1031 Contract St - Service FOR SALE


Lexington, KY 40505- East Lexington
$3,222,280 USD
203-253-9455
1031 Contract St, Lexington, KY for Sale
$3,222,280 USD
Service - FOR SALE
1/3
null | 6.75% Cap Rate

1031 Contract St
Lexington, KY 40505
East Lexington


HIGHLIGHTS

  • Strong Corporate Guarantee
  • Close Proximity to the University of Kentucky
  • Affluent Community
  • New Long-Term Triple-Net (NNN) Lease

OVERVIEW

Surmount and Bang Realty is pleased to present the exclusive listing for a Main Street Auto located at 1031 Contract Street, Lexington, KY 40505. The site consists of roughly 6,569 rentable square feet of building space on an estimated .84-acre parcel of land. Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $217,504 and has scheduled increases of 2.00% annually starting 3/1/2031.

FOR SALE DETAILS

PRICE

$3,222,280 USD

PRICE/SF

$496 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Main Street Auto

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

6

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.84

LAND SF

36,590

ZONING

I-1

APN/PARCEL ID

38015960

ASK ABOUT THIS PROPERTY

Edward OtockaSurmountMore Info
203-253-9455

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Edward OtockaSurmountMore Info
203-253-9455

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.