Catylist ID:
#30528777
| 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 |
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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