Strickland Brothers

7770 Dixie Highway, Louisville, KY 40258

$2,026,000

Cap Rate 6.50%

Views: 160 DOM: 400 Updated: 09.05.24 Posted: 10.18.23 Status: Active

Summary

Price $2,026,000	Built/Renov 2023	Tenant Strickland Brothers
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,609	Lease Start 03-20-2023	#Units 173
Price/SF $1,259.17	Expiration 06-30-2038	Tenant Type Automotive
NOI $131,700	R. Term 13.7	Ownership Fee Simple
Rent/SF $81.85	Increases 10.0%/5/yrs	Pop 5Mi 153,554
Lot/AC 0.61	Options 4/5yrs/10%	AHHI 5Mi $72,242

Lease Highlights

Brand-new 2023 state-of-the-art construction
Tenant recently signed a new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout initial term and options
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This newly constructed Strickland Brothers is strategically located along Dixie Highway which sees approximately 37,200 vehicles passing by daily. The site is less than 1.5 miles from many national tenants including Home Depot, Lowe’s, Walmart, Burlington, Hobby Lobby, and many more, creating a strong draw to the trade area. Additionally, it is about 2 miles from Jefferson Community &...

...

Key Features

New construction
Near major nationals
Highway location
Dense 100M+ pop 5 mi
Top 100 MSA
Brand new lease
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee

...

Links

Strickland Brothers Wikipedia Louisville, Kentucky Zip Code 40258 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:173
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,744	71,215	153,474
2023 Total Population :	8,540	71,588	153,554
2023 Employed Civilian Pop :	4,023	35,868	74,726
2023 Total Businesses :	230	1,467	3,272
2023 Average Household Income :	$ 86,438	$ 79,142	$ 72,242
2023 Total Consumer Spending :	$ 269 M	$ 2003 M	$ 3888 M
2023 Median Age :	42	41	40
2023 Total Households :	3,600	29,109	61,711
2023 Pop Age 25+: Bachelor's Degree :	721	7,372	14,630
2023 Average Home Value :	$ 264,269	$ 246,519	$ 225,449

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Dixie Hwy	Fury Way	2012	37,311	0.11 mi
Greenwood Rd	Greenwood Manor Rd	2010	15,345	0.39 mi
Greenwood Rd	Ralston Ave	2010	17,600	0.47 mi
Dixie Hwy	Saint Andrews Church Rd	2007	52,530	0.52 mi
E Pages Ln	Standing Oak Dr	2010	8,381	0.62 mi
W Pages Ln	E Pages Ln	2010	6,732	0.66 mi
Sky Blue Ave	Vassar Ave	2010	5,754	0.68 mi
Saint Andrews Church Rd	Woody Ln	2012	17,011	0.75 mi
Maryman Rd	Entrance Rd	2009	1,934	0.76 mi
Greenwood Rd	Feyhurst Dr	2010	15,350	0.82 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27466 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28474 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

...

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT