Freestanding Subway Drive-Thru
For Sale
$800,000
3119 Frederica St, Owensboro, KY 42301
Freestanding Subway restaurant with absolute NNN lease, 15-year term and four five-year renewal options.
Property Size1,200 SF
Lot Size0.30 Acres
Price / SF$666.67
Days on Market36
Property Features for 3119 Frederica St
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.30 Acres
Property subtype
Restaurant
Lease Type
NNN
Net Operating Income
$48,000
Site & Location
Drive-Thru
Yes
Traffic Count
21,195 vehicles/day
Additional Details
Cap Rate
6%
Amenities
Brand-New 15-Year Absolute NNN Lease Commencing at Close of Escrow
Zero Landlord Responsibilities With Four (4) Five-Year Renewal Options
Scheduled 10% Rent Increases Every 5 Years
Backed by a High Net Worth Personal Guaranty
Freestanding Drive-Thru Along Frederica Street (±21,195 VPD)
5-Mile Population of 76,779 With $89,036 Average Household Income
Surrounded by Walmart, Target, Lowe's, Best Buy, TJ Maxx, and Hobby Lobby
Available Individually or as Part of the Nine-Property Subway Kentucky Portfolio
Building Details
Building Size
1,200 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Jason Fefer · License #License(s): CA: 02100489
(310) 909-2394
Source:
Marcusmillichap
Added: Jul 29
Changed: Aug 23
Last Checked: Sep 2 at 1:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Marcus & Millichap presents a freestanding Subway drive-thru restaurant at 3119 Frederica Street in Owensboro, Kentucky. The 1,302-square-foot restaurant sits on a 0.30-acre site and was built in 1999. It is available individually or as part of the nine-property Subway Kentucky Portfolio.
The property is operated under a brand-new 15-year absolute NNN lease commencing at close of escrow with zero landlord responsibilities and four (4) five-year renewal options. The lease includes scheduled 10% increases every five years, and the underwriting reflects a 6.00% cap rate. The lease is backed by a high net worth personal guaranty.
Located along Frederica Street, the site is positioned on a primary north-south commercial corridor with an estimated 12,195 VPD and is surrounded by national retailers including Walmart, Target, Lowe’s, Best Buy, TJ Maxx, Hobby Lobby, and Kroger. The 5-mile trade area supports 76,779 residents, and the site benefits from proximity to Kentucky Wesleyan College (864 students), Brescia University (700 students), and Owensboro Community and Technical College (4,875 students).
The property is operated under a brand-new 15-year absolute NNN lease commencing at close of escrow with zero landlord responsibilities and four (4) five-year renewal options. The lease includes scheduled 10% increases every five years, and the underwriting reflects a 6.00% cap rate. The lease is backed by a high net worth personal guaranty.
Located along Frederica Street, the site is positioned on a primary north-south commercial corridor with an estimated 12,195 VPD and is surrounded by national retailers including Walmart, Target, Lowe’s, Best Buy, TJ Maxx, Hobby Lobby, and Kroger. The 5-mile trade area supports 76,779 residents, and the site benefits from proximity to Kentucky Wesleyan College (864 students), Brescia University (700 students), and Owensboro Community and Technical College (4,875 students).
Key Highlights
- 1,302‑square‑foot freestanding Subway drive‑thru on a 0.30‑acre site built in 1999
- Absolute NNN lease: 15‑year term plus four (4) five‑year renewal options
- Scheduled 10% increases every five years and 6.00% cap rate underwriting
Property Analytics
Property Profile
Current Use
Lease Details
21,195 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
169k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 27%
Beauty & Spa 3%
Home Improvements & Furnishings 2%
McDonald's
Dining
29,874 visits/mo
0.4 miles
SONIC Drive In
Dining
16,810 visits/mo
0.0 miles
Dunkin' Donuts
Dining
15,984 visits/mo
0.1 miles
Hardee's
Dining
11,021 visits/mo
0.0 miles
Red Lobster
Dining
8,654 visits/mo
0.4 miles
Demographics for 42301, KY
44,883
Population
19,833
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
173.0 sq mi
ZIP Area
259
Density / Sq Mi
$62,010
Median Household Income
$37,305
Median Earnings
$883
Median Rent
$180,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding Subway restaurant with absolute NNN lease, 15-year term and four five-year renewal options.
Where is this drive through restaurant located?
The property is located at 3119 Frederica St Owensboro, KY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1,302‑square‑foot freestanding Subway drive‑thru on a 0.30‑acre site built in 1999; Absolute NNN lease: 15‑year term plus four (4) five‑year renewal options; Scheduled 10% increases every five years and 6.00% cap rate underwriting
