7773 Dixie Hwy Louisville, KY 40258
- Retail space
- 3,190 SF
- 1.02 lot acres
Current Use by Public Records
- Zips Car Wash / Car Wash
Property Details for 7773 Dixie Hwy
- Year built
- 2008
- Lot size
- 1.02 lot acres
- Property size
- 3,190 SF
- Zone code
- C1-COMMERCIAL
- Property type
- Retail space
- APN
- 24104100100000
- APU
- 24104100100000
Description
This exceptional investment opportunity presents a fee-simple, 3,222 square foot Zips Car Wash located at 7773 Dixie Hwy, Louisville, KY 40258, Jefferson County. The property sits on a 0.86-acre lot and boasts a strong 7.65% cap rate, generating a net operating income (NOI) of $205,530. The property features a 20-year absolute triple-net (NNN) lease with a corporate guarantee, commencing December 28, 2018, and expiring December 31, 2038. Approximately 14.1 years remain on the initial lease term. The lease includes six, five-year tenant renewal options, potentially extending the lease to 50 years. Annual rent increases of 1.00% are built into the lease structure. Built in 2008, this property is eligible for 15-year accelerated depreciation and bonus depreciation. The asking price is $2,686,667, translating to a price per square foot of $833.85. The tenant, Zips Car Wash, a nationally recognized brand, recently received a significant $70 million investment from Atlantic Street Capital, further solidifying its financial strength and long-term viability. This presents a compelling investment opportunity with substantial upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,555,000
- ML approach
- $2,490,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.8418
- Latitude
- 38.1386
- CBSA code
- 31140
- CBSA name
- LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA
