Starbucks Strip Center w/Drive-Thru

Highlights:

• High Profile Drive-Thru Pad Location In Blankenbaker Crossings - Dynamic Trade Area Near I-64 In Louisville, KY
• Prime Blankenbaker Parkway Location - High Traffic Commercial Corridor with approx. 30k VPD along Blankenbaker Parkway.
• Planned 150 AC Norton Childrens Hospital & Pediatric Campus - Long Term Retail Demand Driver
• Multi Tenant Leased Investment - Value Add Opportunity Through Leasing. Vacant 1,549 SF to lease up.
• Nationally & Regionally Recognized Tenants - Starbucks, Firehouse Subs & Qdoba
• Strong Trade Area Demographics (149,600 People Within 5 Miles, 71,700 employees Within 5 Miles)

Description:

Kentucky Broker of Record: Justin Baker, TRIO Commercial Property Group, License No. 204053
Faris Lee Investments is pleased to offer the fee-simple interest (land and building) in a 7,345-square-foot, drive-thru retail property located at 1831 Blankenbaker Parkway in Louisville, Kentucky. Situated on approximately 1.55 acres, this prime investment opportunity features a diverse and complementary tenant mix consisting of Starbucks, Firehouse Subs, and QDOBA Mexican Eats. The property is currently 79% occupied, with a 1,549-square-foot vacant suite providing an immediate value-add opportunity through lease-up. The asset also features 62 parking spaces, two access points from Blankenbaker Parkway and one from Bluegrass Parkway, prominent pylon signage, and drive-thru functionality. Each tenant operates under an NNN lease and reimburses the landlord for property taxes, insurance, and common area maintenance, providing limited landlord responsibilities and a simplified management structure.

The property is anchored by Starbucks Corporation (NASDAQ: SBUX), an investment-grade, BBB+-rated tenant that generated over $37 billion in fiscal 2025 revenue and operates over 41,000 locations worldwide. Starbucks occupies the property’s drive-thru endcap and has three five-year renewal options with scheduled rental increases. Firehouse Subs recently commenced a new 10-year lease extending through February 2036, which includes a 12.5% rental increase in March 2031 and two five-year renewal options. The brand operates more than 1,400 restaurants and benefits from the financial and operational support of Restaurant Brands International, the publicly traded parent company of Burger King, Popeyes, and Tim Hortons. QDOBA Mexican Eats, a nationally recognized fast-casual restaurant chain with more than 825 locations, is leased through April 2037 and has two five-year renewal options. The combination of nationally recognized tenants, staggered lease expirations, contractual rental increases, and renewal options provides diversified income and long-term cash-flow potential.

Within five miles, the property serves approximately 149,660 residents, 63,285 households, and 71,769 employees, with an average household income of approximately $125,419. Located approximately 14 miles east of Downtown Louisville and 15 miles from Louisville Muhammad Ali International Airport, the property combines existing cash flow, nationally recognized tenancy, strong trade-area fundamentals, and meaningful lease-up potential to create an attractive investment opportunity in one of Louisville’s most active commercial corridors.
Note: Current NOI is $148,043. Projected Stabilized NOI is $219,486 with lease up of the one vacancy.

Strategically positioned within Blankenbaker Crossings, the property benefits from excellent visibility along Blankenbaker Parkway, signalized access, and proximity to Interstate 64 and Interstate 265. The surrounding regional commercial corridor contains more than 1.5 million square feet of commercial space within two miles and is adjacent to Bluegrass Industrial Park, which supports more than 35,000 employees and generates a substantial daytime customer base.

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