For Sale
$3,474,000

10415 Southpointe BlvdLouisville, KY 40291

Prime Retail Investment: NNN Lease, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 4,000 square foot, single-tenant Bank of America located in Louisville, KY. The property, built in 2024, sits on a 0.84-acre lot with 47 parking spaces and enjoys a prominent location at 10415 Southpointe Blvd, 40291. The Bank of America occupies the entire building, a one-story structure, under a 15-year net lease with four 5-year options. The lease includes 10% rent bumps at the beginning of each option period (options 1 & 2), ensuring consistent NOI growth and inflation protection. Options 3 and 4 are subject to fair market rental increases. This NNN lease minimizes landlord responsibilities, making it an ideal low-management investment. The property boasts a 4.75% cap rate and a current NOI of $165,000, with an asking price of $3,474,000 ($868.50/sq ft). The strategic location is an outparcel to a future Hy-Vee grocery store, further enhancing its value and visibility. The area features significant traffic volume on Bardstown Rd (46,700 VPD) and is surrounded by other national retailers, including Walmart, Kroger, Kohl's, and numerous restaurants, creating a strong retail environment. The 5-mile trade area boasts a population exceeding 144,600 with an average household income of $99,409. This property offers a secure, high-return investment with built-in growth potential. The drive-thru equipped Bank of America is a testament to its prime location and strong tenant commitment.

Highlights

  • Brand new, 15-year net lease with Bank of America; includes four 5-year options with scheduled rent increases.
  • NNN lease with minimal landlord responsibilities; leased fee ownership.
  • Excellent visibility; outparcel to Hy-Vee; located on Bardstown Rd (46,700 VPD) with strong national tenant presence.
  • Strong demographics; affluent consumer base within a 5-mile radius.

Property Details for 10415 Southpointe Blvd

Property type
Retail properties, Retail space
Square Feet
4,000 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
36,590 SF

Location Insight

City
Louisville
County
Jefferson
State
Kentucky
Latitude
38.1385412
Longitude
-85.5809256
10415 Southpointe Blvd, Louisville, Kentucky

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10415 Southpointe Blvd
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