Absolute Net Leased Investment

Retail-Commercial for Sale
Catylist Listing ID: 30274125
Property Subtypes: Restaurant
Building Size (RSF): 5,498 SF
Gross Building Area: See Agent
Gross Land Area: 2.25 Acres
Sale Price: $1,650,000
Unit Price: $300.11 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Absolute Net Leased Investment
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 8/13/2018

Overview / Comments

Absolute NET leased single tenant retail investment opportunity for an Applebee's Restaurant Property in Winchester, Kentucky. The tenant is the second largest Applebee's franchisee with +/-163 locations in 15 states. The building has +/-5,498 SF on +/-2.2538 acres. Long-term lease (15+ years) with increases throughout November 2033. The property is situated adjacent to Winchester Plaza Shopping Center with an entertainment venue, national retailers. The property is located near Clark Regional Medical Center, a 79 bed, community hospital serving central Kentucky with over 75 physicians, 487 employees and 75 volunteers on staff and a new Holiday Inn Express under Construction.

Attachments & Media

Additional Details

Nearest MSA: Lexington-Fayette
County: Clark
Zoning: COMMERCIAL
Property Visibility: Good
Largest Nearby Street: I-64
Traffic/Vehicle Count: 25,913
Area Description: Located on West Lexington Avenue near the intersection of Bypass Road and I-64 at Exit 94. Winchester is located 18 miles east of Lexington in Clark County, Kentucky. Winchester is part of the Lexington Metropolitan Statistical Area and functions as a rural/suburban submarket. The population of Clark County is 35,819 ('16) with 18,461 ('16) of those living in the City of Winchester.
Tenancy: Single Tenant

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,815 20,877 29,110
Median Age: 34.66 39.47 39.29
Households: 1,624 8,562 11,741

Contact

Photograph of Listing Agent

Bruce R Isaac

NAI Isaac KCREA Member
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