Listed by SURMOUNT
$3,222,280
Main Street Auto
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 6,569
Cap Rate 6.75%
NOI $217,504
Tenancy Single
Lease Type NNN
Lease Expiration 02/28/2045
Year Built 2000
Acreage 0.840
Tenant Credit Corporate Guarantee
Lease Commencement 02/20/2025
Ground Lease No
About This Property
Marketing description
Surmount and Bang Realty is pleased to present the exclusive listing for a Main Street Auto located at 1031 Contract Street, Lexington, KY 40505. The site consists of roughly 6,569 rentable square feet of building space on an estimated .84-acre parcel of land. Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 2/20/2025. The current annual rent is $217,504 and has scheduled increases of 2.00% annually starting 3/1/2031.
Investment highlights
- Strong Corporate Guarantee | The lease features a corporate guarantee from Main Street Auto. Main Street Auto is a rapidly growing operator of automotive repair shops in the southeast and beyond. They currently operate ~150 locations. The corporate guarantee on this lease is backed by ~110 of these locations.
- Close Proximity to the University of Kentucky | The subject investment property benefits from being located less than three miles from the University of Kentucky, which has over 38,000 students enrolled.
- Affluent Community | This Main Street Auto property benefits from being located in an affluent community where the average household income within a five-mile radius exceeds $84,200.
- New Long-Term Triple-Net (NNN) Lease | This site is subject to an absolute triple-net (NNN) lease which commenced on 2/20/2025 and has over 18+ years of term remaining. The lease features 2.00% annual rental increases starting year 3/1/2031 and has no landlord responsibilities.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$217,504.00
$18,125.33/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
Map
Zoning
I-1 IndustrialLight IndustrialLight Industrial
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View all 146 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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