Single-Tenant Restaurant with Absolute NNN
For Sale
Contact for pricing
3400 N Dixie Ave, Elizabethtown, KY 42701
Operating restaurant property leased to Cheddar’s Scratch Kitchen under an absolute NNN structure.
Property Size8,757 SF
Price / SF$421.38
Days on Market50
Property Features for 3400 N Dixie Ave
General Information
Standard status
Active
Size
8,757 SF
Property subtype
RETAIL
Building Details
Tenancy
Single
Listing Agency:
JLL | Miami
(305) 704-1403
Listed By:
Alex Sharrin · License #475170243
(305) 913-5545
Source:
Moodyscre
Added: Aug 29
Changed: Oct 9
Last Checked: Oct 16 at 10:36AM
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 JLL | Miami
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Investment Insights
Based on property information with market context.
This 8,757-square-foot conventional restaurant property is occupied by Cheddar’s Scratch Kitchen as a single-tenant asset. The property is operating under an absolute NNN lease, providing a defined lease structure for the current tenancy.
Located at 3400 N Dixie Ave in Elizabethtown, Kentucky, the lease has approximately 8.3 years remaining in its primary term. Contractual rent escalations are set at 1.50% annually, and the tenant holds four five-year renewal options.
Located at 3400 N Dixie Ave in Elizabethtown, Kentucky, the lease has approximately 8.3 years remaining in its primary term. Contractual rent escalations are set at 1.50% annually, and the tenant holds four five-year renewal options.
Key Highlights
- 8,757‑square‑foot conventional restaurant property
- Single‑tenant Cheddar’s Scratch Kitchen location
- Absolute NNN lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,195
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,083,900
$2.1M
Cap Rate 7%
$1,488,500
$1.5M
Cap Rate 9%
$1,157,722
$1.2M
Market Conditions
NOI Build-Up for 8,757 SF
Gross rent
$144.0K $16.44/SF
− Vacancy
−$5.0K −$0.58/SF
EGI
$138.9K $15.86/SF
− OpEx
−$34.7K −$3.97/SF
NOI
$104.2K $11.90/SF
Area
Hardin County, KY
Vacancy
3.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,083,900
Cap Rate 7%
$1,488,500
Cap Rate 9%
$1,157,722
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,195 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $110,969 @ 7.0% cap · market cap 3.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
139k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 28%
Home Improvements & Furnishings 3%
Barnes & Noble
Shops & Services
32,145 visits/mo
0.5 miles
Circle K
Shops & Services
27,150 visits/mo
0.1 miles
Michaels
Shops & Services
25,268 visits/mo
0.5 miles
Cheddar's Scratch Kitchen
Dining
18,039 visits/mo
0.0 miles
McAlister's Deli
Dining
13,663 visits/mo
0.1 miles
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant property leased to Cheddar’s Scratch Kitchen under an absolute NNN structure.
Where is this conventional restaurant located?
The property is located at 3400 N Dixie Ave Elizabethtown, KY.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: 8,757‑square‑foot conventional restaurant property; Single‑tenant Cheddar’s Scratch Kitchen location; Absolute NNN lease structure
