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For Sale: NNN 10 Yr Tenant with Drive Thru 638 Chestnut St 2,521 SF Retail Building Berea, KY 40403 $1,279,000 ($507.34/SF) 5.72% Cap Rate
Investment Highlights
- Tenant occupied 2,521 SF Drive Thru - Fast Casual FOR SALE
- Increases in Rent every 2 years, and (2) 6 YEAR OPTIONS TO RENEW
- Less than 1/4 mile to Exit 76 in Berea - NEAR Walmart, Cracker Barrel, McDonalds, Starbucks, Popeyes, and more
- NEW 10 year NNN Lease just started in Summer of 2025 (Landlord only responsible for Roof and Structure)
- Tenant has multiple locations across the region in Kentucky including Berea, London, Frankfort, Somerset, Ashland, and Mount Sterling
Executive Summary
SVN Stone is pleased to bring to market this property for an INVESTOR in Berea, KY at a signaled intersection with a Drive Thru that is occupied by a Regional, Fast casual. The group just began a 10 year NNN lease at this location in Summer of 2025! The tenant remodeled the former Gold Star Chili franchised space, in Summer of 2025, and began paying rent in the Fall of 2025 to start the initial term. The group has increases in rent every two years, and has two (6 year options). The group has several Central KY locations, and offers asian cuisine. The space is less than a 1/4 mile from exit 76 off I-75, with retailers like Walmart, Cracker Barrel, Popeye's Chicken, McDonalds, Starbucks and more! Contact Neal Metcalfe, Senior Advisor 859-312-8069, neal.metcalfe@svn.com or Matt Stone, Managing Director, CCIM, SIOR, MBA 859-351-5444, matt.stone@svn.com for more information.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,521 SF
Building Class
B
Year Built/Renovated
2022/2025
Price
$1,279,000
Price Per SF
$507.34
Cap Rate
5.72%
NOI
$73,159
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.69 AC
Zoning
Retail
Parking
20 Spaces (7.93 Spaces per 1,000 SF Leased)
Frontage
114’ on Chestnut St
Nearby Major Retailers
Property Taxes
| Parcel Number | B001-0009-0013 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $856,250 |
Property Taxes
Parcel Number
B001-0009-0013
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$856,250
Contacts
-
Neal Metcalfe -
Matt Stone, CCIM, SIOR, MBA -
SVN | Stone Commercial Real Estate
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For Sale: NNN 10 Yr Tenant with Drive Thru | 638 Chestnut St
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