1525 Bull Lea RdLexington, KY 40511

Property Details for 1525 Bull Lea Rd

Year built

1999

Lot size

5.80 AC

Property size (Sq ft)

19,584 SF

Zone code

P-2

Property type

Office buildings

APN

38027080

APU

38027080

Description

This exceptional 28,000 square foot single-story medical office building, situated on one acre of land in Lexington, KY, presents a unique leasing opportunity. Located in the Newtown Pike/I-75 Corridor at 1525 Bull Lea Drive, this Class B property boasts 100 suites, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 3,550 square feet. Currently, 3,550 square feet of space is available. Built in 1998 and renovated in 2020, the building features a 15-foot ceiling height, ample natural light, and a brand new roof and chiller installed in 2023. The property includes 100 parking spaces and is conveniently located near Newtown Pike and Citation Boulevard. Utilities include electric and gas. The building is zoned P-2 and offers various configurations suitable for medical offices, wet and dry labs, training facilities, and call centers. Property taxes are $1.20 per square foot. This is a rare opportunity to lease established lab space in a highly desirable location. The available space offers a turnkey solution for research and development businesses or those seeking efficient workspace. Larger suites are also available, ideal for corporate offices needing training or event space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,990,233

  6.5%

  $2,760,215

  7%

  $2,563,057

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,614,018

  Geo Method

  $2,432,137

• Alternative Use

  Use

  Valuation

  Residential

  $3,422,666

  Hospitality

  $3,135,144

  Educational

  $2,608,403

  Medical

  $2,698,110

  Retail

  $4,057,516

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0901

Longitude

-84.4942

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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