241 Eastern Bypass, Richmond, KY 40475 (MLS# 26015525)

241 Eastern Bypass, Richmond, KY 40475

$2,300,000

Property Type: Commercial Sale Square Footage: 5,667 Lot Size (sq. ft.): 49,658 Status: Active

Current Price: $2,300,000 List Date: 6/30/2026 Last Modified: 9/01/2026

Overview

Description

HIGH TRAFFIC UNIVERSITY CITY-PRIME COMMERCIAL/ RESTAURANT - NNN LEASE - 6.86% CAP Impeccably and very recently renovated restaurant. The property is leased on a triple net basis to Parlour Pizza, a growing regional restaurant operator with multiple locations in Kentucky and Indiana. High visibility directly off I-75 (appx 65,000 VPD) on the Eastern Bypass (major commercial corridor, appx 30,000 VPD) Surrounded by national retailers, hotels and student housing, this property benefits from strong local and visitor traffic, making it a prime location. NOI first 5 years is $158,000, 5 5-year options, 10% rent increase with each 5 year option.

Listing Details MLS# 26015525

Listing Information

Comp Sale YN: No
Property Sub Type: Business

Status Change Information

Price Change Timestamp: 2026-09-01T19:29:40Z
Status Change Timestamp: 2026-06-30

Address

County: Madison
Street Number: 241
Street Name: Eastern
Street Suffix: Bypass
State: KY
Zip Code: 40475
Zip +4: 2355
Parcel Number: R002-0007-0010-A

Contract

Original List Price: 2650000
Start Showing Date: 2026-06-30
Listing Contract Date: 2026-06-30
Listing Agreement: Exclusive Right To Sell
Owner Name: Commercial
Occupant Type: Tenant
Office Exclusive YN: No
List Price/SqFt: 405.86

Tax Legal

MLS Area Major: 008 - Madison County
Subdivision Name: Eastern Bypass

Interior

Living Area: 5667
Living Area Units: Square Feet
Building Area Total: 5667
Building Area Source: Appraiser
Building Area Units: Square Feet

More Information

Parking Information

Parking Total: 55

Building

Basement YN: No
Year Built: 2010
Stories Total: Yes
Accessibility Features YN: Yes

Lot

Lot Size Acres: 1.14
Lot Size Square Feet: 49658

Utilities

Cooling YN: Yes
Heating YN: Yes

Remarks

Public Remarks: HIGH TRAFFIC UNIVERSITY CITY-PRIME COMMERCIAL/ RESTAURANT - NNN LEASE - 6.86% CAP Impeccably and very recently renovated restaurant. The property is leased on a triple net basis to Parlour Pizza, a growing regional restaurant operator with multiple locations in Kentucky and Indiana. High visibility directly off I-75 (appx 65,000 VPD) on the Eastern Bypass (major commercial corridor, appx 30,000 VPD) Surrounded by national retailers, hotels and student housing, this property benefits from strong local and visitor traffic, making it a prime location. NOI first 5 years is $158,000, 5 5-year options, 10% rent increase with each 5 year option.

Building and Property Details

# of Floors Serviced: Yes
# of Men's Restrooms: Yes
# of Women's Restrooms: Yes

Showing Information

Showing Instructions: Please call Beth regarding showings. Current tenant is operating business there. No actions shall disturb or inconvenience tenant.

Property Features

Utilities: Electricity Connected; Sewer Connected; Water Connected; Electricity Connected; Sewer Connected; Water Connected Building Features: Concrete Floor; Kitchen Facilities Business Type: Food & Beverage; Restaurant Ceiling: Dropped; Open Construction Materials: Brick; Wood Siding Cooling: Electric Docks: None Existing Lease Type: NNN Heating: Electric Listing Terms: 1031 Exchange; Cash; Conventional Parking Features: On Site; Paved Possession: Subject To Tenant Rights Sale Includes: Leases Sewer: Public Sewer Tenant Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Insurance; Interior Maintenance; Sewer; Taxes; Trash Collection; Water Showing Requirements: Call Listing Agent; No Sign; Restricted Hours

Documents

Confidentiality Agreement ›

Listing Office: Rector Hayden Realtors

Last Updated: September - 01 - 2026

Information deemed reliable but not guaranteed.