Dixie Depot Plaza

Short Description:
Dixie Depot Plaza located in Louisville, Kentucky, was built in 2009 to accommodate two of its highly recognizable tenants, Aspen Dental and Qdoba Mexican Grill. Aspen Dental is one of the fastest growing national dental offices in the country and is currently the leading provider of affordable dental care. Qdoba’s popular brand of Mexican burritos is expanding their chain throughout the region and have had incredible success already at this location. ZT of Louisville, LLC trades as Qdoba at 24 locations in Kentucky, Alabama and Tennessee making them the 3rd largest franchisee of Qdobas. ZT of Louisville had been patiently waiting for a prime location along Dixie Highway to open a Qdoba and have found that their choice in this plaza has far surpassed all of their expectations. Gaddie Eye Center, which has bee n the main optometry practice in Kentucky since 1968 now has 5 locations and is continuing their growth. The local optometry practice is well-known, trusted and highly recommended throughout the Greater Kentucky region.

Details
With the high profile mix of tenants that are present, the plaza is sure to draw customers and patients to the center and will prove to thrive for many years to come. The property sits on 1.05 acres and is in a prime location directly in front of Home Depot with significant frontage along Dixie Highway. The building’s inviting appearance, highly desirable tenant mix, popularity of its neighboring national retailers, and its location in front of Home Depot are key assets to this property’s success. The new (2009-2010) brick plaza boasts full occupancy with all tenants on Triple Net (NNN) leases and all have separately metered utilities. Qdoba Mexican Grill and Aspen Dental recently commenced their 10-year leases, while Gaddie Eye Center began their 5-year lease in May of 2010. All tenants reimburse Administrative Fees as well. Gaddie Eye Center made significant tenant improvements to their space, which shows their commitment to the plaza and to the area. With a 9.36% projected year-1 cash-on-cash return, Dixie Depot Plaza can provide the right investor with a brand new, well tenanted property in an affluent market in Louisville, Kentucky. The building is situated in a residential community along Dixie Highway, one of Louisville’s main and most heavily traveled roadways. Traffic counts along Dixie Highway are 42,271+ VPD at the intersection of Dixie Highway and Fury Way. Additionally, the featured property is located just south of I-264, a connection highway to I-65, I-64 and I-71, which are Kentucky’s main highways that run out of Downtown Louisville in all directions. The building provides an investor an opportunity to purchase a nationally leased center with long-term tenants in place, a new building with high-quality construction, and an investment property that provides ease of management and attractive curb appeal.

 Full Offering Memorandum