2220 Nicholasville RdLexington, KY 40503

Property Details for 2220 Nicholasville Rd

Year built

1962

Lot size

7.53 AC

Property size (Sq ft)

78,319 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Community centers

APN

15087701

APU

15087701

Description

This exceptional executive office space, located within the established Zandale Shopping Center at 2220 Nicholasville Rd, Lexington, KY 40503, offers 8,000 square feet of vacant space on the upper floor. The building, constructed in 1962 and extensively renovated in 2022, boasts a total of 78,319 square feet across two stories. The space features a desirable 12-foot ceiling height. This single-building property is zoned B-1 Neighborhood Business (APN 15087701), providing ample opportunity for a variety of businesses. Situated on a high-traffic section of Nicholasville Road, with over 43,000 vehicles passing daily, this location benefits from excellent visibility and strong anchor tenants including Panera Bread, Fazoli's, Chase Bank, Penn Station, and UPS. The property's prime location and high visibility make it an ideal space for businesses seeking a prominent presence in Lexington. The available space is part of a multi-tenant building, offering a vibrant and established business environment. This is a rare opportunity to secure a significant amount of office space in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $18,906,198

  6.5%

  $17,451,876

  7%

  $16,205,313

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,580,370

  Geo Method

  $16,989,082

• Alternative Use

  Use

  Valuation

  Residential

  $14,721,310

  Hospitality

  $13,484,641

  Educational

  $11,219,063

  Medical

  $11,604,903

  Retail

  $17,451,876

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0073

Longitude

-84.5167

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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