6908 Dixie Hwy Louisville, KY 40258-3916

Property Details for 6908 Dixie Hwy

Year built

1981

Lot size

0.56 lot acres

Property size

1,706 SF

Zone code

C1-COMMERCIAL

Property type

Turn key restaurants

APN

25111800400000

APU

25111800400000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 1,706 square foot KFC restaurant situated on a 0.56-acre lot in Louisville, Kentucky. The property boasts a strong 6.20% cap rate and a current NOI of $68,424. The absolute NNN ground lease with a corporate guarantee from KFC, a subsidiary of Yum! Brands, ensures minimal landlord responsibilities. The lease, commencing September 30, 2016, has approximately 1.9 years remaining, followed by two five-year renewal options with annual rent bumps of 2.5% during the primary term and 3% during the options. The building, constructed in 1981 and renovated in 2020, is located at 6908 Dixie Highway, a high-traffic area with nearly 57,000 vehicles per day, surrounded by numerous national retailers including Walmart, Home Depot, and others. The property's zoning is commercial, and the ground lease expires November 29, 2026. This prime location and the financial strength of the tenant make this a compelling investment opportunity with significant upside potential. The asking price is $1,103,613, representing a price per square foot of $646.90. The property is currently 100% occupied.