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O'Charley's | 4yrs Remain Corp Abs NNN 7414 Turfway Rd 8,032 SF Retail Building Florence, KY 41042 $4,527,000 ($563.62/SF) 7% Cap Rate
Investment Highlights
- ~4 Years of Term Remaining | Annual Increases
- Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
- Less Than 1.5 Miles From Florence Mall / 1.5 MM SF Of Retail Space
- Corporate Guarantor: American Blue Ribbon
- Located Near 4 Shopping Centers (Over 1 MM SF of Combined Retail Space) | Prominent Monument Signage
- Close Proximity To Cincinnati / Northern Kentucky International Airport
Executive Summary
SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building) in a freestanding, absolute NNN, corporate leased, O’Charley’s located in Florence, Kentucky. The tenant, O’Charley’s, has approximately 4 years remaining in the current term with 3 (5-year) options to extend. The lease features 1.75% rental increases annually throughout the initial term and 1.25% annual increases throughout the option periods, which generates steady NOI growth and hedges against inflation. The lease is an absolute NNN lease with zero landlord responsibilities, making it an ideal investment for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,032 SF
Building Class
C
Year Built/Renovated
1992/2015
Price
$4,527,000
Price Per SF
$563.62
Cap Rate
7%
NOI
$316,859
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.32 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial
Parking
108 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
O'Charley's is a privately held casual dining restaurant chain based in Nashville, Tennessee, founded in 1971 by Charley “Sonny” Watkins. The company specializes in Southern-inspired American cuisine, featuring signature soft yeast rolls, prime rib, chicken, seafood, and desserts. O'Charley's expanded regionally under franchisee David K. Wachtel through the 1980s and went public in 1990. In 2012, it was acquired by Fidelity National Financial’s American Blue Ribbon Holdings, and later became part of Cannae Holdings, Inc. in 2018. The company remains a subsidiary under Cannae Holdings.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 072.00-02-004.02 | Improvements Assessment | $2,400,000 |
| Land Assessment | $500,000 | Total Assessment | $2,900,000 |
Property Taxes
Parcel Number
072.00-02-004.02
Land Assessment
$500,000
Improvements Assessment
$2,400,000
Total Assessment
$2,900,000
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