3600 Palomar Centre Dr - Restaurant FOR SALE


Lexington, KY 40513
$3,700,000 USD
859-309-0099
3600 Palomar Centre Dr, Lexington, KY for Sale
$3,700,000 USD
Restaurant - FOR SALE
1/24
null | 6.49% Cap Rate

3600 Palomar Centre Dr
Lexington, KY 40513


HIGHLIGHTS

  • Prime location within Palomar Centre, dominant retail corridor shadow anchored by Walmart, Publix, Malones.
  • Other trade area retailers include Chase, Bank of America, Traditional Bank, Panera, McDonalds, Qdoba, Starbucks, CHI Saint Joseph Health Care
  • Nationally-recognized Sedona Taphouse tenancy with strong brand identity and customer draw
  • Passive Absolute NNN lease structure with +/-$240,000 NOI/6.5% CAP
  • 10-year initial term with 1.5 years left, with four 5-year renewal options
  • High-traffic location near Harrodsburg Road & Man O’ War Blvd

OVERVIEW

Single Tenant Net Leased Investment Opportunity occupied by Sedona Tap House. The property is situated within the Palomar Centre shopping area, a thriving retail and residential hub on Harrodsburg Road. A casual, family-friendly restaurant specializing in Southwest-inspired cuisine, steaks, and seafood. It is highly regarded for its extensive craft beer selection - one of the largest in the community - and features a contemporary atmosphere with a fireplace and outdoor seating. Corporate Background: Sedona Taphouse is owned by DJB Hospitality LLC, founded by veteran restaurateur Dennis Barbaro. The company, which operates 16 locations, was established in 2011 to provide high-quality craft beer, wine, and food. Sedona Taphouse is known for its Southwest-inspired, scratch-made food, a large selection of craft beers, and a commitment to local community support. -Parent Company: Owned and operated by DJB Hospitality, which also manages the NAPA Kitchen & Wine concept-in 2020, DJB Hospitality described itself as a $50M business -Growth & Recognition: Sedona Taphouse has been named to the Inc. 5000 list of America’s fastest-growing private companies for5 consecutive years, as of late 2024. -Long-Term NNN Lease: One-and-a-half years remaining on the primary lease term, plus four five-year tenant options. -Completely passive NNN investment – ZERO landlord responsibilities. -Attractive 8% increases every 5 years in the Primary and Option Terms. Palomar Shopping Area: Subject property is located in the same shopping area shadow anchored by Walmart and Publix. Other trade area retailers include Chase, Bank of America, Traditional Bank, Panera, McDonalds, Qdoba , Starbucks, CHI Saint Joseph Health Care. -High traffic: US 68 cross Harrodsburg Road - 31,820 CPD. Harrodsburg Rd cross Man O’ War Blvd - 31,626 CPD

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$647 USD /SF

CAP RATE

6.49%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sedona Taphouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

B-1

APN/PARCEL ID

38174270

ASK ABOUT THIS PROPERTY

Rob LewisBlock+LotMore Info
859-309-0099

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Rob LewisBlock+LotMore Info
859-309-0099

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