Small Industrial Properties FOR Sale - Richmond

Industrial for Sale
Catylist Listing ID: 30860872
Property Subtypes: Warehouse/Distribution
Building Size (RSF): 19,300 SF
Gross Building Area: See Agent
Sale Price: $1,550,000
Unit Price: $80.31 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/20/2024

Overview / Comments

We are pleased to bring to market, 651 & 661 S Keeneland Drive, 2 properties totaling 19,300 SF industrial property on 2 acres in Richmond, KY. These fully occupied assets are 8,100 sf and 11,200 sf with a moving company in the 11,200 sf building with 7 years remaining in term and options, and a Crossfit gym under lease until Fall of 2025 in the 8,100 sf building. The sellers built the properties in the late 1980's and have occupied or rented the assets since.

Highlights:
Two Small Industrial buildings 100% occupied
Short term on 8100 sf building
Longer term on 11200 sf building
I-2 Zoning

Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Tax ID/APN: 054B-0007-0002
Zoning: I-2
Area Description: Richmond is centrally located and is south of Lexington on the I-75 corridor. Richmond is one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. Richmond tied for the 30th in the Top Micropolitans in the nation for new and expanded industry activity in 2010. The City of Richmond is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students. Historic downtown Richmond is one of the finest 19th century commercial districts in the Southeast and is a unique blend of small town warmth and friendliness while still having access to the advantages of a big city.
Total Number of Buildings: 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,269 33,488 40,950
Median Age: 31.08 31.97 32.66
Households: 1,916 13,082 16,066
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