Salon/Spa Unit / Cash Flow

Retail-Commercial for Sale
Catylist Listing ID: 30852539
Property Subtypes: Mixed Use, Retail-Pad
Building Size (RSF): 771 SF
Gross Building Area: See Agent
Sale Price: $150,000 - 160,000
Unit Price: $194.55 - 207.52 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2023

Overview / Comments

Nestled in the vibrant heart of Lexington, KY, and conveniently near the University of Kentucky, this meticulously renovated property stands as an exceptional investment prospect. With a reliable tenant's consistent punctuality over 3 years and a fresh 3-year lease extension, alongside upcoming rental adjustments, this property guarantees stability. The strategically upgraded interior, tailored for a salon and spa setup, coupled with its prime location in a rapidly expanding area, makes for an appealing opportunity foray into commercial property ownership.

Current Tenants

Tenant Business Name Brows Bar and Skin Care
Contact Name Jenny / Owner of Building only do not mention to business owner
Is Renting? Yes
Annual Revenue $16,620 (Annual)
Current Rent $1,385 PSF (Annual)
Escalations 2 years up to 1600-2000

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 99000600|3
Retail Clientele: Business
Property Located Between: UK and the MALL
Property Visibility: Excellent
Largest Nearby Street: Nicholasville Road
Traffic/Vehicle Count: 40,000
Highway Access: CLOSE
Airports: CLOSE Bluegrass
Site Description: Large building full of Tenants that use the services, pool access and two doors, remodeled and NEW HVACS tenant pays all maintenance
Area Description: By UK Hospital and UK close to the Mall as well
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2021
Construction/Siding: Brick
Parking Ratio: 16 (per 1000 SF)
Parking Type: Surface
Parking Description: plenty of parking around the building
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,255 150,332 246,339
Median Age: 37.1 34.98 35.62
Households: 6,037 65,505 104,752


Photograph of Listing Agent

Jenny Gregory

EXP Realty LLC KCREA Member
© Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions.