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4796 Highway 2565

21,260 SF 100% Leased Retail Building Louisa, KY 41230 £994,791 (£47/SF) 9.31% Net Initial Yield

Investment Highlights

  • Largest Save A Lot Operator (Kentucky Based)
  • Build to Suit in 1998
  • Below Market Rent of ~$4/PSF at Each Store
  • 25+ Year Operating History
  • Recently Exercised Fifth Option at Each Location
  • Below Replacement Cost Purchase Price (~$55/PSF)

Executive Summary

Marcus & Millichap is pleased to offer for sale the fee simple interest in a retail asset in Kentucky in which Save A Lot franchisee Houchens Industries Inc. has double-net leases. Save A Lot has operated at this location since the buildings were constructed in 1998. The property sits on a generous lot (average 1.5 acres) near an interstate or U.S. highway where retailers are clustered. The location is near universities, hospitals and major retailers.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
21,260 SF
Building Class
B
Year Built
1998
Price
£994,791
Price Per SF
£47
Net Initial Yield
9.31%
NOI
£92,615
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.31
Lot Size
1.59 AC
Zoning
092-20-00-003.00
Parking
57 Spaces (2.68 Spaces per 1,000 SF Leased)
Frontage
260 ft on Highway 2565

Amenities

  • Freeway Visibility
  • Pylon Sign

Links

1 of 1

Nearby Major Retailers

Food City
Giovanni's Pizza

PROPERTY TAXES

Parcel Number 092-20-00-003.00 Improvements Assessment £0
Land Assessment £0 Total Assessment £605,726

PROPERTY TAXES

Parcel Number
092-20-00-003.00
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£605,726
(312) 624-7018

Contacts

  • Listing ID: 34061992

  • Date on Market: 03/12/2024

  • Last Updated:

  • Address: 4796 Highway 2565, Louisa, KY 41230

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4796 Highway 2565, Louisa, KY for sale Building Photo- Image 1 of 2
Louisa, KY, Save A Lot

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© 2024 CoStar Group

4796 Highway 2565
(312) 624-7018 x

4796 Highway 2565

1/2

Mitch Grant

(312) 624-7018

(312) 624-7018

Nicholas Kanich

(312) 327-5422

(312) 327-5422

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