1510 Newtown PikeLexington, KY 40511

Property Details for 1510 Newtown Pike

Year built

1990

Lot size

4.89 AC

Property size (Sq ft)

46,000 SF

Zone code

B-1

Property type

Office buildings

APN

10026820

APU

10026820

Description

Griffin Gate Plaza offers 3,773 square feet of immediately available Class A office space in Lexington, Kentucky. Located at 1510 Newtown Pike, this single, two-story building boasts 44,574 total square feet, with suites ranging from 1,710 to 2,063 contiguous square feet. The property features ample free parking, providing convenient access for tenants and clients. Its B-1 zoning allows for a variety of business uses. Situated near the Marriott Griffin Gate Resort, this location offers excellent visibility and exposure on Newtown Pike, benefiting from proximity to Interstates 75/64 and a large daytime business population. First-floor suites include private exterior entrances, flexible floor plans, and 24-hour access. Full-length canopies enhance the building's exterior and provide ideal space for tenant signage. Enjoy scenic views of the resort and golf course from these first-class suites.

• CAP approach

  CAP return

  Valuation

  6%

  $7,960,110

  6.5%

  $7,347,790

  7%

  $6,822,950

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,791,100

  Geo Method

  $5,712,740

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $14,803,500

  Retail / Commercial

  $7,525,110

  Mixed-Use / Specialty

  $7,446,240

  Hospitality / Lodging

  $5,395,310

  Institutional / Educational

  $7,722,480

  Residential Income

  $9,035,310

  Multifamily

  $11,125,000

  Automotive / Energy

  $6,619,270

  Parking / Income-Based Land

  $2,335,650

  Restaurant / Food Service

  $3,761,780

  Healthcare / Senior Housing

  $7,689,340

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0874

Longitude

-84.4885

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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