1487 BoardwalkLexington, KY 40511

Property Details for 1487 Boardwalk

Year built

1977

Lot size

0.64 AC

Property size (Sq ft)

2,215 SF

Zone code

B-6P

Property type

Retail properties

Property subtype

Drive through restaurants

APN

16696759

APU

16696759

Description

This exceptional 0.64-acre property in Lexington, Kentucky, presents a prime ground lease opportunity. Located at 1487 Boardwalk, in Fayette County (zip code 40511), this site boasts a 2,215 square foot building, ideal for repurposing or demolition. Its strategic location just off W New Circle Rd provides unparalleled visibility and accessibility, situated adjacent to a Walmart Supercenter and Lexmark's World Headquarters. The property benefits from high daily traffic volume generated by nearby retail giants like Ross and Walmart, as well as numerous surrounding office buildings. The B6P zoning allows for a wide range of uses, including a drive-thru restaurant, making it an attractive option for various businesses. The site's existing infrastructure, combined with its prime location within a thriving retail corridor, presents a unique opportunity for significant return on investment. This location is surrounded by established QSRs including Wendy's, Taco Tico, KFC, Arby's, Panda Express, and Dairy Queen, demonstrating the area's strong demand for quick-service restaurants. The property's single-tenant configuration offers flexibility and control. This is a rare chance to acquire a highly visible and accessible site in one of Lexington's busiest retail areas.

• CAP approach

  CAP return

  Valuation

  6%

  $497,158

  6.5%

  $458,915

  7%

  $426,136

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,025

  Geo Method

  $693,204

• Alternative Use

  Use

  Valuation

  Residential

  $387,112

  Hospitality

  $354,593

  Educational

  $295,017

  Medical

  $305,163

  Retail

  $458,915

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0714

Longitude

-84.4835

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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