Overview

Description

SVN Stone Commercial Real Estate is pleased to present prime retail space for lease just off busy Nicholasville Road in the heart of one of Lexington’s busiest retail corridors. With the marquee visible from Nicholasville Road, businesses that call 145 Burt Road home benefit from 40,235 passing vehicles per day. Tucked close to a Kroger-anchored shopping center and with neighbors like Panera Bread, Burger King, Traditional Bank, and Jeff’s Car Wash, 145 Burt Road allows retailers to be seen and serve their clients and customers from the center of Lexington’s busiest retail corridor.

For more information, please contact Harrison Lane at 859.436.2835 // harrison.lane@svn.com or Nathan Dilly at 859.420.5492 // nathan.dilly@svn.com

Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential.

Highlights

• 100% occupied retail/office investment property presented at a 7.5% cap rate on in—place income.
• 1.3 acres; zoned B—1.
• Busy Nicholasville Rd is a major Lexington retail thoroughfare.
• Diverse mix of tenant businesses, with national (Kumon Learning, Wellnessmart), and strong local businesses (Gluten Free Miracles)
• Units are used primarily for service businesses, offices, and retail establishments.
• All rents collected in 2020!
• Property includes 20 total units. Small unit size, proximity to Nicholasville Rd, and price point attract local service businesses to a convenient location. Property will never struggle when it comes to leasing.
• 16 units have been completely renovated in 2020, with current owner spending $250,000+ on Capital Expenditures to attract tenants and stabilize property.
• Upgraded units received new HVAC units, new electric, LED lights, stylish glass doors, new LVT flooring, bathroom fixtures, and general maintenance items taken care of.
• Current owner has done the heavy lifting, leaving future increases to the next owner.
• Property has a new roof as of 2018 with a 10 year transferable warranty to be shared in Due Diligence.

3 Spaces Available

Documents

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