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1951 N Broadway, Lexington, KY 40505
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1951 N Broadway, Lexington, KY 40505
1951 N Broadway, Lexington, KY 40505
1951 N Broadway, Lexington, KY 40505
1951 N Broadway, Lexington, KY 40505
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Team Pruitt

Team Pruitt

+1(502) 442-2030
$ 1,170,000
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1951 N Broadway Lexington, KY 40505

2,600 SqFt

UPDATED:

Key Details

Property Type Commercial Sale

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 2,600 sqft

Price per Sqft $450

Subdivision Commercial

MLS Listing ID 24001239

Year Built 1968

Lot Size 1.300 Acres

Acres 1.3

Property Sub-Type Retail

Property Description

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.

Location

State KY

County Fayette

Exterior

View Y/N N

Handicap Access No

Private Pool No

Others

Special Listing Condition Standard

Imagine MLS / Bluegrass Association of REALTORS (LBAR)
Listed by Block + Lot Real Estate
Team Pruitt

Team Pruitt

The Real Estate Team | License ID: 196568

+1(502) 442-2030

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1951 N Broadway

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