Logan’s Roadhouse

2945 Wimsatt Ct. - Owensboro KY 42303

LTV (Loan to Value)	65.00%	Current NOI	$229,000.00
Interest Rate	4.250%	Capital Rate	7.000%
Fixed Term	10 Years	Land Area	+/- 1.5 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$2,126,150.00	Property Type	Retail
Payment	$11,518.16	Property Lease	Food Service
Bulding Size	0 SF	Remaining Terms	17 Years

Location Description

NNN Lenders is offering for sale to qualified investors the opportunity to purchase the fee-simple interest in the Logan’s Roadhouse located at 2945 Wimsatt Court, Owensboro, Kentucky 42303. The property is currently offered under a Twenty (20) year lease with over seventeen (17) years remaining and three (3), five (5) years option periods. Improvements are a +/- 6,000 square feet free-standing building in the rapidly expanding East Side section of Owensboro. The property is a restaurant pad at the off-ramp of US Highway 60 at Highway 54 among a multitude of newly-built and planned retail development. The property is shadow-anchored by a new Walmart Supercenter and Menards shopping center. Just east, a brand new Academy Sports, Kohls, and Aldi are also joining the mix. Heavy residential and retail development is slated for the northeast quadrant of the US Highway 60 and Hwy 54. Major retailers are flocking to the new East Leitchfield corridor of Owensboro from the older South Frederica retail corridor of Owensboro.

Highlights

Long-Term Lease - Seventeen (17) years remaining on the current lease with a 2017 rental increase of 10% bringing the…

Property Description

Owensboro is a city in Daviess County, Kentucky and is the principal city of the Owensboro metropolitan area. Owensboro is the second-largest city in the Tri-State region that includes a 30-county area in southeast Illinois, southern Indiana and north central Kentucky. Owensboro is the 4th-largest city by population in the state of Kentucky and is located on U.S. Route 60 about 32 miles southeast of Evansville, IN and 107 miles southwest of Louisville, KY. The city’s population was estimated at 98,000 in 2013, with a Labor Market area population of 494,000. Owensboro is the industrial, medical, retail and cultural hub of western Kentucky. The City is strategically located on the southern banks of the Ohio River, which provides a majestic backdrop to the Downtown Revitalization initiative and Riverfront Master Plan that is nearly completed. The $270 million public and private downtown and riverfront investment includes a river front park, two downtown hotels and the Owensboro Convention Center.