area includes new locations such as Panda Express, Chase Bank, Wawa, Goodwill, LongHorn, Freddy’s, and Chick-fil-A.
- Sale price: $1,700,000
- Cap rate: 6.20%
- NOI: $105,156
- Price/SF: $273.67
- Term: 10.5 Years
- Fee Simple Asset; Depreciable
- Building Size – 6,148 SF +/-
- Lot Size – 1.33 Acres +/-
- Year Built – 2004
- Traffic Count – Apx 46,773 vehicles per day
- National Corporate Tenant – AutoZone (NYSE: AZO)
- Guarantor – AutoZone Development, LLC (Corporate)
Listing Contacts
Listed by Wittenauer Properties
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$105,156.00
$8,763.00/mo
Valuation Metrics
0
DSCR
6.19%
Cap Rate
6.19%
ROI
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