1708 Dixie Hwy Elizabethtown, KY 42701
- Retail properties
- 3,459 SF
- 0.87 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1708 Dixie Hwy
- Year built
- 1985
- Lot size
- 0.87 lot acres
- Property size
- 3,459 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a freestanding Bob Evans restaurant located at 1708 N Dixie Hwy, Elizabethtown, KY 42701. The property boasts 3,459 square feet on a 0.87-acre lot, built in 1985. Currently operating under a 20-year Triple Net (NNN) lease, commencing April 28, 2017, and expiring April 30, 2037, this lease offers significant remaining term of approximately 12.4 years. The tenant, a corporate guaranteed entity, provides exceptional creditworthiness. The current annual net operating income (NOI) stands at $126,355, with a built-in 2% annual rent increase. This translates to a compelling 6.50% cap rate, making this a highly attractive investment opportunity in the thriving Elizabethtown market. The property enjoys 100% occupancy, offering immediate cash flow and long-term stability. This is a rare chance to acquire a well-established, high-performing QSR property with a strong tenant and a secure lease structure. The property's location on N Dixie Hwy ensures high visibility and accessibility, contributing to its consistent performance. This investment offers a blend of stability, strong returns, and long-term growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elizabethtown
- County
- Hardin
- State
- Kentucky
- Longitude
- -85.8873
- Latitude
- 37.7334
