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1951 North Broadway, Lexington, KY 40505

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For Sale

$1,170,000

2,600 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $450.00
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 24001239

Courtesy Of Block + Lot Real Estate

(859) 309-0099

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    1.3 Acres

Map and Directions

Directions to 1951 North Broadway, Lexington, KY 40505

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CENTURY 21 Pinnacle

(859) 623-1900
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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