Jaggers (GL)

10690 Westport Road, Louisville, KY 40241

$2,100,000

Cap Rate 4.69%

$2,188,889

Cap Rate 4.50%

DOM: 47 Updated: 07.22.24 Posted: 12.21.23 Status: Sold 02.06.24

Summary

Price $2,100,000 $2,188,889	Built/Renov 2022	Tenant Jaggers (GL)
Cap Rate 4.69% 4.50%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,824	Lease Start 10-31-2022	#Units 5
Price/SF $743.63 $775.10	Expiration 10-31-2033	Tenant Type Fast Casual/Rest.
NOI $98,500	R. Term 8.3	Ownership Ground Lease
Rent/SF $34.88	Increases 10.0%/4/yrs	Pop 5Mi 144,680
Lot/AC 1.00	Options 3/5yrs/10%	AHHI 5Mi $127,039

Jesse Limon

Marcus & Millichap

Contact

Highlights

Jaggers has 9+ years remaining on the current ground lease term with 3 (r-year) options
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Jaggers is strategically located at the hard corner intersection of Westport Road and Indian Lake Drive, with a daily traffic count of 33,774 vehicles. The property is conveniently situated near US Highway 265 (104,118 VPD). The surrounding area features well-known national retailers such as Walmart, Target, Starbucks, Cinemark, Steak ‘n Shake, Wendy’s, and more. Additionally, it is surrounded...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Strategically located
Freeway visibility
Top 100 MSA
Strong demographics
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Jaggers Wikipedia Texas Roadhouse Wikipedia Louisville, Kentucky Zip Code 40241 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jaggers
Guarantor:Corp Traded
Company:Texas Roadhouse Inc
# Units:5
Stock: NASDAQ: TXRH

About Tenant

Jaggers is a fast-casual restaurant concept offering burgers, hand-breaded chicken tenders, and chicken sandwiches served with scratch-made sauces. In addition, the company offers fresh salads...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,538	65,476	153,431
2023 Total Population :	9,086	64,953	150,578
2023 Employed Civilian Pop :	5,136	35,398	78,528
2023 Total Businesses :	443	2,665	7,558
2023 Average Household Income :	$ 123,153	$ 136,918	$ 142,200
2023 Total Consumer Spending :	$ 433 M	$ 3108 M	$ 7611 M
2023 Median Age :	45	41	43
2023 Total Households :	4,107	26,772	63,066
2023 Pop Age 25+: Bachelor's Degree :	1,727	14,477	36,850
2023 Average Home Value :	$ 314,150	$ 358,102	$ 379,189

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Westport Rd	Shelburn PkDr	2012	34,400	0.16 mi
Fischer Park Dr	Shelburn PkDr	2009	3,970	0.17 mi
Westport Rd	Towne Center Dr	2012	34,353	0.21 mi
Springhurst Blvd	Freys Hill Rd	2009	10,540	0.24 mi
Westport Rd	Shelburn PkDr	2015	36,179	0.24 mi
Freys Hill Rd	Wemberley Hill Blvd	2012	3,225	0.27 mi
Springhurst Blvd	Fischer PkDr	2009	6,350	0.30 mi
Champion Farms Dr	Springhurst Commons Dr	2009	4,030	0.30 mi
		2018	5,362	0.31 mi
I-265 RAMP to KY 1447	Charteroaks Dr	2021	4,802	0.32 mi

Listing Broker

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