3000 Breckenridge LnLouisville, KY 40220

For Sale
$5,272,400

High-return car wash, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a 3,600 square foot ZIPS Car Wash located at 3000 Breckenridge Ln, Louisville, KY 40220. Built in 2021, this single-story building sits on a 1.43-acre lot and boasts a 10.1-year remaining lease term (expiring 12/31/2034) with a corporate guarantee from ZIPS, a leading car wash operator with over 270 locations. The property benefits from a strong 7.00% cap rate and a Net Operating Income (NOI) of $369,069. The lease includes annual rent bumps of 1.5% and six five-year renewal options. The property is strategically located across from a Kroger, creating optimal retail synergy. All taxes, insurance, and maintenance are tenant responsibilities, maximizing depreciation benefits for the landlord. The property is conveniently located 7.7 miles from Louisville International Airport. This is a net lease investment with 100% occupancy. The asking price is $5,272,400. Detailed financial information is available upon request. This offering presents a compelling investment opportunity due to its strong tenant, favorable lease terms, and prime location.

Highlights

  • Outstanding retail parcel with high vehicular traffic (75th percentile on Breckenridge Ln, exceeding 61,000 cars daily with Taylorsville Rd traffic included), strong demographics (80th percentile household income, 85th percentile 1-mile population), and co-tenancy with Kroger and ZIPS Car Wash.
  • 2021-built, state-of-the-art conveyor car wash operated by a leading industry player with over 270 locations.
  • Excellent retail synergy with adjacent Kroger, attracting customers due to convenient location and ZIPS' nationwide wash membership program.
  • Landlord-friendly NNN lease with tenant responsibility for taxes, insurance, maintenance, and capital repairs; 1.5% annual rent increases; significant depreciation benefits.
  • Convenient location, 7.7 miles from Louisville International Airport (approx. 9-minute, $19 Uber ride).

Property Details for 3000 Breckenridge Ln

Property type
Other specialty properties, Other retail properties
Square Feet
3,600 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
62,291 SF

Location Insight

City
Louisville
County
Jefferson
State
Kentucky
Latitude
38.217041362193
Longitude
-85.627827977001
3000 Breckenridge Ln, Louisville, Kentucky

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3000 Breckenridge Ln
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