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    2887 Richmond Rd Lexington, KY 40509

    Sponsored
    For Sale
    $6,306,524

    Prime Lexington retail, 100% occupied, strong tenants.

    Property size:
    7,755 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A retail investment opportunity presents a fully leased, three-tenant shopping center totaling 7,755 square feet situated on a one-acre lot in Lexington, Kentucky. The property, built in 2023, boasts a prestigious location on Richmond Road, a high-traffic corridor with nearly 40,000 vehicles per day, offering maximum visibility. Anchored by Panera Bread, Next Level Sports Nutrition, and AT&T, all with corporate guarantees, the center benefits from a 10-year lease term with built-in rent escalations and additional option periods. The property's strategic location between New Circle Road and Man O' War Boulevard places it within a thriving retail and restaurant hub, surrounded by a dense residential population and major employers like Valvoline, Aramark, and International Paper. The center features a prominent pylon sign and benefits from its proximity to Lowe's. This is a rare opportunity to acquire a trophy asset with a 5.25% cap rate and a $6,306,524 asking price, translating to $813.22 per square foot. The property is zoned B-3 and includes a drive-thru for Panera Bread. The Net Lease structure provides a secure and passive income stream. This is a turnkey investment ready for immediate returns. The property is a single-story building with three units.

    Property Features for 2887 Richmond Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    7,755 SF
    Class
    A
    Lot Size
    43,560 SF

    Building Details

    Year Built
    2023
    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • $6,306,524 asking price for a 7,755 SF retail property.
    • Triple‑net (NNN) lease with corporate guarantees from Panera Bread, Next Level Sports Nutrition, and AT&T.
    • 100% occupancy with 10‑year lease terms, including rent escalations and option periods.
    • Prime Lexington, KY location on Richmond Road (40,000 VPD), near New Circle Road and Man O' War Boulevard.
    • Class A, single‑story building constructed in 2023, situated on a 1‑acre lot.
    • 5.25% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Panera Bread Cafe AT&T Store Cell Phone Store Next Level Sports ... Vitamin & Supplements Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4522755
    Latitude
    38.00764288

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Lexington retail, 100% occupied, strong tenants.
    Where is this lifestyle center located?
    The property is located at 2887 Richmond Rd Lexington, KY.
    What is the asking price?
    The asking price for this property is $6,306,524.
    What are key features of this property?
    This property features: $6,306,524 asking price for a 7,755 SF retail property.; Triple-net (NNN) lease with corporate guarantees from Panera Bread, Next Level Sports Nutrition, and AT&T.; 100% occupancy with 10-year lease terms, including rent escalations and option periods.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2887 Richmond Rd Lexington, KY 40509
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