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Chick-fil-A (GL)
10501 Preston Hwy, Louisville, KY 40229
$3,733,000
Cap Rate 3.75%
Summary
| Price $3,733,000 | Built/Renov 2023 | Tenant Chick-fil-A (GL) |
| Cap Rate 3.75% | Lease Type
Abs NNN | Guarantor Corporate |
| Size/SF
4,996
| Lease Start
09-30-2023
| #Units
2,806
|
| Price/SF $747.20 | Expiration
10-01-2043
| Tenant Type Fast Food/QSR |
| NOI $140,000 | R. Term 19.9 | Ownership Ground Lease |
| Rent/SF
$28.02
| Increases 10.0%/5/yrs | Pop 5Mi 111,672 |
| Lot/AC 1.81 | Options 8/5yrs/10% | AHHI 5Mi $70,665 |
| | |
Lease Highlights
- Brand new 2023 construction
- Chick-fil-A recently signed a brand new 20-year ground lease with 8 (5-year) options to extend
- Lease features a 10% rental increase every 5 year through the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Chick-fil-A Inc.
Location Description
This newly constructed Chick-fil-A is strategically located along Preston Highway with access to over 54,900 vehicles per day. The property is within a new business development with neighboring tenants including Thorntons and Mikes Car Wash. Additional national/credit tenants in the area include Walmart, Lowe’s, Kroger, Meijer, Cinemark and others. In addition, the subject property is located...
...Features
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New construction
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New prototype
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High traffic 50M+ VPD
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Major thoroughfare
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Dense 100M+ pop 5 mi
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Top 100 MSA
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Brand new lease
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Long 20+ yr lease
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Absolute NNN
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Corporate Guarantee
...
Maps
Tenant
- Tenant: Chick-fil-A
- Guarantor:Corporate
- Company:Chick-fil-A Inc.
- # Units:2,806
- Stock:Private
About Tenant
Chick-fil-A is one of the largest American fast food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 8,568 | 62,153 | 127,137 |
| 2023 Total Population : | 8,661 | 61,749 | 125,503 |
| 2023 Employed Civilian Pop : | 4,630 | 31,740 | 65,899 |
| 2023 Total Businesses : | 254 | 1,282 | 3,200 |
| 2023 Average Household Income : | $ 84,541 | $ 81,035 | $ 82,035 |
| 2023 Total Consumer Spending : | $ 256 M | $ 1687 M | $ 3529 M |
| 2023 Median Age : | 36 | 39 | 40 |
| 2023 Total Households : | 3,499 | 23,968 | 49,517 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,065 | 5,681 | 12,789 |
| 2023 Average Home Value : | $ 272,305 | $ 221,235 | $ 237,663 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Old Preston Hwy | Interchange Dr | 2014 | 454 | 0.11 mi |
| Preston Hwy | Old Preston Hwy | 2015 | 43 | 0.13 mi |
| Old Preston Hwy | Walden Dr | 2012 | 400 | 0.20 mi |
| Preston Hwy | Mount Washington Rd | 2010 | 32,630 | 0.29 mi |
| Preston Hwy | Cooper Chapel Rd | 2010 | 36,000 | 0.30 mi |
| Faithful Way | Mount Washington Rd | 2010 | 60 | 0.35 mi |
| Mount Washington Rd | Preston Hwy | 2010 | 12,750 | 0.37 mi |
| Mud Ln | Antonia Way | 2010 | 12,480 | 0.38 mi |
| Mount Washington Rd | Standiford Plz Dr | 2010 | 11,260 | 0.39 mi |
| Cooper Chapel Rd | Preston Crossing Blvd | 2012 | 8,033 | 0.40 mi |
