240 S Indiana Ave - Fast Food FOR SALE


Sellersburg, IN 47172
$2,049,000 USD
415-690-5522
240 S Indiana Ave, Sellersburg, IN for Sale
$2,049,000 USD
Fast Food - FOR SALE
1/8
null | 6.35% Cap Rate

240 S Indiana Ave
Sellersburg, IN 47172


HIGHLIGHTS

  • Long-term absolute NNN lease to Hardee’s with 17 years remaining, offering a stable investment opportunity
  • 10% rental increases every 5 years enhance returns, making it ideal for passive income growth
  • Tenant handles all taxes, insurance, and maintenance, including roof and structure, eliminating landlord responsibilities
  • Hardee’s, a CKE Restaurants brand with over 1,800 locations, benefits from strong brand recognition and operational scale
  • StarCorp LLC is a prominent franchisee of CKE Restaurants Holdings, Inc., operating over 140 Carl’s Jr.® and Hardee’s® locations across AZ, TX & more.

OVERVIEW

Prime Interstate Access: Located at 240 S Indiana Ave, Sellersburg, IN, just 1,000 feet from I-65’s on/off ramp (87,446 AADT), this Hardee’s benefits from exceptional visibility and traffic flow. The site sits on a key retail corridor with 15,863 AADT on S Indiana Ave, connecting to a broader network of high-traffic roads like County Road 311 (25,637 AADT). Its proximity to Louisville, KY (11.8 miles), amplifies its reach to a major metropolitan market. Absolute NNN Lease: This 20-year lease with Hardee’s is fully absolute NNN, with the tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot. The lease features 10% rent increases every 5 years, projecting significant income growth by year 20. This hands-off structure ensures a passive investment with no landlord obligations. Beneficial Proximity to Schools: Located minutes from 6 schools with a combined enrollment count of 5,700+ students: Ivy Tech Community College - Sellersburg Campus (approx. 1,900 students), Silver Creek High School (943 students), Silver Creek Middle School (760 students), Silver Creek Elementary School (899 students), Rock Creek Community Academy (661 students) and Silver Creek Primary School (550 students). Modern Construction: Built in 2022, this 1,828 SF Hardee’s on a 0.64-acre lot offers 20 parking spaces and a prominent pylon sign visible from I-65, maximizing customer access and visibility. The design aligns with Hardee’s focus on convenience, featuring a drive-thru and updated interior layout to handle high-traffic periods efficiently. Its recent construction minimizes near-term capital expenditures, boosting investor returns. Demographic Strength & Retail Synergy: The 5-mile radius boasts 41,530 adults, projected to grow to 44,168 by 2029, with a median household income of $86,506 (rising to $101,063). Within 1 mile, 3,714 adults and a $57,501 median income (projected $64,234 by 2029) provide a solid local customer base. This income growth and population density ensure sustained consumer spending power. Surrounded by residential areas and national QSRs like McDonald’s and Arby’s, the site leverages a competitive yet complementary retail environment. Its position near I-65 and local traffic drivers enhances footfall, with 92% of adults visiting fast-food restaurants in the last 6 months. The strong presence of nearby brands amplifies Hardee’s draw.

FOR SALE DETAILS

PRICE

$2,049,000 USD

PRICE/SF

$1,121 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hardee's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,342 SF

ZONING

-

APN/PARCEL ID

10-17-11-000-594.000-031

ASK ABOUT THIS PROPERTY

Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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Vincent AicaleCushman & WakefieldMore Info
415-690-5522

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.