1820 Blankenbaker Parkway
Louisville, KY 40245 ·
3,583 SF · Retail For Sale
|Building Size||3,583 SF||Cap Rate||8%|
|Property Use Type||Net Lease Investment with 5 years left on lease||Lot Size||1.08 AC|
|Listing ID: 17154883||Date Created: 05/11/2011||Last Updated: 08/16/2011|
ERG Property Advisors is pleased to offer the exclusive listing for a NNN Burger King. The subject property is located on Blankenbaker Parkway in Louisville, Ky. The Burger King is 3,583 square feet and sits on a 1.08 acres of land with 43 free surface parking spaces. The investment is an absolute NNN deal with 5 years remaing on the lease with six - five year options. The property has an initial cap rate of 8.00% and zero landlord responsibilities. A percentage rent clause is in effect for the lease and the options.
Listed on the NASDAQ (TAST), Carrols Restaurant Group, Inc., is a Syracuse, New York-based operator of three fast-food restaurant chains. It is the United States largest Burger King franchisee, owning and operating about 330 units in a dozen states in the Northeast, Mid-Atlantic, and Midwest. Carrols also owns a pair of Hispanic restaurant brands: Pollo Tropical and Taco Cabana. The company owns and operates 70 Florida units of Pollo Tropical and has another 20 franchised units, mostly located in Puerto Rico. The Miami-based chain offers Caribbean-inspired fare, including grilled chicken marinated in tropical fruit juices, and such side dishes as fried sweet bananas, fried yucca, black beans and rice, as well as desserts,including Caribbean Crème Cake and caramel custard. Carrols owns and operates about 140 Taco Cabana restaurants in Texas, Oklahoma, and New Mexico and has franchised a handful of units. The San Antonio-based chain offers Tex-Mex and Mexican dishes.
- Projected growth of households within a 1 mile radius estimated at 6.32% by 2013
- 6 Banks, 13 hotels, 18 restaurants and 4 universities are all in the immediate area
- Guarantor Traded on NASDAQ Under "TAST" (Carrols Corporation)
- 13 hotels along Blankenbaker Parkway with 1,089 rooms
- 5 years left on a 20 year lease that started in 1997
- Southeast Christian Church right down the street which has 350 employees and over 20,000 attendees each week
4902-4908 Preston Hwy Louisville, KY
Louisville, KY 40213
For Sale · $489,000
2,697 SF Building
No Photo3317 & 3319 Taylor Blvd.
Louisville, KY 40208
For Sale · $575,000
3,079 SF Building
10101 Dixie Highway
Louisville, KY 40272
For Sale · $1,290,000
2,554 SF Building
7290 Manslick Road
Louisville, KY 40214
For Sale · $320,000
4,130 SF Building
Free Standing Bldg
Not exactly what you're looking for? Start a new custom search to find the perfect property
The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.