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$ 3,700,000
5,715 SqFt
$ 3,700,000
5,715 SqFt
Key Details
Property Type Vacant Land
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 5,715 sqft
Price per Sqft $647
Subdivision Commercial
MLS Listing ID 26006475
Year Built 2018
Lot Size 1.200 Acres
Acres 1.2
Property Sub-Type Retail
Property Description
Single Tenant Net Leased Investment Opportunity occupied by Sedona Tap House. The property is situated within the Palomar Centre shopping area, a thriving retail and residential hub on Harrodsburg Road. A casual, family-friendly restaurant specializing in Southwest-inspired cuisine, steaks, and seafood. It is highly regarded for its extensive craft beer selection - one of the largest in the community - and features a contemporary atmosphere with a fireplace and outdoor seating. Corporate Background: Sedona Taphouse is owned by DJB Hospitality LLC, founded by veteran restaurateur Dennis Barbaro. The company, which operates 16 locations, was established in 2011 to provide high-quality craft beer, wine, and food. Sedona Taphouse is known for its Southwest-inspired, scratch-made food, a large selection of craft beers, and a commitment to local community support. Parent Company: Owned and operated by DJB Hospitality, which also manages the NAPA Kitchen & Wine concept-in 2020, DJB Hospitality described itself as a $50M business Growth & Recognition: Sedona Taphouse has been named to the Inc. 5000 list of America's fastest-growing private companies for5 consecutive years, as of late 2024. Long-Term NNN Lease: One-and-a-half years remaining on the primary lease term, plus four five-year tenant options. Completely passive NNN investment - ZERO landlord responsibilities. Attractive 8% increases every 5 years in the Primary and Option Terms. Palomar Shopping Area: Subject property is located in the same shopping area shadow anchored by Walmart and Publix. Other trade area retailers include Chase, Bank of America, Traditional Bank, Panera, McDonalds, Qdoba , Starbucks, CHI Saint Joseph Health Care. High traffic: US 68 cross Harrodsburg Road - 31,820 CPD. Harrodsburg Rd cross Man O' War Blvd - 31,626 CPD Property Highlights: -Prime location within Palomar Centre, dominant retail corridor shadow anchored by Walmart, Publix, Malones. Other trade area retailers include Chase, Bank of America, Traditional Bank, Panera, McDonalds, Qdoba, Starbucks, CHI Saint Joseph Health Care -Nationally-recognized Sedona Taphouse tenancy with strong brand identity and customer draw -Passive Absolute NNN lease structure with +/-$240,000 NOI/6.5% CAP -10-year initial term with 1.5 years left, with four 5-year renewal options -High-traffic location near Harrodsburg Road & Man O' War Blvd
Location
State KY
County Fayette
Zoning Other
Exterior
Parking Features On Site, Paved
View Y/N N
Handicap Access No
Private Pool No
Listed by Block + Lot Real Estate