O'Charley's | 4yrs Remain Corp Abs NNN | 7414 Turfway Rd
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O'Charley's | 4yrs Remain Corp Abs NNN 7414 Turfway Rd
8,032 SF Retail Building Florence, KY 41042 $6,879,373 CAD ($856 CAD/SF) 6.65% Cap Rate
Investment Highlights
- ~4 Years of Term Remaining | Annual Increases
- Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
- Less Than 1.5 Miles From Florence Mall / 1.5 MM SF Of Retail Space
- Corporate Guarantor: American Blue Ribbon
- Located Near 4 Shopping Centers (Over 1 MM SF of Combined Retail Space) | Prominent Monument Signage
- Close Proximity To Cincinnati / Northern Kentucky International Airport
Executive Summary
SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building) in a freestanding, absolute NNN, corporate leased, O’Charley’s located in Florence, Kentucky. The tenant, O’Charley’s, has approximately 4 years remaining in the current term with 3 (5-year) options to extend. The lease features 1.75% rental increases annually throughout the initial term and 1.25% annual increases throughout the option periods, which generates steady NOI growth and hedges against inflation. The lease is an absolute NNN lease with zero landlord responsibilities, making it an ideal investment for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,032 SF
Building Class
C
Year Built/Renovated
1992/2015
Price
$6,879,373 CAD
Price Per SF
$856 CAD
Cap Rate
6.65%
NOI
$457,459 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.32 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial
Parking
108 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Monument Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 072.00-02-004.02 | Improvements Assessment | $3,449,856 CAD |
| Land Assessment | $718,720 CAD | Total Assessment | $4,168,576 CAD |
PROPERTY TAXES
Parcel Number
072.00-02-004.02
Land Assessment
$718,720 CAD
Improvements Assessment
$3,449,856 CAD
Total Assessment
$4,168,576 CAD
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O'Charley's | 4yrs Remain Corp Abs NNN | 7414 Turfway Rd
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