3475 Blazer PkwyLexington, KY 40509

Property Details for 3475 Blazer Pkwy

Year built

1983

Lot size

3.10 AC

Property size (Sq ft)

88,910 SF

Zone code

P-1

Property type

Office buildings

APN

20006550

APU

20006550

Description

This exceptional Lexington, KY office campus, formerly the headquarters for Valvoline and Ashland Oil, offers 365,000 square feet of flexible space across two Class A buildings on a 22.9-acre landscaped campus. The property boasts two large ponds with fountains and over a mile of walking trails. Each building features efficient floor plans adaptable to single or multiple tenants, with a minimum divisible space of 28,000 square feet and up to 365,000 square feet contiguous. The five-story buildings, constructed in phases (1983 and 1991), offer 10-foot ceilings and a modular wall system for easy, cost-effective reconfiguration. The property includes 230 parking spaces and eight elevators. Robust infrastructure includes two underground 2,000-volt power services from redundant substations, 480/277-volt 3-phase 4-wire service with GFI protection, and three Caterpillar diesel generators for backup power. Utilities are distributed via an underground tunnel, also serving as a storm shelter. The property is ideally suited for executive offices, coworking spaces, medical offices, creative offices, or traditional office uses. Multiple suites are available.

• CAP approach

  CAP return

  Valuation

  6%

  $17,288,300

  6.5%

  $15,958,400

  7%

  $14,818,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,557,610

  Geo Method

  $7,653,370

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $30,814,500

  Retail / Commercial

  $15,919,700

  Mixed-Use / Specialty

  $15,956,200

  Hospitality / Lodging

  $11,827,900

  Institutional / Educational

  $16,621,300

  Residential Income

  $19,446,900

  Multifamily

  $22,807,000

  Automotive / Energy

  $14,246,800

  Parking / Income-Based Land

  $4,824,340

  Restaurant / Food Service

  $8,497,800

  Healthcare / Senior Housing

  $16,267,200

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0005

Longitude

-84.4353

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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