100 Makena Dr Somerset, KY 42503

This exceptional investment opportunity presents a fee-simple, 2,513 square foot Popeyes restaurant located at 100 Makena Dr, Somerset, KY 42503. The property sits on a 0.89-acre lot and boasts a 100% occupancy rate under an absolute NNN lease with Carrols Corp Guarantee, expiring December 31, 2039. This represents a remaining lease term of approximately 15.1 years, featuring 1% annual rent bumps. The current annual net operating income (NOI) is $128,905, yielding a 6.25% cap rate on the asking price of $2,062,000. Built in 2020, this property benefits from its strategic location on US Highway 27, a major thoroughfare with over 29,000 vehicles daily, and its proximity to other national retailers including Starbucks, Chili's, Walmart, and Lowe's. A planned large-scale retail development, Makena Road Development, further enhances the property's long-term value. The surrounding area shows strong population growth, exceeding 5% in the past decade, with over 18,000 residents within a 3-mile radius and a daytime population exceeding 30,000. The lease includes six 5-year options. This is a prime opportunity for a 1031 exchange.