2393 Alumni DrLexington, KY 40517

Property Details for 2393 Alumni Dr

Year built

1999

Lot size

1.48 AC

Property size (Sq ft)

14,192 SF

Zone code

P-1

Property type

Office properties

Property subtype

Office buildings

APN

17195600

APU

17195600

Description

One Alumni Plaza, a three-story Class B office building in Lexington, KY, presents a compelling investment opportunity for owner-users or investors. This 19,458 square foot property, situated on a 1.48-acre lot at 2393 Alumni Dr (zip code 40517), boasts a desirable location near Perimeter Drive Office Park and the Alumni Drive New Circle Road exit. Built in 1999, the building features a multi-tenant occupancy with a diverse mix of professional services, currently nearly 100% occupied. The asking price is $1,700,000, translating to $87.37 per square foot. The property is zoned P-1 and offers three levels of finished office space, including a lower level. The building's high visibility and convenient location make it an attractive option for businesses seeking a prominent presence in Lexington. The occupancy date is January 12, 2023. This is a single building investment opportunity with excellent potential for return. The property offers a blend of executive and traditional office spaces, catering to a variety of business needs. Its strong tenant base and strategic location within Lexington's thriving business community make it a highly desirable asset.

• CAP approach

  CAP return

  Valuation

  6%

  $2,434,938

  6.5%

  $2,247,635

  7%

  $2,087,089

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,206,362

  Geo Method

  $1,221,647

• Alternative Use

  Use

  Valuation

  Residential

  $2,787,067

  Hospitality

  $2,552,938

  Educational

  $2,124,015

  Medical

  $2,197,063

  Retail

  $3,304,023

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

37.9938

Longitude

-84.4603

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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