2430 Palumbo DrLexington, KY 40509

Property Details for 2430 Palumbo Dr

Year built

1975

Lot size

1.03 AC

Property size (Sq ft)

19,320 SF

Zone code

I-1

Property type

Retail space

APN

10478590

APU

10478590

Description

This exceptional 8,791 square foot flex/industrial unit, situated within a larger 26,015 square foot building, presents a unique investment opportunity in Lexington, KY. Located at 2430 Palumbo Drive, Unit 110, this property boasts a prime location between New Circle Road and Man O' War Boulevard, offering easy access to I-75/I-64. The building, constructed in 1975 and renovated in 2013, is a concrete block structure situated on 1.03 acres and zoned I-1 (Light Industrial). The unit itself includes 3,055 square feet of climate-controlled office space, featuring four private offices, an open office area, a break room, and two restrooms. The remaining 5,736 square feet comprises climate-controlled warehouse space, serviced by two 10' x 12' drive-in doors. Building amenities include 16' clear height ceilings, fluorescent/LED lighting, 3-phase electric, and suspended gas heat in the warehouse area. Approximately 40 parking spaces are available, and building signage is offered to tenants. Operating expenses are below market rates. This high-demand flex unit represents a compelling opportunity for businesses seeking a versatile and strategically located space. The property's size, features, and location make it ideal for a variety of industrial and commercial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $4,336,387

  6.5%

  $4,002,819

  7%

  $3,716,903

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,012,497

  Geo Method

  $4,933,328

• Alternative Use

  Use

  Valuation

  Residential

  $3,376,528

  Hospitality

  $3,092,881

  Educational

  $2,573,241

  Medical

  $2,661,738

  Retail

  $4,002,819

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0193

Longitude

-84.4483

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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