5903 Timber Ridge Drive, Prospect, KY 40059

Listing Agency: CBRE Louisville

Listed By: Clay Hunt · License KY #71469 Show Phone

Source: Crexi

Added: Oct 28 Changed: Nov 8 Last Checked: Nov 10 at 9:12AM

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Investment Insights

Based on property information with market context.

The property is a Chase Bank branch offered as a fee-simple interest. Its lease has 13 years remaining in the initial term and is guaranteed by Chase Bank, which carries an S&P rating of AA- / Stable. Base rent increases by 10% every five years, including during each of three five-year extension options.

The branch is an outparcel to Prospect Village Shopping Center, a Kroger-anchored center in Prospect, Kentucky. The property is located at 5903 Timber Ridge Drive.

Key Highlights

• 13 years remaining in the initial lease term
• Lease guarantee by Chase Bank, rated AA- / Stable by S&P
• 10% rent increases every five years during the base term and three 5‑year extension options

Property Analytics

Current Use

Banks

Suggested Use

Top Pick Auto Repair Shop Building Supply Big Box & Wholesale Store Hair Salon Law Firm Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

429

Businesses Nearby

92k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 37% Shops & Services 32% Dining 29% Beauty & Spa 2%

Kroger Groceries

34,125 visits/mo 0.1 miles

McDonald's Dining

13,002 visits/mo 0.1 miles

Circle K Shops & Services

10,994 visits/mo 0.1 miles

Starbucks Dining

10,277 visits/mo 0.2 miles

Kroger Fuel Center Shops & Services

9,133 visits/mo 0.1 miles

Demographics for 40059, KY

20,254

Population

8,400

Households

2.4

Avg Household Size

45

Median Age

71%

College-Educated

99%

High-School Grad

28.2 sq mi

ZIP Area

718

Density / Sq Mi

$165,000

Median Household Income

$83,963

Median Earnings

$1,844

Median Rent

$533,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Bank - A fee-simple bank property with a long-term lease and scheduled rent increases.

Where is this bank located?

The property is located at 5903 Timber Ridge Drive Prospect, KY.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: 13 years remaining in the initial lease term; Lease guarantee by Chase Bank, rated AA- / Stable by S&P; 10% rent increases every five years during the base term and three 5‑year extension options