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About This Home
This 0-bedroom, 0-bathroom commercial at 1951 N Broadway in Lexington, KY is listed for $1,170,000 ($450 per sqft). Built in 1968, the home offers 2,600 sqft of living space on a 1.30 acres lot.
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 de
livery 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.
Key Features
- Built in 1968
- 1.30 acre lot
Property Details
Monthly Cost Estimate
$6,257/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1951 N Broadway
Lexington, KY 40505
Commercial
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 1951 N Broadway is listed at $1,170,000 ($450/sqft). The estimated monthly payment is $5,070 based on 20% down at 6.5% interest.
Key features include: Built in 1968, 1.30 acre lot.
This property is listed by Gregory Leveridge and can be reached at 8594218959 or greg@balrealestate.com.