Industrial Space for Sale

Industrial for Sale
Catylist Listing ID: 30852915
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 69,280 SF
Sale Price: $6,500,000
Unit Price: $93.82 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Last Updated: 9/19/2023

Overview / Comments

Industrial Building in I-2 Zoning for sale that consists of 69,280 sqft. The property is perfectly located 2 Miles from New Circle Rd, 3.8 Miles from Downtown Lexington, and 4 Miles from I-75. The Building is a multi tenant building (2 spaces) with Nippon Express renting 34,163 sqft with their lease expiring April 30th, 2024 with two five year options to extend. These extensions periods include rent escalations. First five year extension rents will be raised from the current annual rent of $191,316 to $210,444 if extended. If lease extended for second extension term annual rents will increase to $231,492. On the second extension term the tenant will also be required to pay an additional $0.35 per square foot for CAM fees.

The other 35,117 sqft is available space for lease. The vacant space comes with (3) 5 ton cranes and (1) 10 ton crane. It also has (2) functional loading docks (9x10) with dock levelers and (3) drive in doors (21x16). Around 1,000 sq.ft in office space and fully sprinkled.

The total building consists of 6 loading docks, 3 drive ins and a 26 ft clear height between the two spaces.

Electrical Capabilities: 400 amp 480 volt 3 phase circuit

Current Tenants

Tenant Business Name Nippon Express USA
Website URL
Is Renting? Yes
SF of Space Occupied 34,163 SF
Current Rent $191,316 PSF (Annual)
Options Two (2) additional periods of five (5) year options
Tenant Notes Nippon Express helps clients reduce costs and create internal efficiencies through our global logistics services, motor freight transport and forwarding, marine transport and freight forwarding, airfreight forwarding and other air cargo transport and forwarding services, household goods moving services, and railway forwarding. Nippon Express empowers firm to diversify their product offering through trade finance and procurement agency service, contract warehousing, facility design and construction, customs clearance, cargo insurance agency, freight packing and our global travel agency service. In addition, Nippon Express’ services include real estate property sales and rental services, security services, employee dispatching services, industrial waste disposal services and other sector services. Clients choose Nippon Express for the best quality service at the lowest prices. Nippon Express has the geographic and sector expertise to help business reach core markets. The firm has cargo centers and logistics service operations across six continents; more than 1400 facilities in Japan plus a global network comprised of 383 subsidiaries and 62 associated companies delivering transport and logistics services. Nippon Express covers abroad range of businesses, such as air and sea transport, warehousing, and moving services, connected across the globe with locations in 37 countries. Nippon Express’ leadership, vision and commitment to customers have made the company a leading provider of global logistics solutions and helping more businesses around the world become supply chain information-driven than any other company.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 20080310
Zoning: I-2
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Sprinklers: Wet

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,622 76,796 158,171
Median Age: 35.32 33.6 35.11
Households: 3,113 29,944 64,123


Photograph of Listing Agent

Campbell Setzer

The Gibson Company
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.