For Sale
$1,715,690

1525 Lexington AveWinchester, KY 40391

High-performing Applebee's, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 5,498 square foot Applebee's restaurant in Winchester, Kentucky, situated on a 2.25-acre lot. The property boasts an absolute NNN lease with a corporate guarantor, offering passive income and minimal landlord responsibilities. The lease, commencing November 6, 2013, has a remaining term of 8.1 years, extending to December 31, 2032, with 10% rent increases every five years. The current annual net operating income (NOI) is $115,809, yielding a 6.75% cap rate. The asking price is $1,715,690, translating to $312.06 per square foot. Built in 2003, the property is located at 1525 W Lexington Ave, Winchester, KY 40391, less than half a mile from I-64 exit 94, benefiting from high visibility and convenient access. The property's strategic location within a thriving retail corridor, alongside national brands like McDonald's and Starbucks, ensures strong tenant performance and long-term value. The B-3 zoning provides flexibility for future redevelopment. This property is an ideal 1031 exchange opportunity. The property's size and location offer significant long-term security, even beyond the current lease term. The high-performing location and low rent-to-sales ratio increase the likelihood of lease renewals.

Highlights

  • $1,715,690 asking price for a 5,498 SF Applebee's restaurant in Winchester, KY.
  • Absolute NNN lease with zero landlord responsibilities; ideal 1031 exchange property.
  • 8.1 years remaining on the lease, with 10% rent increases every 5 years.
  • 6.75% cap rate and $115,809 annual net operating income (NOI).
  • Located less than half a mile from I-64 exit 94, with high visibility and strong co-tenancy.
  • Situated on a 2.25-acre lot, offering long-term redevelopment potential.

Property Details for 1525 Lexington Ave

Property type
Retail properties, Restaurants
Square Feet
5,498 SF
Year Built
2003
Buildings
1
Lot Size (sq. ft)
98,010 SF

Location Insight

City
Winchester
County
Clark
State
Kentucky
Latitude
38.0085071
Longitude
-84.2125737
1525 Lexington Ave, Winchester, Kentucky

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1525 Lexington Ave
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