3600 Bardstown RdLouisville, KY 40218

Property Details for 3600 Bardstown Rd

Year built

1973

Lot size

0.86 AC

Zone code

C2-COMMERCIAL

Property type

Office buildings

APN

232069005A0000

APU

232069005A0000

Description

Exceptional investment opportunity: a 3,176 sq ft Chase Bank in Louisville, KY, boasting a 6.00% cap rate and a strong NOI of $223,275. This absolute NNN net lease features an investment-grade tenant (A+ rated by Standard & Poor's) with a multi-decade operating history at this location and a recently signed 10-year lease extension, extending the lease to October 31, 2036. The property sits on a 1.15-acre lot and benefits from its high-traffic location on Bardstown Road (50,000+ vehicles per day) and proximity to Interstate 264 (182,000+ vehicles per day). It's strategically positioned as an outparcel of a shopping center anchored by Lowe's, Target, and Walmart, with numerous other national retailers nearby, including Kroger, Costco, Burlington, and Walgreens. The property enjoys exceptional demographics, with over 253,000 people residing within a five-mile radius and an average household income exceeding $94,633. The lease includes two 5-year options with 10% rent bumps in each. This prime retail location is also conveniently situated near Seneca High School and approximately 20 minutes southeast of downtown Louisville. The asking price is $3,721,250, representing a price per square foot of $1,171.68. Built in 1975, this property presents a secure and lucrative investment opportunity with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $5,233,196

  6.5%

  $4,830,642

  7%

  $4,485,596

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,238,588

  Geo Method

  $3,238,588

• Alternative Use

  Use

  Valuation

  Residential

  $5,989,996

  Hospitality

  $5,486,804

  Educational

  $4,564,957

  Medical

  $4,721,953

  Retail

  $7,101,044

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2024

Longitude

-85.6647

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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