1600 New Cir Rd Lexington, KY 40509-1018
Property Lookup
Property profile & analytics
1600 New Cir Rd Lexington, KY 40509-1018
- Retail space
- 6,895 SF
- 0.51 lot acres
Property ID
US34-0615433
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Advance Auto Parts / Auto Parts Store
- UPS Access Point location / Courier Service / Postal Service
Property Details for 1600 New Cir Rd
- Year built
- 2014
- Lot size
- 0.51 lot acres
- Property size
- 6,895 SF
- Zone code
- B-6P
- Property type
- Retail space
- APN
- 10053310
- APU
- 10053310
Description
This exceptional investment opportunity presents a 6,895 square foot Advance Auto Parts retail building situated on a 0.52-acre lot at 1600 East New Circle Road, Lexington, KY 40509. The property boasts a corporate-guaranteed triple-net (NNN) lease with Advance Auto Parts, a publicly traded company (NYSE: AAP) with an investment-grade credit rating (BBB- from S&P and Baa2 from Moody's) and over $11.3 billion in annual sales (2023). The lease commenced June 30, 2006, and has a remaining term of approximately 4.4 years, expiring April 30, 2029, with three 5-year renewal options, each including a 5% rent increase. The current asking price is $1,683,853, representing a price per square foot of $244.21 and a 7.50% cap rate based on a net operating income (NOI) of $126,289. The property enjoys excellent visibility and accessibility on East New Circle Road, a major thoroughfare with over 23,000 vehicles passing daily. Its proximity to the University of Kentucky (less than five miles) and numerous national retailers, including Home Depot, Lowe's, Kroger, and several fast-food chains, ensures strong commercial synergy and high customer traffic. The property's 100% occupancy and the recession-resistant nature of the automotive parts retail sector make this a compelling investment.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,055,000
- AI Estimate
- $2,043,000
Market price range: $745k - $2.06MMarket price range: $745k - $2.04M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,340,000 Current use
- AUTO REPAIR, GARAGE
- $2,520,000 Change: +88% Conversion: Difficult
- RESTAURANT
- $2,250,000 Change: +68% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,530,000 Change: +14% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $1,525,000 Change: +14% Conversion: Difficult
- MEDICAL BUILDING
- $1,420,000 Change: +6% Conversion: Difficult
- OFFICE BUILDING
- $1,355,000 Change: +1% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.4572
- Latitude
- 38.0175
- CBSA code
- 30460
- CBSA name
- LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$20,160
$0.00
$0.00
$1,630,300
-
$0.00
$0.00
$1,630,300
