319 Cedar StLexington, KY 40508

Property Details for 319 Cedar St

Year built

2012

Lot size

0.23 AC

Property size (Sq ft)

6,192 SF

Zone code

B-2A

Property type

Turn key restaurants

APN

14787600

APU

14787600

Description

This exceptional Class A, 8,700 square foot, four-story brick building offers a reimagined retail and restaurant leasing opportunity in the heart of downtown Lexington, Kentucky. Located steps from Rupp Arena and the University of Kentucky campus, this highly visible corner location on South Broadway and Cedar Street boasts approximately 26,000 vehicles passing daily and significant foot traffic. The available space totals approximately 4,200 square feet of first-floor retail/restaurant space, divisible into units as small as 2,100 square feet, with a maximum contiguous space of 4,200 square feet. A fully equipped kitchen is located in the basement, and patio space may be available. The building, constructed in 2012, includes an elevator, sprinkler system, and dumbwaiter. A modified gross lease structure is offered, with tenants responsible for a percentage of utilities, maintenance, and common area expenses. Ample parking is available after 6 pm for restaurant or bar use, due to weekday professional office space hours ending at 4:30 pm. Rent abatement may be available for qualified tenants. The building is zoned B-2A and is situated in Fayette County. This property presents a unique opportunity for businesses seeking a high-profile location with excellent visibility and modern amenities.

• CAP approach

  CAP return

  Valuation

  6%

  $1,389,799

  6.5%

  $1,282,891

  7%

  $1,191,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,285,993

  Geo Method

  $1,343,178

• Alternative Use

  Use

  Valuation

  Residential

  $1,082,167

  Hospitality

  $991,259

  Educational

  $824,716

  Medical

  $853,079

  Retail

  $1,282,891

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0444

Longitude

-84.5057

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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