Development Lot with Existing Income

2196 Thunderstick Dr Lexington, KY 40505

2196 Thunderstick Dr, Lexington, KY, 40505
2196 Thunderstick Dr, Lexington, KY, 40505
FOR SALE
Property Type:
Commercial Land Development
Amount:
$700,000
Last Verified:
Jan 12, 2021

Highlights

  • 1.84 Acre Development Lot For Sale with Potential for Contiguous 3.1 Acre Lot
  • Zoned Professional Office (P-1)
  • Opportunity Includes In-Place Income from a Lifelong Lease with AT&T
  • ALTA Survey, Phase 1 ESA, and Multiple Site Plans Available
  • Easy Access to I-75/I-64, New Circle Rd, Man O' War Blvd and Winchester Rd
  • An Abundance of Nearby Amenities, Including Hamburg Pavilion, Lowes, Walmart and Starbucks

Description

SVN Stone Commercial Real Estate is pleased to present a 1.84 acre development lot for sale that could be combined to make a larger 3.1 acre tract. The lot comes with existing income as AT&T has exercised an option to lease a 50 ft x 50 ft section in the back corner of the lot to construct a cell tower. The owner has an ALTA survey, Phase 1 ESA, and site plans that show the location of the cell tower and multiple building designs. Zoned Professional Office (P-1), the site is primed for development for a user that desires to be located near I-75/I-64 and Hamburg Pavilion. An adjacent 1.26 acre parcel for sale by a separate owner can also be purchased, creating a contiguous 3.1 acre parcel. Principal uses include, but are not limited to professional offices, medical facilities, R&D labs, data processing centers, daycares and athletic clubs. The site allows for easy access to Georgetown, Richmond and Winchester via I-75/1-64, New Circle Rd and Man O' War Blvd. The lot is located near an abundance of amenities including Hamburg Pavilion, Hobby Lobby, Lowes and Walmart with additional retail development planned nearby.

For more information, please contact Wade Haga at wade.haga@svn.com / 859.285.2202.

The subject property is located near Hamburg Pavilion, one of Central Kentucky's premier shopping destinations, which boasts an abundance of local, regional and national retailers including Costco, Walmart, Lowes, Hobby Lobby, Target, Chick-fil-A, Starbucks, Malone's Steakhouse and Saul Good Restaurant and Pub. Further nearby amenities include easy access to I-75/I-64, New Circle Road, and Man-O-War Boulevard, many banks, professional office users, as well as Lexington's newest Whitaker Family YMCA location.

Lot Size: 1.84 acres

Map of 2196 Thunderstick Dr, Lexington, KY, 40505

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.