7770 Dixie Hwy Louisville, KY 40258-1473

Property Details for 7770 Dixie Hwy

Lot size

0.61 lot acres

Property type

Auto shops

APN

25111201930000

APU

25111201930000

Description

This exceptional investment opportunity presents a brand-new, 1,609 square foot auto shop/storefront located at 7770 Dixie Hwy, Louisville, KY 40258. Built in 2023, this Class B property boasts a 100% occupancy rate with a 15-year absolute NNN lease commencing May 20, 2023, and expiring June 30, 2038. The tenant, Strickland Brothers, a rapidly expanding company with over 200 locations across 27 states, is backed by a corporate guarantee, mitigating risk. The property features excellent visibility and direct access from Dixie Highway, a high-traffic area with approximately 37,200 vehicles per day. The lease includes 10% rent bumps every five years, providing a strong hedge against inflation. The property sits on a 0.61-acre lot with seven parking spaces. The current Net Operating Income (NOI) is $131,700, yielding a 6.50% cap rate. The asking price is $2,026,000. This location benefits from proximity to major retailers, educational institutions (including Pleasure Ridge Park High School and Jefferson Community & Technical College), and Louisville International Airport. The property may be eligible for bonus/accelerated depreciation, offering potential tax advantages. Four, five-year lease options are available. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant growth potential.