5205 New Cut RdLouisville, KY 40214

Property Details for 5205 New Cut Rd

Year built

2021

Lot size

1.43 AC

Property size (Sq ft)

18,697 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents Colonial Gardens, a fully leased, 18,697 square foot restaurant complex situated on a 1.43-acre lot in Louisville, Kentucky. Located at 5205 New Cut Rd, this property boasts high visibility and traffic counts due to its prime location directly across from the Iroquois Park Amphitheater. The property, built in 2021, features four independently leased restaurants operating under NNN (triple net) lease agreements, minimizing landlord responsibilities. The site includes 74 off-street parking spaces, a significant amenity for patrons. The property is zoned C-1 - Commercial District, and its Jefferson County APN is 062G00680000. The asking price is $4,900,000, representing a price per square foot of $262.07 and a projected cap rate of 6.00%. Potential exists for assumable debt and/or seller financing. This landmark property offers a compelling investment opportunity in a thriving Louisville location, benefiting from the high traffic volume and the draw of Iroquois Park and its amphitheater. The property's recent complete restoration and renovation ensures a modern and attractive space for tenants and patrons alike. This is a rare chance to acquire a stable, high-performing net-leased investment property with significant upside potential. Cash to seller or owner financing options are available.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.1609

Longitude

-85.7788

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