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Restaurant

Corp. Red Lobster w/ 2% Annual Increases | Louisville | 20+ Year Absolute Net Lease | Pad to Kroger

4639 KY-1065, Louisville, KY 40219

Listing Price: $4,266,728

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
21.5
Gross SF
8,463
Guarantor
Corporate Guarantee
Rentable SF
8,463
Price/Gross SF
$504.16
Lease Type
Absolute Net
Rent Per Square Feet
$30.25

Investment Overview

Louisville is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Named after King Louis XVI of France, Louisville was founded in 1778 by George Rogers Clark, making it one of the oldest cities west of the Appalachians. With nearby Falls of the Ohio as the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico, the settlement first grew as a portage site. It was the founding city of the Louisville and Nashville Railroad, which grew into a 6,000-mile system across 13 states. Today, the city is known as the home of boxer Muhammad Ali, the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Cardinals, Louisville Slugger baseball bats, and three of Kentucky’s six Fortune 500 companies: Humana, Kindred Healthcare, and Yum! Brands. Muhammad Ali International Airport, Louisville’s main commercial airport, hosts UPS’s worldwide hub. The city’s total consolidated population as of the 2020 census was 782,969. However, the balance total of 633,045 excludes other incorporated places and semiautonomous towns within the county and is the population listed in most sources and national rankings. The Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA) includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana. As of 2019, the MSA had a population of 1,395,634, ranking 43rd nationally.

Investment Highlights

  • Corporate Backed 20+ Year Absolute Net Lease (Zero Landlord Responsibilities) Featuring 2% Annual Increases throughout Initial Term and Options.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 30k Vehicles. Near Interstate-65 (134k+ VPD).
  • Immediate Area Experiencing Major Growth: Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes including Under Construction Jefferson Green (312 Units) and Covington by the Lake
  • Adjacent to Jefferson Mall - the only Major Mall in Southern Jefferson County, and the only of Louisville's Six Regional Shopping Centers serving the South and West County; the others are located in the East County.
  • Pad to a Kroger & TJ Maxx Anchored Power Center - Near Numerous other National Retailers including Walmart Supercenter, Target, Walgreens, ALDI, Academy Sports, Best Buy, CVS, Hobby Lobby and many more.
  • Minutes from Louisville Muhammad Ali International Airport - the second-busiest in the United States in terms of Cargo Traffic, and Fourth-Busiest for such in the World (4.2+ Million Passengers & 2.8 Million Tons of Cargo Annually).

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Financing By

Restaurant

Corp. Red Lobster w/ 2% Annual Increases | Louisville | 20+ Year Absolute Net Lease | Pad to Kroger

Listing Price: $4,266,728

Cap Rate
6.00%
Tenant Name
Red Lobster
Years Remaining On Lease
21.5
Gross SF
8,463
Guarantor
Corporate Guarantee
Rentable SF
8,463
Price/Gross SF
$504.16
Lease Type
Absolute Net
Rent Per Square Feet
$30.25

Investment Highlights

  • Corporate Backed 20+ Year Absolute Net Lease (Zero Landlord Responsibilities) Featuring 2% Annual Increases throughout Initial Term and Options.
  • Positioned Along Area's Major Retail & Traffic Corridor: Features Easy Access and Excellent Visibility with Daily Traffic Counts Exceeding 30k Vehicles. Near Interstate-65 (134k+ VPD).
  • Immediate Area Experiencing Major Growth: Site is Surrounded by Dense Residential Neighborhoods, Apartment Complexes including Under Construction Jefferson Green (312 Units) and Covington by the Lake
  • Adjacent to Jefferson Mall - the only Major Mall in Southern Jefferson County, and the only of Louisville's Six Regional Shopping Centers serving the South and West County; the others are located in the East County.
  • Pad to a Kroger & TJ Maxx Anchored Power Center - Near Numerous other National Retailers including Walmart Supercenter, Target, Walgreens, ALDI, Academy Sports, Best Buy, CVS, Hobby Lobby and many more.
  • Minutes from Louisville Muhammad Ali International Airport - the second-busiest in the United States in terms of Cargo Traffic, and Fourth-Busiest for such in the World (4.2+ Million Passengers & 2.8 Million Tons of Cargo Annually).

Investment Overview

Louisville is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Named after King Louis XVI of France, Louisville was founded in 1778 by George Rogers Clark, making it one of the oldest cities west of the Appalachians. With nearby Falls of the Ohio as the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico, the settlement first grew as a portage site. It was the founding city of the Louisville and Nashville Railroad, which grew into a 6,000-mile system across 13 states. Today, the city is known as the home of boxer Muhammad Ali, the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Cardinals, Louisville Slugger baseball bats, and three of Kentucky’s six Fortune 500 companies: Humana, Kindred Healthcare, and Yum! Brands. Muhammad Ali International Airport, Louisville’s main commercial airport, hosts UPS’s worldwide hub. The city’s total consolidated population as of the 2020 census was 782,969. However, the balance total of 633,045 excludes other incorporated places and semiautonomous towns within the county and is the population listed in most sources and national rankings. The Louisville-Jefferson County, KY-IN Metropolitan Statistical Area (MSA) includes Louisville-Jefferson County and 12 surrounding counties, seven in Kentucky and five in Southern Indiana. As of 2019, the MSA had a population of 1,395,634, ranking 43rd nationally.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

Financing By

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