Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a 2,052-square-foot drive-through quick-service restaurant (the Property) in Clarksville, Indiana, in which White Castle has over 9 years remaining on its triple-net ground lease. The lease features a 15 percent rent increase in 2030; an 8 percent rent increase in the first five-year renewal option; and a 10 percent rent increase in each of the second, third, and fourth renewal options. The Property sits on a 0.79-acre parcel on U.S. Highway 31, just east of Interstate 65 and Green Tree Mall, the only enclosed mall in southern Indiana and home to the first Texas Roadhouse. In addition to major mall tenants JCPenney, Dillard’s, Furniture Fair, At Home and Planet Fitness, the retail area is anchored by Walmart Supercenter, Sam’s Club, Target, Bass Pro Shops, Harbor Freight, Lowe’s, Home Depot, Menards and Best Buy. Just 5.1 miles north of downtown Louisville, Kentucky, the Property is situated within the Louisville metro area and a short drive from the 24,000-student University of Louisville and Louisville Muhammad Ali International Airport (SDF). The Property saw 263,000 visits in the 12 months ended June 30, 2025, according to Placer.ai, putting it among the top five White Castle locations in Indiana in terms of visits. Family-owned since 1921, White Castle operates about 340 quick-service restaurants as well as its own meat plants and bakeries. The private company employs around 10,000 people and achieved $683.9 million in sales in 2023. Like 72 percent of White Castle restaurants, the Property is open 24 hours a day, seven days a week. This exclusive net-lease opportunity offers the security of a triple-net lease as well as a retail property on U.S. Highway 31 with visibility to Interstate 65 within the Louisville metro area.