Happy Dragon

Retail-Commercial for Sale
Catylist Listing ID: 30528777
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 7,000 SF
Gross Building Area: 8,500 SF
Gross Land Area: 11,326 SF
Sale Price: $999,000
Unit Price: $142.71 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/2/2023

Overview / Comments

50,000 + Cars per day traffic count on Newtown Pike.

Hotels in the area include: Marriott Griffin Gate Resort - Fairfield Inn Suites - Four Points by Sheraton Hotel - Clarion Hotel - La Quinta Inn- Embassy Suites.
This property has excellent visibility and exposure located on Newtown Pike along with ample parking for patrons.

The restaurant is adjacent to the Marriott' s Griffin Gate Resort and directly across Newtown Pike from the University of Kentucky professional office and research park, the Coldstream Research Campus.

The owner will service a large daytime business population, as well as an upscale residential community. The property has convenient access to Interstates 75 / 64.

This property was had two appraisals done, one for $1,700,000 and one for $1,600,000 in 2014.

The owners are ready to retire and are offering the property at $1,049,000.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 20081450
Zoning: B-1
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Newtown Pike
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1989
Year Renovated: 1992
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 100
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Part of Planned Development?: Yes
Lot Frontage: 112'
Lot Depth: 116'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,287 69,480 145,958
Median Age: 32.46 35.17 34.37
Households: 3,549 28,689 58,859
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