Listing provided courtesy of Block + Lot Real Estate- MLS# 24001239
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- SITE AERIAL
- SITE AERIAL WITH LABELS
1951 N BroadwayLexington, KY 40505
Commercial · 2,600 Sq. ft. | 1.30 Acres$1,170,000
Active
1951 N Broadway Overview
- Time on Site:
- 951 days
- Visits:
- 18
We are excited to offer 1.3 acres of flat, retail land off of N. Broadway for sale. The property is conveniently located just off Interstates 75/64 and only 0.8 miles from Downtown Lexington, and is conducive to redevelopment or to be used as is. The 2,600 SF former restaurant is currently leased until September 31, 2028 on a NNN lease to a home delivery meal service (Tenant pays property insurance and common area maintenance, and 60% of the property tax bill), and the back portion of the property to a food truck which is on a month-to-month agreement. The total income is $55,200/year with increases each year. Landlord is only responsible for roof and structure, 40% of the property tax bill, and maintaining the parking lot area leased to food trucks. The existing restaurant features many recent improvements and is in excellent condition, fully equipped. This would be a great opportunity for a future owner occupant or developer looking to enjoy income until taking over, or a buyer looking for future value add potential through the current tenancies. Immediately surrounding the site is a Shell gas station, Marathon gas station, and Days Inn and Suites.
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1951 N Broadway Facts & Features
- Type Commercial
- Sq. ft. 2,600
- Price/Sq.ft. $450
- Lot 1.30 Acres
Details
General
Building Information
- Year Built: 1968
Business Information
- Business Type: Restaurant,Retail
Location/Region
- County Or Parish: Fayette
- MLS Area Major: 001 - Fayette County NW
- MLS Area Minor: 001 - Fayette County NW
- Subdivision Name: Commercial
General Information
- Parcel Number: 13895950
- Property Sub Type: Retail
- Property Type: Commercial Sale
- Special Listing Conditions: Standard
Interior
Beds/Baths
- Bathrooms Total: 0
Building Interior
- Building Area Total: 2600.0
General Information
- Living Area: 2600.0
Exterior
Lot Information
- Lot Size Acres: 1.3
- Lot Size Area: 1.3
- Lot Size Square Feet: 56628.0
- Lot Size Units: Acres
- Number Of Buildings: 1
1951 N Broadway Neighborhood
Community
40505 (Lexington) Demographics
40
Median Age
3,304
Population Density (per sq. mile)
28%
College Educated
$43,305
Estimated Median Income
6,414
Estimated Total Home Owners
4,414
Estimated Total Renters
59% / 41%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data unavailable, School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.1951 N Broadway Monthly Cost
1951 N Broadway Market Data
Based on the last 30 days in this zip code
$302,287
Average List Price
$193
Average Price per Square Foot
24
Properties Sold
52
Average Days on Market
61
Properties for Sale
1951 N Broadway History
| Date | Value | Agent |
|---|---|---|
| 8/12/2025Source: Imagine MLS/Bluegrass | August 12, 2025 |
|
| 8/12/2025Source: Imagine MLS/Bluegrass | August 12, 2025 |
|
| 8/12/2025Source: Imagine MLS/Bluegrass | August 12, 2025 |