7500 Terry Rd Louisville, KY 40258-2642

Property Details for 7500 Terry Rd

Year built

2006

Lot size

1.79 lot acres

Property size

11,215 SF

Zone code

C1-COMMERCIAL

Property type

Retail space

APN

25103000650000

APU

25103000650000

Description

This exceptional investment opportunity presents two single-tenant, net-leased Walgreens properties in Louisville, Kentucky. Both are fee-simple assets, fully occupied by Walgreens, a credit tenant rated "BBB-" by S&P. The portfolio boasts a combined 11,100-13,000 square feet across two buildings situated on approximately 1.2 to 1.9 acres of land. The properties benefit from high-traffic locations at hard-corner, signalized intersections, with over 24,600 to 27,000 vehicles per day. The current lease, an absolute NNN lease with zero landlord responsibilities, has over 6.5 years remaining and includes eight five-year option periods. The lease commenced December 6, 2006, and expires January 31, 2029, with option periods extending to 2064. Option exercise prices are specified, with future options based on fair market value. The properties offer a compelling 7.72% cap rate and a substantial NOI of $576,602. Strong demographics support the investment, with significant populations and high average household incomes within a five-mile radius of each location. Nearby national retailers further enhance the properties' value and visibility. This portfolio provides a high-yield passive income opportunity with significant potential for long-term growth.