1409 Forbes RdLexington, KY 40511

  • Office buildings
  • 32,888 SF
For Lease
$18/SF/YR View listing

Property Details for 1409 Forbes Rd

Year built
1959
Lot size
3.91 AC
Property size (Sq ft)
32,888 SF
Zone code
R-4
Property type
Office buildings
APN
10028210
APU
10028210

Description

This newly renovated Class A office building, located at 1409 N Forbes Rd in Lexington, KY, offers 3,579 square feet of immediately available space. Situated within The Commons, a vibrant mixed-use development, this property boasts a prime location with easy access to I-75 and I-64, the Central Business District, and Bluegrass Field Airport. The 50,200 square foot building, constructed in 1959 and extensively renovated in 2023, features two stories and ample parking (184 spaces). The suite offers customizable space to meet your business needs. Enjoy a serene, park-like setting with walking trails and abundant green space. Convenient surface parking and evening security patrols provide peace of mind. The property's zoning is PUD-3, and its APN is 220232000008. This exceptional location offers proximity to retail amenities and the Central Business District, making it an ideal choice for businesses seeking a blend of convenience and connectivity. The building is served by gas and electricity and includes elevators. The minimum divisible space is 3,579 square feet, and the maximum contiguous space is also 3,579 square feet. The land encompasses 4.56 acres. This is a truly exceptional opportunity in a thriving Lexington location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,021,588
    6.5%
    $4,635,312
    7%
    $4,304,218
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,710,470
    Geo Method
    $2,830,999
  • Alternative Use

    Use
    Valuation
    Residential
    $5,747,786
    Hospitality
    $5,264,942
    Educational
    $4,380,370
    Medical
    $4,531,018
    Retail
    $6,813,908

Location Insight

City
Lexington
County
Fayette
State
Kentucky
Latitude
38.0645
Longitude
-84.5186
CBSA code
30460
CBSA name
LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$27,576
-
-
$2,230,000
-
-
-
$2,230,000

FAQs

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