1708 Dixie HwyElizabethtown, KY 42701

For Sale
$1,943,923

Kentucky Net Lease QSR

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a freestanding Bob Evans restaurant located at 1708 N Dixie Hwy, Elizabethtown, KY 42701. The property boasts 3,459 square feet on a 0.87-acre lot, built in 1985. Currently operating under a 20-year Triple Net (NNN) lease, commencing April 28, 2017, and expiring April 30, 2037, this lease offers significant remaining term of approximately 12.4 years. The tenant, a corporate guaranteed entity, provides exceptional creditworthiness. The current annual net operating income (NOI) stands at $126,355, with a built-in 2% annual rent increase. This translates to a compelling 6.50% cap rate, making this a highly attractive investment opportunity in the thriving Elizabethtown market. The property enjoys 100% occupancy, offering immediate cash flow and long-term stability. This is a rare chance to acquire a well-established, high-performing QSR property with a strong tenant and a secure lease structure. The property's location on N Dixie Hwy ensures high visibility and accessibility, contributing to its consistent performance. This investment offers a blend of stability, strong returns, and long-term growth potential.

Highlights

  • Bob Evans Restaurant, 3,459 SF, on a 0.87-acre lot at 1708 N. Dixie Hwy, Elizabethtown, KY.
  • 20-year NNN lease, commencing 4/28/2017, with 12.4 years remaining.
  • Current annual rent: $126,355, with 2% annual increases; $1,943,923 asking price, 6.50% cap rate.
  • Corporate guaranteed net lease.
  • 100% occupancy.

Property Details for 1708 Dixie Hwy

Property type
Other retail properties, Restaurants
Square Feet
3,459 SF
Year Built
1985
Lot Size (sq. ft)
37,897 SF

Location Insight

City
Elizabethtown
County
Hardin
State
Kentucky
Latitude
37.7334351
Longitude
-85.8873096
1708 Dixie Hwy, Elizabethtown, Kentucky

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1708 Dixie Hwy
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