6811 Bardstown RdLouisville, KY 40291

Property Details for 6811 Bardstown Rd

Year built

1993

Lot size

0.90 AC

Property size (Sq ft)

4,276 SF

Zone code

OR3-OFFICE/RESIDENTIAL

Property type

Retail properties

Property subtype

Turn key restaurants

APN

22187000160000

APU

22187000160000

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Raising Cane's restaurant located at 6811 Bardstown Rd, Louisville, KY 40291. The property boasts a 3,170 square foot building situated on a 0.9-acre lot in a high-traffic area with over 41,400 vehicles passing daily. The tenant, Raising Cane's, is a corporate-owned location (acquired December 2020), providing a strong corporate guarantee. The current lease, with a remaining term of approximately 9.3 years (expiring 02/28/2034), includes four, five-year renewal options and features built-in rent bumps. The property offers a 6.40% cap rate with a current NOI of $312,018 and an asking price of $4,875,000. Its prime location on a signalized corner of Bardstown Road, a major thoroughfare, and less than 0.5 miles from Interstate 265 ensures excellent visibility and accessibility. Raising Cane's impressive performance, with an Average Unit Volume (AUV) exceeding $5.44 million in 2023 and projected to surpass $6 million in 2024, underscores the investment's potential. The fee-simple ownership structure allows for building depreciation, further enhancing the investment's attractiveness. This is a rare opportunity to acquire a high-performing, long-term net-leased asset in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $775,372

  6.5%

  $715,728

  7%

  $664,605

• Comparable approach

  Method

  Valuation

  Relative Method

  $927,557

  Geo Method

  $927,557

• Alternative Use

  Use

  Valuation

  Residential

  $603,743

  Hospitality

  $553,026

  Educational

  $460,111

  Medical

  $475,935

  Retail

  $715,728

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.1475

Longitude

-85.5852

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].