LocationSomerset is the seat of Pulaski County which has a population of nearly 65,000. It borders Lake Cumberland, a popular vacation destination that brings in almost 4,000,000 tourists each year. The property is in an excellent location along US-27 which boasts a traffic count of 27,841 VPD. This is a dense commercial corridor in Somerset with surrounding retailers including Kroger Marketplace, Lowe's, Walmart, Chick-fil-A, Texas Roadhouse, Steak 'n Shake, T.J. Maxx, Hobby Lobby, and many others. This Chili's is positioned as an out parcel to a larger planned commercial development.SaleSVN Stone Commercial is pleased to present this new 10-year NNN Ground Lease Chili's investment offering in Somerset, KY. Rent commenced and Chili's opened November 2019, and they have just over 9 years remaining on the initial term of the lease. The annual rent is $94,000 for years 1-5 and has a 10% rental increase years 6-10 with four 5-year options. The lease is guaranteed by Brinker Restaurant Corporation (Brinker International) which has over 1,600 restaurants in 31 countries and generated over $3B in revenue in 2019. Please contact Nathan Dilly at [email protected] or 859-420-5492 for additional information.
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