For Sale
$6,306,524

2887 Richmond RdLexington, KY 40509

Prime Lexington retail, 100% occupied, strong tenants.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A retail investment opportunity presents a fully leased, three-tenant shopping center totaling 7,755 square feet situated on a one-acre lot in Lexington, Kentucky. The property, built in 2023, boasts a prestigious location on Richmond Road, a high-traffic corridor with nearly 40,000 vehicles per day, offering maximum visibility. Anchored by Panera Bread, Next Level Sports Nutrition, and AT&T, all with corporate guarantees, the center benefits from a 10-year lease term with built-in rent escalations and additional option periods. The property's strategic location between New Circle Road and Man O' War Boulevard places it within a thriving retail and restaurant hub, surrounded by a dense residential population and major employers like Valvoline, Aramark, and International Paper. The center features a prominent pylon sign and benefits from its proximity to Lowe's. This is a rare opportunity to acquire a trophy asset with a 5.25% cap rate and a $6,306,524 asking price, translating to $813.22 per square foot. The property is zoned B-3 and includes a drive-thru for Panera Bread. The Net Lease structure provides a secure and passive income stream. This is a turnkey investment ready for immediate returns. The property is a single-story building with three units.

Highlights

  • $6,306,524 asking price for a 7,755 SF retail property.
  • Triple-net (NNN) lease with corporate guarantees from Panera Bread, Next Level Sports Nutrition, and AT&T.
  • 100% occupancy with 10-year lease terms, including rent escalations and option periods.
  • Prime Lexington, KY location on Richmond Road (40,000 VPD), near New Circle Road and Man O' War Boulevard.
  • Class A, single-story building constructed in 2023, situated on a 1-acre lot.
  • 5.25% cap rate.

Property Details for 2887 Richmond Rd

Property type
Lifestyle centers, Power centers
Square Feet
7,755 SF
Class
A
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF
Units
3

Location Insight

City
Lexington
County
Fayette
State
Kentucky
Latitude
38.00764288
Longitude
-84.4522755
2887 Richmond Rd, Lexington, Kentucky

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2887 Richmond Rd
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