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508 Lexington St 1,812 SF Retail Building Versailles, KY 40383 $767,756 CAD ($423.71 CAD/SF) 6.76% Cap Rate
INVESTMENT HIGHLIGHTS
- Located across from Kentucky's largest Kroger supermarket
- Great visibility with easy access points.
- Surrounded by national and regional retailers - Chipotle, Kroger, Wendy's Starbucks, Dunkin, etc.
EXECUTIVE SUMMARY
There is 3 years 10 months remaining on the original lease term
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Below market rent with income upside.
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Tenant responsible for all utilities, property taxes, and HVAC preventative maintenance.
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Resilient business – with drive-through access.
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Positioned along a major retail and traffic corridor.
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Located across the highway from Kroger – Kentucky’s most popular grocery store.
?
Surrounded by national and regional retailers: Chipotle, Valvoline, Kroger, Wendy's, Starbucks, and Dunkin.
?
Great visibility, from road, with two easily accessible entry points.
?
Abundance of parking on adjacent rear lot.
Landlord maintains property insurance on the premises.
Tenant is responsible for real estate taxes, repairs and maintenance and utilities.
?
Below market rent with income upside.
?
Tenant responsible for all utilities, property taxes, and HVAC preventative maintenance.
?
Resilient business – with drive-through access.
?
Positioned along a major retail and traffic corridor.
?
Located across the highway from Kroger – Kentucky’s most popular grocery store.
?
Surrounded by national and regional retailers: Chipotle, Valvoline, Kroger, Wendy's, Starbucks, and Dunkin.
?
Great visibility, from road, with two easily accessible entry points.
?
Abundance of parking on adjacent rear lot.
Landlord maintains property insurance on the premises.
Tenant is responsible for real estate taxes, repairs and maintenance and utilities.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,812 SF
Building Class
C
Year Built
1976
Price
$767,756 CAD
Price Per SF
$423.71 CAD
Cap Rate
6.76%
NOI
$51,891 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.34 AC
Zoning
C-140 - Commercial
Parking
16 Spaces (8.83 Spaces per 1,000 SF Leased)
Frontage
79’ on Lexington Rd
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 30-8003-002-02 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $533,429 CAD |
PROPERTY TAXES
Parcel Number
30-8003-002-02
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$533,429 CAD
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508 Lexington St
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