Richmond Industrial for Sale
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.
