Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Louisville, KY - Seven Brew Coffee
2651 S Hurstbourne Parkway | Louisville, KY 40220
$1,462,000
Price6.5%
Cap Rate550 SF
± SF Building SizeDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, freestanding, drive-thru equipped, 7 Brew Coffee investment property located in Louisville, Kentucky. The tenant, Brew Team KY, LLC, Inc recently signed a brand new 10-year lease 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 each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Founded in 2017, 7 Brew is a popular and rapidly growing drive-thru coffee concept which now operates more than 118 locations. The property will feature brand new state-of -the-art construction and is slated to open in December 2023.
Location
7 Brew is strategically located near the signalized, hard corner intersection of State Highway 155 and South Hurstbourne Parkway which serves more than 202,0000 vehicles per day. Furthermore, the asset benefits from nearby on/off ramp access to Interstate 64 (128,000 VPD), making this an ideal, centralized location with easy commutes. The site is ideally positioned adjacent to Stony Brook, a 263,000 SF Community Center anchored by a Kroger that serves over 1.3M visitors per year and ranks in the 88th percentile nationwide (per Placer.ai). Other nearby national/credit tenants include Target, Home Depot, TJ Maxx, Dicks, Big Lots, Michaels, Petco, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the site is ideally situated within close proximity of multiple apartment complexes including Four Seasons Apartments (177 units), Fenwick Place Apartments (260 Units), The Pointe at Stoneybrook (130 units), and more, providing a direct residential consumer base from which to draw. The dense 5-mile subject trade area is supported by more than 229,000 residents and 164,000 daytime employees who boast an affluent average household income of more than $104,000.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |