Equipped Restaurant Building in
For Sale
Contact for pricing
3280 Eagle View Ln, Lexington, KY 40509
3,500 SF restaurant with fully equipped kitchen for sale.
Property Size3,500 SF
Price / SF$500
Days on Market148
Property Features for 3280 Eagle View Ln
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Retail
Zoning
B-1
Building Details
Year Built
2000
Buildings
1
Stories
1
Listing Agency:
Tru Life Real Estate
(859) 221-9921
Listed By:
Alexa Kelley · License #KY 215841
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 11 at 4:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tru Life Real Estate
Investment Insights
Based on property information with market context.
Located in a high-traffic retail corridor in Lexington, this 3,500 SF freestanding building offers a fully equipped restaurant space suitable for immediate operation or conversion. The property is strategically positioned off the signalized intersection of Man O’ War Boulevard and Richmond Road, benefiting from high visibility and consistent consumer traffic. Richmond Road sees approximately 180,000 vehicles per day. The efficient layout supports dine-in, takeout, or hybrid models. Strong parking and easy ingress/egress are available. The location is surrounded by dense residential neighborhoods, major retail anchors, offices, and a hospital. Situated within one of Lexington’s fastest-growing commercial corridors, the site is minutes from I-75 and near major employers, healthcare hubs, and national retailers, creating a strong customer base. This restaurant location has a fully equipped kitchen and a history of success.
Key Highlights
- 3,500 SF fully equipped restaurant building ready for immediate operation or conversion.
- High‑visibility location off Man O’ War Boulevard and Richmond Road.
- Exceptional exposure with high traffic count (~180,000 vehicles per day).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,460
$1.0M
Cap Rate 7%
$726,757
$726.8K
Cap Rate 9%
$565,256
$565.3K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.4K $20.40/SF
− Vacancy
−$3.6K −$1.02/SF
EGI
$67.8K $19.38/SF
− OpEx
−$17.0K −$4.85/SF
NOI
$50.9K $14.54/SF
Area
ZIP 40509
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,017,460
Cap Rate 7%
$726,757
Cap Rate 9%
$565,256
Alternative Uses
Best Use
Specialty Retail
$726.8K
$635.9K – $847.9K
NOI $50,873 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$729.2K
$638.1K – $850.8K
NOI $51,045 @ 7.0% cap · market cap 2.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,128
Businesses Nearby
382k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 33%
Groceries 22%
Home Improvements & Furnishings 1%
Kroger
Groceries
71,205 visits/mo
0.2 miles
Texas Roadhouse
Dining
44,641 visits/mo
0.2 miles
Gabe's
Shops & Services
28,049 visits/mo
0.3 miles
Wendy's
Dining
24,492 visits/mo
0.4 miles
Circle K
Shops & Services
21,276 visits/mo
0.5 miles
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 3,500 SF restaurant with fully equipped kitchen for sale.
Where is this conventional restaurant located?
The property is located at 3280 Eagle View Ln Lexington, KY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 3,500 SF fully equipped restaurant building ready for immediate operation or conversion.; High‑visibility location off Man O’ War Boulevard and Richmond Road.; Exceptional exposure with high traffic count (~180,000 vehicles per day).
