1525 W Lexington Ave | Winchester, KY 40391
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1525 W Lexington Ave
Winchester, KY 40391
Applebee's · Retail Property For Sale
Investment Highlights
- Location – less than half a mile I-64 exit 94; all “right-turns” to access Applebee’s property from exit 94.
- Oversized Parcel at 2.25 acres in combination with location provides long-term security for re-tenant or re-development at end of lease.
- Area primed for further growth, 17 mile drive to downtown Lexington and short 15 minute drive to eastern suburbs.
- Signalized Intersection with subject site directly across the street from McDonald’s and next door to free standing Starbucks, Cook Out and Wendy’s.
- High Performing location, low rent to sales ratio increasing probability of renewals – contact broker for sales information.
- Surrounded by national and regional retailers to include McDonald’s, Starbucks, Wendy’s, Cookout, Subway, Burger King, TJ Maxx, Five Below, and more.
Executive Summary
Absolute NNN Lease with zero landlord responsibilities providing passive income and ideal 1031 exchange investment property. Lease Corporate Guaranteed by Sun Holdings (Apple Sun) with 132 Applebee’s locations nationally and over 1,500 total restaurant and retail locations across multiple brands. ±8.5 years of guaranteed lease term and triple net cash flow with 10% rent increases every 5 years and in each of the 4 x 5 year option periods. Low rent well below Applebee’s average rent, increasing probability of renewals
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,498 SF
Building Class
C
Year Built
2003
Price
£1,343,900
Price Per SF
£244
Net Initial Yield
6.75%
NOI
£90,713
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
2.25 AC
Zoning
B-3 - General Business District
Frontage
128 ft on Lexington Rd
PROPERTY TAXES
| Parcel Number | 042-0000-03002 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,137,508 |
PROPERTY TAXES
Parcel Number
042-0000-03002
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,137,508
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