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Auto Parts

Rim Tyme- Lexington

361 E New Circle Rd, Lexington, KY 40505

Listing Price: $1,290,343

Tenant Name
Rim Tyme
Years Remaining On Lease
9.5
Guarantor
No Guarantee
Rentable SF
5,840
Lease Type
Double Net
Rent Per Square Feet
$15.62

Investment Overview

Marcus & Millichap is pleased to present RimTyme Custom Wheels and Tires, a 5,840 square foot free standing retail property in northeast Lexington Kentucky which is known as the horse capital of the world. This single tenant offering is under a new 10 Year Double Net (NN) lease with two five year renewal options and 10% rent increases every five years. RimTyme is one of the fastest growing custom wheel and tire franchises in the United States and part of the world's largest rent-to-own company, Rent-A-Center. The property is located in Fayette County just 3 miles northeast of downtown Lexington and Rupp Arena and a short 8.5 mile drive from Blue Grass Airport (LEX). Situated on an outparcel to Kroger on a primary retail corridor, RimTyme of Lexington has excellent visibility to 30,000 vehicles per day. The area reflects strong demographics with a 5-Mile population of almost 185,000 and average annual household incomes just under $75,000. The local area has experienced total population growth of 20% since 2000. Commercial property fundamentals are sound with CoStar reporting vacancy of only 1.6% for retail properties in a 1-Mile radius and market rents of $18.55/SF in a 5-Mile radius of the property.

Investment Highlights

  • 10-Year NN Lease with Minimal Landlord Responsibilities
  • 10% Rent Increases Every 5 Years and Two 5-Year Renewal Options
  • Outparcel to Kroger on Retail Corridor with 30,000 AADT

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Financing By

Auto Parts

Rim Tyme- Lexington

Listing Price: $1,290,343

Tenant Name
Rim Tyme
Years Remaining On Lease
9.5
Guarantor
No Guarantee
Rentable SF
5,840
Lease Type
Double Net
Rent Per Square Feet
$15.62

Investment Highlights

  • 10-Year NN Lease with Minimal Landlord Responsibilities
  • 10% Rent Increases Every 5 Years and Two 5-Year Renewal Options
  • Outparcel to Kroger on Retail Corridor with 30,000 AADT

Investment Overview

Marcus & Millichap is pleased to present RimTyme Custom Wheels and Tires, a 5,840 square foot free standing retail property in northeast Lexington Kentucky which is known as the horse capital of the world. This single tenant offering is under a new 10 Year Double Net (NN) lease with two five year renewal options and 10% rent increases every five years. RimTyme is one of the fastest growing custom wheel and tire franchises in the United States and part of the world's largest rent-to-own company, Rent-A-Center. The property is located in Fayette County just 3 miles northeast of downtown Lexington and Rupp Arena and a short 8.5 mile drive from Blue Grass Airport (LEX). Situated on an outparcel to Kroger on a primary retail corridor, RimTyme of Lexington has excellent visibility to 30,000 vehicles per day. The area reflects strong demographics with a 5-Mile population of almost 185,000 and average annual household incomes just under $75,000. The local area has experienced total population growth of 20% since 2000. Commercial property fundamentals are sound with CoStar reporting vacancy of only 1.6% for retail properties in a 1-Mile radius and market rents of $18.55/SF in a 5-Mile radius of the property.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

Financing By

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