1951 N Broadway Lexington, KY 40505

This property features 1.3 acres of flat, retail land located off N. Broadway, conveniently situated near Interstates 75/64 and approximately 0.8 miles from Downtown Lexington. The site includes a 2,600 SF former restaurant, currently leased until September 31, 2028, on a NNN lease to a home delivery meal service. The tenant covers property insurance, common area maintenance, and 60% of the property tax bill. Additionally, the back portion of the property is leased to a food truck on a month-to-month agreement. The total annual income is $55,200, with annual increases. The landlord is responsible for the roof and structure, 40% of the property tax bill, and maintaining the parking lot area leased to food trucks. The existing restaurant is fully equipped, in excellent condition, and features many recent improvements. The property is zoned B-5P (Interchange Business), making it suitable for various retail uses, including restaurants, convenience stores, hospitality, and gas/automotive service stations. The location benefits from approximately 26,600 average cars per day on N. Broadway. Immediately surrounding the site are a Shell gas station, a Marathon gas station, and a Days Inn and Suites. The former Transylvania University Baseball fields were recently purchased and, upon approval, will be transformed into an affordable housing development featuring homes, apartments, and possibly townhomes on the 12.5-acre property. This property presents an opportunity for a future owner-occupant or developer seeking income until taking over, or a buyer looking for future value-add potential through the current tenancies.