114 Reynolds RdLexington, KY 40517

Property Details for 114 Reynolds Rd

Year built

1972

Lot size

0.24 AC

Property size (Sq ft)

6,336 SF

Zone code

P-1

Property type

Healthcare properties

Property subtype

Medical offices

APN

23014000

APU

23014000

Description

This exceptional 6,336 square foot office building, located at 114 E Reynolds Rd, Lexington, KY 40517, presents a unique investment opportunity. Situated on a 0.24-acre lot and conveniently located near Nicholasville Road, this property boasts a prime location with excellent visibility and accessibility. The building is zoned P-1, Professional Office, allowing for a variety of uses. Currently, there are three available office spaces totaling 4,500 square feet, ideal for businesses seeking expansion or relocation. The building's traditional office layout is also well-suited for medical office practices. The property's Asset Property Number (APN) is 23014000. With its multiple tenancy structure, this building offers flexibility for various business needs. The total building size is 6,336 square feet, providing ample space for growth and development. This property represents a compelling opportunity to acquire a well-located, versatile office building in a thriving Kentucky market. The address is easily accessible and benefits from high traffic counts. The available space is ready for immediate occupancy, offering a seamless transition for new tenants. This is an excellent opportunity for businesses seeking a strategic location in Lexington.

• CAP approach

  CAP return

  Valuation

  6%

  $1,087,075

  6.5%

  $1,003,454

  7%

  $931,778

• Comparable approach

  Method

  Valuation

  Relative Method

  $538,579

  Geo Method

  $545,403

• Alternative Use

  Use

  Valuation

  Residential

  $1,244,282

  Hospitality

  $1,139,756

  Educational

  $948,264

  Medical

  $980,876

  Retail

  $1,475,077

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

37.9906

Longitude

-84.5227

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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