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C-store, below replacement cost, NNN 2221 Richmond Rd 987 SF Retail Building Lexington, KY 40502 $2,500,000 ($2,532.93/SF) 4.08% Cap Rate
Investment Highlights
- Gas Station / Convenience Store
- Canopy Size: 3,662 SF
- TC: 20,000 vehicles/day
- 8 Fuel Pumps / 3 Fuel Tanks
- Zoned B1 - Neighborhood
Executive Summary
BP Convenience Store & Gas Station — Fee Simple - For Sale. Equity Management Group is pleased to present the opportunity to acquire a long-term, absolute NNN leased BP-branded gas station and convenience store in one of Lexington's most established and high-traffic retail corridors. Current in-place rent sits below market, giving ownership meaningful upside at lease expiration in 2032. With no renewal options remaining beyond that date, the buyer retains full flexibility to renew at market rate, self-operate the site, or re-tenant/ground lease to an alternative user. Traffic count in front of the site is 39,000 cars daily.
Positioned directly on Richmond Road, the property benefits from over 20,000 vehicles per day of traffic and sits alongside a strong national retail lineup including Chick-fil-A, McDonald's, Walgreens, and Central Bank — a mature, infill trade area with decades of continuous operating history and a loyal, established customer base.
Positioned directly on Richmond Road, the property benefits from over 20,000 vehicles per day of traffic and sits alongside a strong national retail lineup including Chick-fil-A, McDonald's, Walgreens, and Central Bank — a mature, infill trade area with decades of continuous operating history and a loyal, established customer base.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Service Station
Building Size
987 SF
Building Class
C
Year Built
1989
Price
$2,500,000
Price Per SF
$2,532.93
Cap Rate
4.08%
NOI
$102,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.63 AC
Zoning
B-1 - B-1 Zone.
No other fuel center is allowed within 1,000 sf per current zoning.
Parking
8 Spaces (8.11 Spaces per 1,000 SF Leased)
Frontage
152’ on Richmond Rd
Amenities
- Freeway Visibility
- Pylon Sign
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 11645204 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $645,000 |
Property Taxes
Parcel Number
11645204
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$645,000
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