verizon
wireless
New verizon in
dense retail area
7701 Laurel Ridge Road, Louisville, KY 40219
For more info on this opportunity please contact:
zandy smith
[email protected] | (415) 274-2707
CA BRE# 01734525
kentucky cooperating broker:
Steven Shaffer
[email protected] | (502) 365-3840
License# 74233
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
chris peters
[email protected] | (415) 274-2703
CA BRE# 01339983
new freestanding verizon wireless under construction in
louisville, kentucky
Investment Highlights
The subject property is located less than 2 miles east of Interstate 65, the main north-south artery
connecting the Gulf to Lake Michigan. This Verizon store is just 7 miles from Louisville International
Airport and 14 miles from downtown Louisville.
PRICE: $2,269,302
CAP: 6.45%
RENTABLE SF. . . . 4,200 SF
PRICE PER SF . . . . $540.32
LAND AREA. . . . . . 1.045 Acres
LEASE TYPE. . . . . . NN
YEAR BUILT. . . . . . 2015
National Tenant
Verizon Wireless, ranked Best Wireless Service in the World by Global Traveler (2013), has the largest 4G LTE
network in the US
Verizon operates over 1,700 stores. 2014 revenue was $87.6 billion
prominent, high visibility building
Located adjacent to Jefferson Mall, anchored by Sears, Dillard’s, Old Navy, and Macy’s
Proposed Walmart Supercenter to open in 2016 directly behind subject property (call agent for details)
The subject property is located across the street from a new construction, 230,000 SF shopping center
called Jefferson Commons, which features HHGregg, Michael’s, Academy Sports, Hobby Lobby and
Ross
Located on an intersection with excellent access and visibility. Traffic counts on Outer Loop exceed
24,000 vehicles per day
Within a 5-mile radius, the population exceeds 166,800 people. Average household incomes are
$56,300
Brand new Corporate lease
7-year primary lease term with two (2) five-year options with 10% rental increases in the options
verizon | 2
Booming retail corridor
Located within minutes from Interstate 65, Interstate 265, and
the Louisville International Airport, there are 166,800 people
within a 5-mile radius.
Jefferson Mall, anchored by Sears, Macy’s, Dillard’s, and JC Penney, is located just
north of the Verizon store. The recently constructed 230,000 SF Jefferson Commons
features Michaels, HHGregg, and Academy Sport & Outdoors.
Shepherdsville
Road
convenient location
61
JEFFERSON MALL
Jefferson Boulevard
FESTIVAL AT JEFFERSON COURT
Okolona
Elementary
Outer Loop
61
24,600 DAILY
®
Laurel Ridge Road
Outer Loop
Hartstern
Elementary
JEFFERSON COMMONS
Proposed
Walmart
Supercenter
61
65
ston
Pre
y
hwa
Southern
High School
Hig
LOUISVILLE
CITY CENTER
verizon | 3
Surrounding Retail
Jefferson
Mall
®
Outer Loop
24,600 DAILY
JEFFERSON COMMONS
Proposed
Walmart
Supercenter
Located on the
corner of laurel
ridge road and
outer loop, facing
jefferson mall
ROSS
's
Dillard
verizon | 4
Income & Expense
PRICE
$2,269,302
Price Per Square Foot:
$540.31
Capitalization Rate:
6.45%
Total Rentable Area (SF):
4,200
Lot Size (Acres):
1.045
STABILIZED INCOME
Per Square Foot
Scheduled Rent
$35.00
$147,000
Effective Gross Income
$35.00
$147,000
LESS
Per Square Foot
Taxes
NNN
$0.00
Insurance
NNN
$0.00
Roof and Stucture Reserve ($.15)
($630.00)
EQUALS NET OPERATING INCOME
$146,370
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
verizon | 5
Rent Roll
TENANT INFO
Tenant Name
Verizon Wireless
Totals:
LEASE TERMS
Sq. Ft.
4,200
4,200
Term
RENT SUMMARY
Current
Rent
Monthly
Rent
Yearly
Rent
Monthly Rent/ Yearly Rent/
FT
FT
5/1/15
4/30/22
$147,000
$12,250
$147,000
$2.92
$35.00
5/1/22
4/30/27
Option 1
$13,475
$161,700
$3.21
$38.50
5/1/27
4/30/32
Option 2
$14,151
$169,806
$3.37
$40.43
$147,000
$12,250
$147,000
$2.92
$35.00
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
verizon | 6
Verizon Wireless
About verizon
Verizon was ranked
22nd on forbes list
of the world’s most
valuable brands
Verizon Communications Inc, headquartered in New York, is a global
leader in delivering broadband and other wireless and wireline
communications services to mass market, business, government
and wholesale customers. Verizon Wireless operates America’s most
reliable wireless network, serving more than 108.2 million customers
nationwide. Globally, they offer voice and data services in more
than 200 countries. Verizon Wireless employs 76,985 people and has
1,700+ company operated retail locations in the US. In 2014, Verizon
Wireless reported total revenue of $87.6 billion. On the Forbes lists
of the World’s Most Valuable Brands and the World’s Biggest Public
Companies, Verizon ranks #22 and #26, respectively.
2014 REVENUE
$87.6 BILLION
NUMBER OF EMPLOYEES
76,985
NUMBER OF LOCATIONS
1,700+
verizon | 7
Photos
high visibility of
verizon property
from surrounding
retail, jefferson
commons and
jefferson mall
across the street
Veri
zon
s
Toys’R’U
ey’s
O’Charl
Jefferson commons
Jefferson commons
traffic on outer loop
verizon | 8
Regional Map
Traffic counts
in excess of
24,600 vpd on
outer loop
e
Louisvill
Location
indianapolis
verizon
cincinnati
Outer Loop
Louisville
frankfort
Lexington
1 Hour
55 Miles
verizon | 9
Location & Demos
Louisville, KY Overview
Louisville is the largest city in the Commonwealth of Kentucky and the
28th most populous city in the United States, with a metro population of
1,315,900. The geography of Louisville, specifically its river accessibility,
central location, and mild climate have contributed to its importance
as a center for industry and commerce. The city has traditionally been a
manufacturing center for durable goods, including appliances, cars and
trucks, and has recently diversified, bringing more skilled and high-tech
employment opportunities.
Louisville was ranked #41 on Forbes’ list of Best Place for Business and
Careers in 2014. The Louisville area is headquarters to Fortune 500
companies Yum! Brands (which includes KFC), Kindred Healthcare, and
Humana, Inc. Manufacturing plants for GE Consumer Products, and Swift
& Co. are also located in Louisville.
The city is home to several institutions of higher learning including
the University of Louisville, Bellarmine University, Spalding University,
and Sullivan University. Louisville is a City of Parks. One of the nation’s
largest park expansions is currently underway, it will add 4,000 new acres
of park land and the 100-mile Louisville Loop trail encircling the entire
community.
Population
1-Mile
3-Mile
5-Mile
2010
8,959
72,896
164,809
2014
8,960
73,677
166,858
2019
9,118
75,538
171,504
1-Mile
3-Mile
5-Mile
Average
$50,461
$53,010
$56,317
Median
$40,190
$42,247
$44,436
2013 Household incomes
Top Employers in Louisville
Employer
United Parcel Service
Ford Motor Company
Norton Healthcare
Jewish Hosp. Healthcare Services
# of Employees*
17,206
9,903
7,850
5,450
*Approximate
verizon | 10
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zandy smith
[email protected] | (415) 274-2707
CA BRE# 01734525
chris peters
[email protected] | (415) 274-2703
CA BRE# 01339983
kentucky cooperating broker:
Steven Shaffer
[email protected] | (502) 365-3840
License# 74233
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