5205 New Cut RdLouisville, KY 40214

For Sale
$4,900,000

High-traffic Louisville restaurant, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents Colonial Gardens, a fully leased, 18,697 square foot restaurant complex situated on a 1.43-acre lot in Louisville, Kentucky. Located at 5205 New Cut Rd, this property boasts high visibility and traffic counts due to its prime location directly across from the Iroquois Park Amphitheater. The property, built in 2021, features four independently leased restaurants operating under NNN (triple net) lease agreements, minimizing landlord responsibilities. The site includes 74 off-street parking spaces, a significant amenity for patrons. The property is zoned C-1 - Commercial District, and its Jefferson County APN is 062G00680000. The asking price is $4,900,000, representing a price per square foot of $262.07 and a projected cap rate of 6.00%. Potential exists for assumable debt and/or seller financing. This landmark property offers a compelling investment opportunity in a thriving Louisville location, benefiting from the high traffic volume and the draw of Iroquois Park and its amphitheater. The property's recent complete restoration and renovation ensures a modern and attractive space for tenants and patrons alike. This is a rare chance to acquire a stable, high-performing net-leased investment property with significant upside potential. Cash to seller or owner financing options are available.

Highlights

  • Assumable debt or seller financing available.
  • Triple-net (NNN) leases in place.
  • Recently constructed (2021).
  • Approximately 6.0% capitalization rate.
  • Adjacent BBQ restaurant also for sale.
  • Net-leased investment property.

Property Details for 5205 New Cut Rd

Property type
Other retail properties, Restaurants
Square Feet
18,697 SF
Year Built
2021
Lot Size (sq. ft)
62,291 SF

Location Insight

City
Louisville
County
Jefferson
State
Kentucky
Latitude
38.1609487
Longitude
-85.7787699
5205 New Cut Rd, Louisville, Kentucky

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5205 New Cut Rd
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