1171 New Circle RdLexington, KY 40505

Property Details for 1171 New Circle Rd

Year built

2014

Lot size

2.05 AC

Property size (Sq ft)

4,480 SF

Zone code

B-3

Property type

Retail properties

Property subtype

Other automotive properties

APN

23446675

APU

23446675

Description

This exceptional retail opportunity presents a 4,480 square foot free-standing building situated on East New Circle Road in Lexington, Kentucky. The property boasts a highly desirable B-3 zoning classification and is ideally positioned for optimal visibility and accessibility. With over two acres of expansive parking, this single-tenant building offers ample space for customers and employees. The location benefits from exceptional traffic counts, averaging 39,049 vehicles per day on New Circle Road, ensuring significant exposure to potential clientele. Its convenient proximity to Interstate 75, just three miles away, provides easy access for both local and regional customers. The surrounding area is vibrant, featuring a concentration of shopping, dining, and other retail establishments, creating a synergistic environment for business growth. This property is perfect for a variety of retail uses and presents a unique chance to establish a strong presence in a high-traffic location. The building is a single-story structure, classified as Class B, and is available for lease as a single tenant space. The ample parking and high visibility make this an attractive option for businesses seeking a prominent location in Lexington.

• CAP approach

  CAP return

  Valuation

  6%

  $1,005,539

  6.5%

  $928,190

  7%

  $861,891

• Comparable approach

  Method

  Valuation

  Relative Method

  $930,434

  Geo Method

  $1,402,055

• Alternative Use

  Use

  Valuation

  Residential

  $782,963

  Hospitality

  $717,190

  Educational

  $596,694

  Medical

  $617,215

  Retail

  $928,190

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0333

Longitude

-84.4525

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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