2887 Richmond Rd - Storefront Retail/Office FOR SALE


Lexington, KY 40509
$6,306,524 USD
502-271-5820
2887 Richmond Rd, Lexington, KY for Sale
$6,306,524 USD
Storefront Retail/Office - FOR SALE
1/11
null | 5.25% Cap Rate

2887 Richmond Rd
Lexington, KY 40509


HIGHLIGHTS

  • 10 year lease terms with rental escalations and corporate guarantee
  • Maximum visibility from Richmond road with nearly 40,000 VPD
  • Successful relocation of Panera Bread from its former location on Richmond Rd, with the added convenience of a drive-thru window
  • Centrally located between Lexington’s New Circle Rd & Man O’ War Blvd
  • Surrounding area boasts dense residential and a thriving daytime population
  • Trade area is home to a wide array of employers, including Valvoline World Headquarters, Aramark and International Paper

OVERVIEW

Qualified investors are extended the opportunity to acquire a 100% fee simple interest in a premier three-tenant inline retail center located in Lexington, KY and fully guaranteed by Panera Bread, Next Level Sports Nutrition and AT&T corporate. The subject development was completed in 2022 by Louisville, KY based firm, Hogan Real Estate. The 7,755 SF building is fully leased with original 10-year terms which commenced in Q4 of 2022, all with rent escalations and additional option periods. Next Level Sports Nutrition and AT&T have two (2), five (5) year option periods and Panera Bread has three (3), five (5) year option periods. The site is situated in front of Lowe’s and has excellent street-front visibility from the heavily trafficked Richmond Road, which receives nearly 40,000 VPD. The property is centrally located in a prominent, bustling retail and restaurant hub between New Circle Road and Man O’ War Boulevard, with a newly constructed retail development directly across Richmond Road. The development also features a large pylon sign very visible from both directions on Richmond Road. The surrounding area is home to a wide array of employers including Valvoline World Headquarters, Aramark and International Paper, providing a thriving daytime population.

FOR SALE DETAILS

PRICE

$6,306,524 USD

PRICE/SF

$835 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pin Oak Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.64 AC

LAND SF

114,894 SF

ZONING

B-3

APN/PARCEL ID

25833025

ASK ABOUT THIS PROPERTY

Justin PhelpsHogan Real EstateMore Info
502-271-5820

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Justin PhelpsHogan Real EstateMore Info
502-271-5820

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