1950 Nicholasville RdLexington, KY 40503

Property Details for 1950 Nicholasville Rd

Year built

1947

Lot size

0.90 AC

Property size (Sq ft)

2,551 SF

Zone code

P-1

Property type

Office properties

Property subtype

Office buildings

APN

11852200

APU

11852200

Description

This exceptional Lexington, KY property at 1950 Nicholasville Road offers a unique opportunity for investors and businesses alike. Currently zoned P-1, the site encompasses a 4,126 square foot building suitable for various uses, including traditional, creative, or medical office space. The existing structure features 2,500 square feet on the main level and an additional 1,575 square feet of basement space. The property is available for sale at $895,000. Alternatively, a ground lease is available, presenting an exciting prospect for build-to-suit development. Concept plans are available for review, showcasing the redevelopment potential of this strategically located site. The single-tenancy building presents a streamlined ownership experience, ideal for owner-occupiers or investors seeking a stable, high-value asset in a thriving Kentucky market. The property's address is 1950 Nicholasville Rd, Lexington, KY 40503. This versatile property is perfectly positioned to capitalize on Lexington's robust commercial real estate market. Don't miss this chance to acquire a prime piece of Lexington real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $405,297

  6.5%

  $374,120

  7%

  $347,398

• Comparable approach

  Method

  Valuation

  Relative Method

  $212,438

  Geo Method

  $219,590

• Alternative Use

  Use

  Valuation

  Residential

  $463,909

  Hospitality

  $424,939

  Educational

  $353,544

  Medical

  $365,703

  Retail

  $549,957

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.012

Longitude

-84.5158

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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