Building

Year Built

1968

Lot

Lot Size Acres

1.3

Lot Size Square Feet

56628

Remarks

Public Remarks

We are excited to offer 1.3 acres of flat, retail land off of N. Broadway for sale. The property is conveniently located just off Interstates 75/64 and only 0.8 miles from Downtown Lexington, and is conducive to redevelopment or to be used as is. The 2,600 SF former restaurant is currently leased until September 31, 2028 on a NNN lease to a home delivery meal service (Tenant pays property insurance and common area maintenance, and 60% of the property tax bill), and the back portion of the property to a food truck which is on a month-to-month agreement. The total income is $55,200/year with increases each year. Landlord is only responsible for roof and structure, 40% of the property tax bill, and maintaining the parking lot area leased to food trucks. The existing restaurant features many recent improvements and is in excellent condition, fully equipped. This would be a great opportunity for a future owner occupant or developer looking to enjoy income until taking over, or a buyer looking for future value add potential through the current tenancies. Immediately surrounding the site is a Shell gas station, Marathon gas station, and Days Inn and Suites.

Building and Property Details

Retail SqFt

2600

Usable SqFt

2600

Showing Information

Showing Instructions

Please contact agents to schedule a showing of this property.

Tax & Legal

Tax Rate

1.2643

Zoning Description

B-5P

Directions

Located on N Broadway right next to Haggard Lane and the interstate interchange.

Association/Community

Number Of Buildings

1

Special Listing Conditions

Standard

Yes

Business Type

Restaurant

Yes

Retail

Yes

Sale Includes

Building(s)

Yes

Land

Yes

Property Features