Investment Summary
Price | $2,262,400 |
Cap Rate | |
NOI | |
Lease Term | 25 Years |
Lease Type | |
Rental Increases | 1% Annual Rental Increases |
Year Built | 2016 |
Building Size | 2,650 SF |
Lot Size | 0.92 Acres (40,075 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Mike J. Sullivan, CCIM Senior Vice President 513.763.3032 mike.sullivan@cushwake.com KY RE License #63429 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 25-year NNN lease with six five-year option periods
» Operated by Taco Bell’s largest franchisee with 270 units
» Rare annual rental increases, providing an excellent hedge against inflation
» Absolutely no landlord management, providing an ideal investment for an out-of-area investor
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent location with immediate access to Interstate 75, a popular route for tourists traveling in the region – Taco Bell pylon sign visible from the Interstate
» Over 42,500 vehicles per day near the property on Interstate 75 and 20,287 vehicles per day on Cumberland Falls Highway
» Surrounded by major national tenants, including McDonald’s, Burger King, Waffle House, Dollar General, Save-A-Lot, Kroger, Rent-A-Center, Advance Auto Parts, and many others
PRIME CENTRAL LOCATION
» Located less than three mile from downtown Corbin
» The site is directly across from the Corbin Arena, a $28 million, 100,000 square foot multi-purpose facility, and the Tri-County Cineplex, which has eight stateof- the-art, wall-to-wall theaters for the ultimate movie viewing experience
» Within walking distance of Baptist Health Corbin, a 273-bed acute and skilled care hospital
NEW 2016 CONSTRUCTION
» 2016 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located on Cumberland Falls Highway, with excellent visibility and access to 20,287 vehicles per day. The property benefits from immediate access to Interstate 75, a popular route for tourists in the area, which has a high traffic count of over 42,500 vehicles per day. The property is located in a dense retail corridor. Multiple notable national tenants are near the site, including McDonald’s, Burger King, Waffle House, Dollar General, Save-A-Lot, Kroger, Rent-A-Center, Advance Auto Parts, and many others.
The property is centrally located less than three miles from downtown Corbin. The Corbin Arena, a $28 million, 100,000 square foot multi-purpose facility, is located directly across from the property. Baptist Health Corbin, a 273-bed acute and skilled care hospital, is located within walking distance of the property. Several other businesses, including a state-of-the-art movie theater, as well as a number of residential communities, are located near the site, providing a solid customer base for Taco Bell.