2001 Bryant RdLexington, KY 40509

Property Details for 2001 Bryant Rd

Year built

2008

Lot size

2.73 AC

Property size (Sq ft)

74,415 SF

Zone code

B-5P

Property type

Hotels

Property subtype

Motels

APN

38045510

APU

38045510

Description

This exceptional 74,415 square foot Hyatt Place hotel in Lexington, KY, presents a compelling investment opportunity. Built in 2008, this six-story, 127-key property sits on a 2.73-acre lot and boasts a strong location near key attractions, including the Kentucky Horse Park, Lexington Convention Center, and the University of Kentucky. The hotel's strategic position benefits from the thriving Lexington economy, fueled by diverse industries such as manufacturing, technology, and higher education. With a current occupancy rate of 60.8% (as of September 30, 2024), the property generates a Net Operating Income (NOI) of $981,105. The asking price is $15,700,000, translating to $210.98 per square foot and $123,622.05 per key. Further enhancing its long-term potential are significant nearby developments, including a $300 million investment in new hospitals and medical facilities. This fee-simple ownership offers a chance to capitalize on Lexington's dynamic market, situated in the heart of Kentucky's Bluegrass region, known for its rich thoroughbred horse racing, bourbon distilleries, automotive industry, and the University of Kentucky. The property offers a quality building with great amenities, making it an attractive option for investors seeking exposure to a robust and diverse market.

• CAP approach

  CAP return

  Valuation

  6%

  $14,501,714

  6.5%

  $13,386,197

  7%

  $12,430,040

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,864,915

  Geo Method

  $21,717,758

• Alternative Use

  Use

  Valuation

  Residential

  $14,613,838

  Hospitality

  $13,386,197

  Educational

  $11,137,159

  Medical

  $11,520,183

  Retail

  $17,324,470

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0189

Longitude

-84.4107

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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