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

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

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