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ERG Sells Pizza Hut Absolute Triple Net Lease

ERG Property Advisors is proud to announce the sale of Pizza Hut, locatedat 7509 Preston Highway in Louisville, KY. 
 
The tenant has an absolute triple net lease for a 2,476 SF building located on a 30,927 SF lot. The property sold for $1,040,000 which represents a cap rate of 7.69%.
 
The lease is 100% NNN with the tenant assuming the expense of all maintenance to the building and land. The current lease has 16 years remaining with one 5-year option. There are 12% rent increases every 5 years.
 
The subject property is a well-established Pizza Hut that has been operating at this location for over 35 years. The franchisee operates over 23 locations and is highly knowledgeable in this field.
 
Positioned on Preston Highway, the property features excellent exposure as one of the dominant retail areas. This Pizza Hut is located within minutes of Louisville International Airport, Churchill Downs Race Track (the home of the Kentucky Derby) and Louisville University.
 
Andrew Greenberg of ERG Property Advisors represented the buyer.
 
If you would like more information about this property, please contact Andrew Greenberg at (646) 253-0950 or agreenberg@ergpa.com
 
 
About ERG Property Advisors
 
ERG Property Advisors is a full-service commercial real estate brokerage company based in New York City. Its core activities are investment sales and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles.  Visit www.ergpa.com for recent deals and press coverage. 



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