Catylist ID: #30270860
1719 N. Broadway
Retail-Commercial for Sale
|Catylist Listing ID:||30270860|
|Property Subtypes:||Street Retail|
|Building Size (RSF):||9,000 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||0.76 Acres|
|Unit Price:||$121.67 PSF|
|Property Use Type:||Investment|
|Average Occupancy Rate:||90|
Overview / Comments
Stable Retail investment Opportunity – 1719 North Broadway is conveniently located between New Circle Rd. (Highway 4) and Interstate 75/64 in Lexington, KY. This highly visible site boasts tremendous traffic counts. The property is currently 87% occupied, and has maintained stable occupancy since purchased in 2006. The property also holds value add potential with an average rental rate below current market rates, and all current leases include renewal options with rent escalations. The convenient location and ample parking make this site attractive to a number of potential future tenants.
-Retail Investment Property Located on the highly traveled North Broadway/Paris Pike.
-Very High Daily Traffic Counts. (26,600 ADTC)
-Multiple National Tenants
-Conveniently located between New Circle Rd. and I-75/64.
-Historical Occupancy at or above 90%.
-All current leases have renewal options with rent escalations.
-Value Add Potential – Average Rental Rate of $11.22/SF (Modified Gross) – below market average.
Attachments & Media
|Area Description:||Ideally located on North Broadway, between New Circle Rd. (Hwy 4) and I-75/64 in Lexington, KY. Less than 3 miles from Downtown Lexington and less than 1 mile from I-75/64 interchange.|
|Zoning Description:||Highway Service Business|
|Proximity:||1 mile||3 miles||5 miles|
Clay AngelucciBlock & Lot Real Estate KCREA Member
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