3000 Breckenridge LnLouisville, KY 40220
- Retail properties
- 7,816 SF
Property Details for 3000 Breckenridge Ln
- Year built
- 1974
- Lot size
- 1.43 AC
- Property size (Sq ft)
- 7,816 SF
- Zone code
- C2-COMMERCIAL
- Property type
- Retail properties
- Property subtype
- Auto shops
- APN
- 22003703050000
- APU
- 22003703050000
Description
This exceptional investment opportunity presents a 3,600 square foot ZIPS Car Wash located at 3000 Breckenridge Ln, Louisville, KY 40220. Built in 2021, this single-story building sits on a 1.43-acre lot and boasts a 10.1-year remaining lease term (expiring 12/31/2034) with a corporate guarantee from ZIPS, a leading car wash operator with over 270 locations. The property benefits from a strong 7.00% cap rate and a Net Operating Income (NOI) of $369,069. The lease includes annual rent bumps of 1.5% and six five-year renewal options. The property is strategically located across from a Kroger, creating optimal retail synergy. All taxes, insurance, and maintenance are tenant responsibilities, maximizing depreciation benefits for the landlord. The property is conveniently located 7.7 miles from Louisville International Airport. This is a net lease investment with 100% occupancy. The asking price is $5,272,400. Detailed financial information is available upon request. This offering presents a compelling investment opportunity due to its strong tenant, favorable lease terms, and prime location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,923,969
- 6.5%
- $1,775,971
- 7%
- $1,649,116
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,695,459
- Geo Method
- $1,695,459
-
Alternative Use
- Use
- Valuation
- Residential
- $1,498,098
- Hospitality
- $1,372,250
- Educational
- $1,141,696
- Medical
- $1,180,960
- Retail
- $1,775,971
Location Insight
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Latitude
- 38.2166
- Longitude
- -85.6283
- CBSA code
- 31140
- CBSA name
- LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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].