901 Four Mile Rd - Industrial FOR SALE


Richmond, KY 40475
$4,300,000 USD
859-224-8833
901 Four Mile Rd, Richmond, KY for Sale
$4,300,000 USD
Industrial - FOR SALE
1/4
null | 6.14% Cap Rate

901 Four Mile Rd
Richmond, KY 40475


HIGHLIGHTS

  • Absolute NNN lease to LEXAIR INC. - $264,000/yr through March 2030, plus three 5-year options
  • 6.14% cap rate at $4,300,000 asking price ($118.30/SF)
  • Rare 5-acre site with sizable laydown yard and perimeter security fencing
  • Dock-high and drive-in loading fits logistics, distribution, assembly, and manufacturing
  • B-3 zoning and 5-acre footprint support future building expansion
  • I-75 access, 20 miles south of Lexington - Central Kentucky labor pool at Richmond's lower cost basis

OVERVIEW

Gibson Company is pleased to present 901 Four Mile Road, a 36,348 SF single-tenant industrial/flex facility on 5.0 flat, fully usable acres in Richmond, Kentucky, offered at $4,300,000 ($118.30/SF). The property is 100% leased to LEXAIR INC. on an absolute NNN basis through March 2030, delivering $264,000 in annual net operating income (a 6.14% cap rate at the asking price) with zero landlord obligations. Three 5-year renewal options at CPI-adjusted rent could extend the income stream through 2045. Built in 1999, the steel-frame building comprises 32,472 SF of warehouse and 3,876 SF of office in good condition. Dual loading - dock-high and drive-in doors - accommodates logistics, distribution, assembly, and light manufacturing users alike. The site offers ample on-site parking and a land-to-building ratio that is exceptionally scarce in the Richmond/I-75 industrial corridor. B-3 General Commercial/Industrial zoning and the 5-acre footprint provide a clear runway for future building expansion. The property sits in Flood Zone X, outside the 500-year flood plain. Richmond is the seat of Madison County - one of Kentucky's fastest-growing communities - anchored by Eastern Kentucky University and a 100,000+ person county trade area. Located on the I-75 corridor roughly 20 miles south of Lexington, the property captures Central Kentucky's labor pool and logistics network at Richmond's lower cost basis. With sub-50,000 SF industrial vacancy running near 4.8% nationally, the mid-size industrial segment remains effectively a landlord's market, supporting rent growth at renewal - an attractive profile for investors seeking durable in-place NNN income, with long-term optionality for a future owner-occupant.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$118 USD /SF

CAP RATE

6.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5

LAND SF

217,800

ZONING

B-3

APN/PARCEL ID

0068-0000-0008-F

ASK ABOUT THIS PROPERTY

James PowellThe Gibson CompanyMore Info
859-224-8833

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James PowellThe Gibson CompanyMore Info
859-224-8833

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