201 Kings Way, London, KY 40741 (MLS# 1912756)

201 Kings Way, London, KY 40741

$1,000,000

Property Type: Commercial Sale Lot Size (sq. ft.): 21,780 Status: Closed

Current Price: $1,000,000 List Date: 6/05/2019 Last Modified: 9/03/2025

Overview

Description

Great investment opportunity without all the hassle of the day to day issues. This property has a triple net lease for $7,000/mo. through 10/31/20 (7.3 cap) and $5,000 mo from 11/01/20 -6/30/22 (5.2 cap). Lessee pays all taxes, maintenance and insurance. Building and lot for sale. Very established restaurant. This is a free standing retail building with a private parking lot, located among several restaurants, stores and Walmart. Property has excellent exposure on major highway and just off of I-75.

Listing Details MLS# 1912756

Status Change Information

Price Change Timestamp: 2019-06-20T15:40:20Z
Status Change Timestamp: 2021-12-11
Purchase Contract Date: 2021-06-15
Close Date: 2021-08-31
Close Price: 1000000

Address

County: Laurel
Street Number: 201
Street Name: Kings
Street Suffix: Way
State: KY
Zip Code: 40741

Contract

Original List Price: 1150
Start Showing Date: 2019-06-04
Listing Contract Date: 2019-06-04
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant
Office Exclusive YN: No
SP/LP: 0.87

Tax Legal

MLS Area Major: 044 - Laurel County
Subdivision Name: Commercial

Parking Information

Parking Total: 20

Building

Year Built: 2002
Stories Total: Yes

More Information

Lot

Lot Size Acres: 0.5
Lot Size Square Feet: 21780.02

Remarks

Public Remarks: Great investment opportunity without all the hassle of the day to day issues. This property has a triple net lease for $7,000/mo. through 10/31/20 (7.3 cap) and $5,000 mo from 11/01/20 -6/30/22 (5.2 cap). Lessee pays all taxes, maintenance and insurance. Building and lot for sale. Very established restaurant. This is a free standing retail building with a private parking lot, located among several restaurants, stores and Walmart. Property has excellent exposure on major highway and just off of I-75.

Building and Property Details

Lot Expansion Potential YN: Yes
# of Men's Restrooms: Yes
# of Women's Restrooms: Yes

Showing Information

Showing Instructions: Call listing agent 606-224-4343

Tax & Legal

Tax Rate: 9.19
Zoning Description: Commercial
Directions: From I-75 South, get off exit 38, turn left onto Hwy 192. Look for property on left past Microtel Motel in Walmart shopping center.

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Construction Materials

Brick: Yes

Possession

Close Of Escrow: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Business Type

Restaurant: Yes

Sale Includes

Building(s): Yes
Land: Yes

Tenant Pays

Common Area Maintenance: Yes
Electricity: Yes
Exterior Maintenance: Yes
Gas: Yes
Insurance: Yes
Interior Maintenance: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Property Features

Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Business Type: Restaurant Construction Materials: Brick Possession: Close Of Escrow Sale Includes: Building(s); Land Sewer: Public Sewer Special Listing Conditions: Standard Tenant Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Gas; Insurance; Interior Maintenance; Sewer; Taxes; Trash Collection; Water

Listing Office: Kentucky Wide Realty

Last Updated: September - 03 - 2025

Information deemed reliable but not guaranteed.