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Bank of America | Abs NNN Ground Lease 10415 Southpointe Blvd 4,000 SF Retail Building Louisville, KY 40291 $4,793,390 CAD ($1,198.35 CAD/SF) 4.75% Cap Rate
Investment Highlights
- Recent 15-Year Lease | Scheduled Rental Increases | Options to Extend | New Construction | Drive-Thru Equipped
- Bardstown Rd (46,700 VPD) | Excellent Visibility | Outparcel to Hy-Vee | Strong National/Credit Tenant Presence
- Absolute NNN Lease | Leased Fee Ownership | Zero Landlord Responsibilities
- Direct, Affluent Consumer Base | Strong Demographics
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Bank of America investment property located in Louisville, Kentucky. The tenant, Bank of America, National Association, recently signed a brand new 15 year lease in July 2024 with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of option periods 1 and 2, steadily growing NOI and hedging against inflation. Options 3 and 4 are subject to increases at Fair Market Rental. The lease is an absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
Property Facts
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Bank
Building Size
4,000 SF
Building Class
B
Year Built
2024
Price
$4,793,390 CAD
Price Per SF
$1,198.35 CAD
Cap Rate
4.75%
NOI
$227,686 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.84 AC
Zoning
C2 - High Density Commercial
Parking
47 Spaces (11.75 Spaces per 1,000 SF Leased)
Frontage
1,198’ on Bardstown Road
Amenities
- Banking
- Pylon Sign
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 052601070000 | Improvements Assessment | $0 CAD |
| Land Assessment | $10,219 CAD | Total Assessment | $10,219 CAD |
Property Taxes
Parcel Number
052601070000
Land Assessment
$10,219 CAD
Improvements Assessment
$0 CAD
Total Assessment
$10,219 CAD
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Bank of America | Abs NNN Ground Lease | 10415 Southpointe Blvd
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