698 Perimeter DrLexington, KY 40517

Property Details for 698 Perimeter Dr

Year built

1986

Lot size

0.89 AC

Property size (Sq ft)

16,230 SF

Zone code

P-1

Property type

Office buildings

APN

20011410

APU

20011410

Description

This two-story, 17,000 square foot Class B office building at 698 Perimeter Dr., Lexington, KY 40517, offers multiple suites for lease. The property, built in 1985 and situated on a 0.89-acre lot, features a total of 52 parking spaces. Suites range from 1,200 to 4,900 contiguous square feet, making it ideal for a variety of businesses. The P-1 (Professional Office) zoning allows for diverse professional uses. The building boasts excellent visibility on Perimeter Drive and is conveniently located near the Alumni Drive and New Circle Road interchange, providing easy access. The interior features a sunlit lobby and a layout suitable for professional offices, including open areas and some glassed-walled private offices. Ample surface parking is included. The building currently houses several established businesses, including dental and medical practices, and financial services firms. This is a fantastic opportunity for businesses seeking a well-maintained, conveniently located office space in a thriving Lexington community.

• CAP approach

  CAP return

  Valuation

  6%

  $2,784,600

  6.5%

  $2,570,400

  7%

  $2,386,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,379,598

  Geo Method

  $1,397,078

• Alternative Use

  Use

  Valuation

  Residential

  $3,187,296

  Hospitality

  $2,919,546

  Educational

  $2,429,028

  Medical

  $2,512,566

  Retail

  $3,778,488

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

37.9951

Longitude

-84.4622

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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