6811 Bardstown Rd Louisville, KY 40291-3049

Property Details for 6811 Bardstown Rd

Year built

1993

Lot size

0.90 lot acres

Property size

4,276 SF

Zone code

OR3-OFFICE/RESIDENTIAL

Property type

Turn key restaurants

APN

22187000160000

APU

22187000160000

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Raising Cane's restaurant located at 6811 Bardstown Rd, Louisville, KY 40291. The property boasts a 3,170 square foot building situated on a 0.9-acre lot in a high-traffic area with over 41,400 vehicles passing daily. The tenant, Raising Cane's, is a corporate-owned location (acquired December 2020), providing a strong corporate guarantee. The current lease, with a remaining term of approximately 9.3 years (expiring 02/28/2034), includes four, five-year renewal options and features built-in rent bumps. The property offers a 6.40% cap rate with a current NOI of $312,018 and an asking price of $4,875,000. Its prime location on a signalized corner of Bardstown Road, a major thoroughfare, and less than 0.5 miles from Interstate 265 ensures excellent visibility and accessibility. Raising Cane's impressive performance, with an Average Unit Volume (AUV) exceeding $5.44 million in 2023 and projected to surpass $6 million in 2024, underscores the investment's potential. The fee-simple ownership structure allows for building depreciation, further enhancing the investment's attractiveness. This is a rare opportunity to acquire a high-performing, long-term net-leased asset in a desirable location.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Longitude

-85.5852

Latitude

38.1475

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments