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Applebee's 1761 Sharkey Way 3,916 SF Retail Building Lexington, KY 40511 $2,750,000 ($702.25/SF) 6% Cap Rate
Investment Highlights
- Absolute Net Lease Structure – Tenant is responsible for taxes, insurance, CAM, roof, and structure, providing truly passive ownership
- Recently Extended Lease Demonstrates Tenant Commitment – Applebee’s recently extended its lease at the property
- Strong Surrounding Demographics – More than 170,760 people reside within five miles of the property
- Established National Restaurant Tenant – Long-standing Applebee’s location operated by RMH under Sun Holdings
- Significant Tenant-Funded Renovations – Tenant is investing approximately $100,000 into renovations and improvements at the property
- Excellent Access and Visibility – The property benefits from immediate access to New Circle Road (KY-4), which carries approximately 76,000 vehicles
Executive Summary
Absolute Net Lease Structure – Tenant is responsible for taxes, insurance, CAM, roof, and structure, providing truly passive ownership with zero landlord responsibilities
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,916 SF
Building Class
B
Year Built
2004
Price
$2,750,000
Price Per SF
$702.25
Cap Rate
6%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.33 AC
Zoning
B-1
Parking
45 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
212’ on Sharkey Way
Amenities
- Bus Line
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 38126560 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,750,000 |
Property Taxes
Parcel Number
38126560
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,750,000
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