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Newly Constructed Jaggers Ground Lease

10690 Westport Road, Louisville, KY, USA Map

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Listing Price $2,188,889

Status Active
Lease Type Ground Lease
Property Type Retail
CAP Rate 4.5%
GLA (Sq. Ft.) 2,824
NOI $98,500
Lease Term Remaining 11 Years
Increases 10% in Year 6; 10% in Options
Options 3 x 5 Years
State (BOR) KY
Broker of Record Colby Haugness
License # (BOR) 242197

Investment Highlights

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  • Jaggers is the New Fast Casual Concept Started in 2014 by Subject
    Guarantor Texas Roadhouse (NASDAQ:TXRH), which has a B2 Credit
    Rating, 700+ Locations, and Over 73,000 Employees
  • At the Intersection of Westport Road (33,774 Vehicles Per Day), and
    US-265 (104,118 Vehicles Per Day) (Source: LandVision, CoStar,
    2022)
  • Exciting and New Retail Corridor | Nearby National Retailers Include:
    Walmart, Target, Starbucks, Cinemark, Steak ‘n Shake, Wendy’s, Bob
    Evans, Holiday Inn, Taco Bell, Office Max, Chipotle, Home Depot, and
    Others
  • Newer Residential Developments Include Legends Apartments, the
    Indian Springs Subdivision, Champion Farms Apartments, and the
    Exclusive Owl Creek Neighborhood
  • Jaggers is Next Door to Aloft Louisville East, an 126-Room Boutique
    Marriot Concept that Won the 2021 Tripadvisor Travelers Choice Award
  • Affluent Community with an Average Household Income of Over
    $127K Within Five Miles of the Subject Asset, as of 2022
  • Subject is 14 Miles from Louisville International Airport, Serving 4.2
    Million Passengers Annually (flylouisville.com)
  • Parks and Outdoor Recreational Facilities Nearby Include: Churchill
    Downs, Louisville Zoo, Long Run Park, Valhalla Golf Club, Tom Sawyer
    State Park, Iceland Sports Complex, and More
  • Subject is 13 Miles from Downtown Louisville and All the Amenities it
    has to Offer, with a Population of 628,594

Investment Overview

High Visibility Jaggers Fast Casual Ground Lease | Newly Constructed Prime 2,824 Square-Foot Jaggers on One Acre with a Double Lane Drive-Thru, Ample Parking, Pylon Signage, and Easy Ingress/Egress. Low Rent Ground Lease with a 11-Year Base Term and Zero Landlord Responsibility | 10% Rent Escalation in Year 6 and in Each of the 3 x 5-Year Options.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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