The Boulder Group completed the sale of a single-tenant net-leased Chase Bank property at 3600 Bardstown Road in Louisville, Kentucky, for $3.7 million.
The 3,176-square-foot Chase Bank benefits from its location along Bardstown Road, less than one mile from Interstate-264. The Chase is an outparcel to a Lowe’s.
Tenants nearby include Costco, Walmart, Target, Lowe’s, Burlington, Kroger, Harbor Freight, Walgreens, AutoZone, Dollar Tree, Valvoline, Verizon, T-Mobile, Chick-fil-A, KFC, Starbucks, McDonald’s, Taco Bell, Wendy’s, Arby’s, Pizza Hut, Chili’s White Castle, Jack in the Box, and Seneca High School (1,250+ students). The population is 253,663 within a five-mile radius, with an average annual household income of $94,633.
This triple net lease has over 11 years remaining with two 5-year renewal options. There are 10% rental escalations in each option. The property has annual deposits in excess of $83 million as of June 2024.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both parties in the transaction. The buyer is a Midwest-based institution, and the seller is a private family from the Midwest.
