132 Southland DrLexington, KY 40503

Property Details for 132 Southland Dr

Year built

1976

Lot size

0.29 AC

Property size (Sq ft)

7,200 SF

Zone code

B-1

Property type

Retail properties

Property subtype

Retail space

APN

13036700

APU

13036700

Description

This exceptional property at 132 Southland Drive in Lexington, Kentucky, offers a unique blend of retail and office space, currently undergoing a complete renovation. Located in the vibrant Southland neighborhood, this building enjoys excellent visibility and accessibility due to its proximity to Nicholasville Road. The renovation will significantly enhance both the exterior and interior aesthetics, attracting a diverse clientele. The flexible floor plan allows for various business configurations, catering to both retail and traditional office needs. Five individual spaces are available, ranging in size from a minimum of 1,200 square feet to a maximum of 6,000 square feet, spread across the first and second floors. The asking rate is $2,400 per month on a modified gross lease. This prime location within a thriving community presents a compelling opportunity for businesses seeking high visibility and convenient access. The property is situated in Fayette County, Kentucky, with a zip code of 40503. The building's updated design will increase visibility and attract a wide range of customers, making it an ideal location for a variety of businesses. This is a multi-tenant property offering a range of unit sizes to suit various business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $1,752,182

  6.5%

  $1,617,398

  7%

  $1,501,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,527,552

  Geo Method

  $1,561,836

• Alternative Use

  Use

  Valuation

  Residential

  $1,364,336

  Hospitality

  $1,249,724

  Educational

  $1,039,756

  Medical

  $1,075,515

  Retail

  $1,617,398

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.0118

Longitude

-84.519

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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