1713 Nicholasville RdLexington, KY 40503

Property Details for 1713 Nicholasville Rd

Year built

2004

Lot size

0.66 AC

Property size (Sq ft)

5,190 SF

Zone code

P-1

Property type

Healthcare properties

Property subtype

Medical offices

APN

11077900

APU

11077900

Description

This exceptional 6,221 square foot Class A medical office building, situated on a 0.66-acre lot in Lexington's desirable Fayette County submarket, presents a unique investment or leasing opportunity. Currently vacant, this single-tenant building boasts a recent 2021 renovation, including a brand new HVAC system and roof. The two-story structure offers ample parking with 19 spaces and is zoned P-1, allowing for diverse uses. Previously occupied by a physical therapy practice, the property is ideally suited for another medical office user seeking a move-in ready space. However, its versatile zoning and location also make it an attractive option for redevelopment into a fast-casual restaurant, quick-service restaurant (QSR), or other national restaurant chain. The property enjoys a highly convenient location near Baptist Health and the University of Kentucky, ensuring high visibility and accessibility. Detailed as-built drawings are available upon request. This is a rare chance to acquire a well-maintained, recently renovated property in a thriving area, offering significant potential for both immediate occupancy and long-term growth. The total building square footage is 6,221 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $792,448

  6.5%

  $731,491

  7%

  $679,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $427,735

  Geo Method

  $446,755

• Alternative Use

  Use

  Valuation

  Residential

  $907,049

  Hospitality

  $830,852

  Educational

  $691,259

  Medical

  $715,032

  Retail

  $1,075,291

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0196

Longitude

-84.5142

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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