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Qdoba 4921 Outer Loop 3,000 SF Retail Building Louisville, KY 40219 $2,610,000 ($870/SF) 6.12% Cap Rate
Investment Highlights
- 9+ Years Remaining | Options To Extend | 10% Rental Increases | Strong Franchisee (105+ Units)
- Prime Retail Node | Outparcel To Jefferson Commons
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased QDOBA investment property located in Louisville, Kentucky. The tenant, North Fork Fresh Mex, LLC, recently exercised a renewal option early, demonstrating its commitment to the site and providing more than nine years of remaining lease term with two additional 5-year renewal options. The lease features 10% rental increases every five years throughout the remaining term and at the commencement of the remaining option periods, supporting NOI growth and providing a hedge against inflation. North Fork Fresh Mex, LLC is one of the largest franchisees in the QDOBA system, operating more than 105 locations nationwide. The lease is structured as absolute NNN with zero landlord responsibilities, making it an ideal management-free investment opportunity for a passive or out-of-state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,000 SF
Building Class
B
Year Built
2015
Price
$2,610,000
Price Per SF
$870
Cap Rate
6.12%
NOI
$159,720
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.63 AC
Zoning
C2 - Commercial
Parking
31 Spaces (10.33 Spaces per 1,000 SF Leased)
Frontage
140’ on Outer Loop
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 064301960000 | Improvements Assessment | $1,990,800 |
| Land Assessment | $551,380 | Total Assessment | $2,542,180 |
Property Taxes
Parcel Number
064301960000
Land Assessment
$551,380
Improvements Assessment
$1,990,800
Total Assessment
$2,542,180
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