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.
The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.
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