Louisville (Churchill Downs), KY - Dutch Bros

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dutch Bros investment property located in Louisville, Kentucky (Churchill Downs). The tenant, Dutch Bros, recently signed a brand new 15 year lease. The lease features 10% rental increases every 5 years throughout the initial term, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The subject property is strategically located at the signalized intersection of S. 3rd Street and Central Station Boulevard in Louisville, Kentucky, with access to Interstate 264 (175,100 VPD), Interstate 65 (129,800 VPD), and S. 3rd Street / State Highway 1020 (20,000 VPD). The property is positioned directly adjacent to Churchill Downs, the world-famous home of the Kentucky Derby, giving the asset an irreplaceable location near one of the most iconic annual sporting and entertainment events in the country. The Dutch Bros is also in close proximity to the University of Louisville (25,201 students) and is surrounded by a strong mix of national and regional tenants including Kroger, Planet Fitness, Cricket, McDonald’s, Papa Johns, Burger King, Arby’s, Subway, Walgreens, Dollar Tree, US Bank, Aldi, UPS, and more, further increasing daily consumer traffic to the site. In addition, the property benefits from nearby hospitality demand generated by several hotel brands including Courtyard, SpringHill Suites, Residence Inn, Fairfield Inn, Tru, and Hampton Inn. The subject property is also conveniently located approximately 10 minutes from Downtown Louisville and near Louisville Muhammad Ali International Airport, providing strong regional connectivity and additional economic support for the corridor. The surrounding 5-mile trade area is supported by a population of approximately 260,027 with an average household income of $70,373, making this an exceptional long-term retail location with strong underlying real estate fundamentals.

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Listing ID: a28TP000002bRT7YAM