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Main Street Auto 1031 Contract St 6,569 SF Industrial Building Lexington, KY 40505 $3,222,280 ($490.53/SF) 6.75% Cap Rate
Investment Highlights
- Strong Corporate Guarantee
- Affluent Community
- Close Proximity to the University of Kentucky
- New Long-Term Triple-Net (NNN) Lease
Executive Summary
Surmount and Bang Realty is pleased to present the exclusive listing for a Main Street Auto located at 1031 Contract Street, Lexington, KY 40505. The site consists of roughly 6,569 rentable square feet of building space on an estimated .84-acre parcel of land. Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $217,504 and has scheduled increases of 2.00% annually starting 3/1/2031.
Property Facts
| Price | $3,222,280 | Lot Size | 0.84 AC |
| Price Per SF | $490.53 | Rentable Building Area | 6,569 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 6.75% | Year Built | 2000 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Service | No. Drive In / Grade-Level Doors | 6 |
| Building Class | B | ||
| Zoning | I-1 | ||
| Price | $3,222,280 |
| Price Per SF | $490.53 |
| Sale Type | Investment NNN |
| Cap Rate | 6.75% |
| Property Type | Industrial |
| Property Subtype | Service |
| Building Class | B |
| Lot Size | 0.84 AC |
| Rentable Building Area | 6,569 SF |
| No. Stories | 1 |
| Year Built | 2000 |
| Tenancy | Single |
| No. Drive In / Grade-Level Doors | 6 |
| Zoning | I-1 |
Amenities
- Signage
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 38015960 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,200,000 |
Property Taxes
Parcel Number
38015960
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,200,000
Contacts
-
Edward Otocka -
Francis Purritano -
Joseph Kelly -
Glen Kunofsky -
Christopher Marks -
Surmount
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Main Street Auto | 1031 Contract St
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