This exceptional 1.3-acre commercial land parcel presents a prime opportunity for retail or restaurant development in Lexington, Kentucky. Located on heavily trafficked Richmond Road (40,088 VPD), this C1-zoned outlot boasts excellent street-front visibility and convenient access via two signalized traffic lights and a direct Richmond Road cut-off. A large pylon sign is available exclusively for this outlot. The property's strategic location is further enhanced by its proximity to major retailers including Lowe's, Kroger, Home Depot, and Burlington, as well as popular restaurants such as Chili's, Panera Bread, and Starbucks. Across the street sits a newly constructed retail center featuring FirstWatch, Skyline Chili, and LaRosa's Pizzeria. This site benefits from its position in a thriving retail and restaurant hub, just four miles from the University of Kentucky, a significant employer with over 46,000 students and staff. The surrounding area features dense residential neighborhoods and a substantial daytime population, supported by major employers like Valvoline, Aramark, and International Paper. The asking price is $1,200,000, with a land value of $1,000,000 per acre. The property's APN is 25833025. This is a rare opportunity to acquire a highly visible and strategically located outlot in a rapidly growing area. The property is available for sale, ground lease, or build-to-suit options.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$3,814,150
Hospitality
$3,493,741
Educational
$2,906,752
Medical
$3,006,719
Retail
$4,521,614
Location Insight
City
Lexington
County
Fayette
State
Kentucky
Latitude
38.0082
Longitude
-84.4513
CBSA code
30460
CBSA name
LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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