Property profile

319 Cedar St Lexington, KY 40508

OFF-MARKET
Turn key restaurants
Property ID
US34-2265311
6,192 SF 0.23 ac lot Built 2012
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Class A, 8,700 square foot, four-story brick building offers a reimagined retail and restaurant leasing opportunity in the heart of downtown Lexington, Kentucky. Located steps from Rupp Arena and the University of Kentucky campus, this highly visible corner location on South Broadway and Cedar Street boasts approximately 26,000 vehicles passing daily and significant foot traffic. The available space totals approximately 4,200 square feet of first-floor retail/restaurant space, divisible into units as small as 2,100 square feet, with a maximum contiguous space of 4,200 square feet. A fully equipped kitchen is located in the basement, and patio space may be available. The building, constructed in 2012, includes an elevator, sprinkler system, and dumbwaiter. A modified gross lease structure is offered, with tenants responsible for a percentage of utilities, maintenance, and common area expenses. Ample parking is available after 6 pm for restaurant or bar use, due to weekday professional office space hours ending at 4:30 pm. Rent abatement may be available for qualified tenants. The building is zoned B-2A and is situated in Fayette County. This property presents a unique opportunity for businesses seeking a high-profile location with excellent visibility and modern amenities.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2012
Total area 6,192 SF
Lot 0.23 ac (10,019 SF)
Zoning code B-2A
APN 14787600
UPID US34-2265311

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bar & Pub

Location

319 Cedar St Lexington, KY 40508-2947
Lexington metro Census 900 LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.29M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.72M
Blend (final) Blend
$1.29M

Owner & transaction history

since 2024
Last sale
$1.3M
5 recorded transactions
2024
$1.3M
2021
Price N/A
2020
$1.1M
2012
$350,000
2009
$933,334

Zoning & alternative use

B-2A · Lexington, KY
Zoning description

(c) In the Downtown Business Frame (B-2A) zone, where at least fifty (50%) percent of dwelling units of a lot are being provided at an affordable level, developments shall be granted an affordable housing bonus in use, s…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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