1648 Berea Road, Richmond, KY 40475 (MLS# 23008108)

1648 Berea Road, Richmond, KY 40475

$1,300,000

Property Type: Commercial Sale Lot Size (sq. ft.): 169,448 Status: Closed

Current Price: $1,300,000 List Date: 5/05/2023 Last Modified: 9/04/2025

Overview

Description

Amazing opportunity to immediately generate income with storage units and build your business on vacant land. Located in a heavily traveled 4 way intersection. 4 parcels will be sold together. 1648 Berea Rd (Parcel 0070-0000-0058-C1). 1650 Berea Rd( Parcel 0070-0000-0048). 1646 Quality Dr (Parcel 0070-0000-0058-CC) . Currently there are 3 storage buildings that total 42 units plus a small office. 128 Quality Dr (Parcel 0070-0000-0058-D). Vacant land but is currently being leased to individuals to park cars, trucks and equipment. Property lines on pictures and video are approximate and buyers should satisfy themselves.

Listing Details MLS# 23008108

Listing Information

Comp Sale YN: No
Property Sub Type: Business

Status Change Information

Status Change Timestamp: 2024-09-10
Purchase Contract Date: 2024-06-12
Close Date: 2024-09-10
Close Price: 1300000
Buyer Financing: Conventional
Sale Type: Arms Length Sale

Address

County: Madison
Street Number: 1648
Street Name: Berea
Street Suffix: Road
State: KY
Zip Code: 40475
Parcel Number: 0070-0000-0058-C1

Contract

Original List Price: 1500000
Start Showing Date: 2023-05-05
Listing Contract Date: 2023-05-05
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant
Office Exclusive YN: No
SP/LP: 0.87

Tax Legal

MLS Area Major: 008 - Madison County
Subdivision Name: Rural

Parking Information

Parking Total: 56

More Information

Building

Year Built: 9999
Stories Total: Yes

Lot

Lot Size Acres: 3.89
Lot Size Square Feet: 169448
Road Frontage Feet: 755

Remarks

Public Remarks: Amazing opportunity to immediately generate income with storage units and build your business on vacant land. Located in a heavily traveled 4 way intersection. 4 parcels will be sold together. 1648 Berea Rd (Parcel 0070-0000-0058-C1). 1650 Berea Rd( Parcel 0070-0000-0048). 1646 Quality Dr (Parcel 0070-0000-0058-CC) . Currently there are 3 storage buildings that total 42 units plus a small office. 128 Quality Dr (Parcel 0070-0000-0058-D). Vacant land but is currently being leased to individuals to park cars, trucks and equipment. Property lines on pictures and video are approximate and buyers should satisfy themselves.

Building and Property Details

Inground Tank YN: No
Railroad Siding YN: No
# of Floors Serviced: Yes
Maximum Ceiling Height: 8
Warehouse SqFt: 6400
Electricity Location: 2 meters security light poles, 1 bldg

Income and Expenses

Electric Expense: 3036
Gross Scheduled Income: 60000
Insurance Expense: 5500
Real Estate Taxes: 1994
Total Actual Rent: 60000

Tax & Legal

Tax Rate: 0.0097
Zoning Description: UC4, UC7
Directions: From I-75 South take Exit 83(Duncannon at Buccees)Going towards Berea on 25 from Richmond, approx. 1 mile from Kroger Intersection. Properties are on the right side of road.

Association/Community

Number Of Buildings: 3

Utilities

Electricity Connected: Yes
Water Available: Yes

Construction Materials

Aluminum Siding: Yes
Block: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Gravel: Yes
On Site: Yes
Paved: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Roof

Metal: Yes

Sewer

Septic Tank: Yes

Special Listing Conditions

Standard: Yes

Building Features

Concrete Floor: Yes

Business Type

Commercial: Yes
Industrial: Yes
Warehouse: Yes

Docks

None: Yes

Existing Lease Type

Gross: Yes

Sale Includes

Building(s): Yes
Business: Yes
Land: Yes
Leases: Yes

Tenant Pays

None: Yes

Documents

Appraisal: Yes
Environmental Impact: Yes
Survey: Yes

Property Features

Utilities: Electricity Connected; Water Available; Electricity Connected; Water Available Building Features: Concrete Floor Business Type: Commercial; Industrial; Warehouse Construction Materials: Aluminum Siding; Block Docks: None Existing Lease Type: Gross Listing Terms: Cash; Conventional Parking Features: Gravel; On Site; Paved Possession: Close Of Escrow; Subject To Tenant Rights Roof: Metal Sale Includes: Building(s); Business; Land; Leases Sewer: Septic Tank Special Listing Conditions: Standard Tenant Pays: None Documents: Appraisal; Environmental Impact; Survey

Listing Office: Keller Williams Legacy Group

Last Updated: September - 04 - 2025

Information deemed reliable but not guaranteed.