278 Southland DrLexington, KY 40503

Property Details for 278 Southland Dr

Year built

1985

Lot size

0.65 AC

Property size (Sq ft)

9,200 SF

Zone code

B-1

Property type

Office buildings

APN

38140740

APU

38140740

Description

This exceptional Lexington, KY property at 278 Southland Drive offers a unique blend of office and retail space, ideal for coworking or creative businesses. The single-story, 9,080 square foot building sits on a 0.65-acre lot and is classified as Class B. Currently, 1,100 square feet is available for lease within this multi-tenant building. The property boasts a prime location on Southland Drive, a recently revitalized area with improved streetscapes, new bike lanes, and reconstructed sidewalks, making it highly pedestrian-friendly. Benefit from the high traffic volume of approximately 14,404 vehicles per day passing the property. The surrounding neighborhood is experiencing a surge in residential growth, fueling increased commercial activity. This vibrant area hosts popular local events such as the Lexington Farmer's Market, Southland Street Fair, and Southland Jamboree, providing excellent exposure and foot traffic. The property is zoned B-1, Neighborhood Business, and is conveniently located near Nicholasville Road in Fayette County, KY, zip code 40503. This presents a rare opportunity to establish a presence in a thriving and dynamic commercial corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,529,070

  6.5%

  $1,411,449

  7%

  $1,310,631

• Comparable approach

  Method

  Valuation

  Relative Method

  $775,368

  Geo Method

  $791,936

• Alternative Use

  Use

  Valuation

  Residential

  $1,750,197

  Hospitality

  $1,603,171

  Educational

  $1,333,819

  Medical

  $1,379,691

  Retail

  $2,074,830

Location Insight

City

Lexington

County

Fayette

State

Kentucky

Latitude

38.014

Longitude

-84.5233

CBSA code

30460

CBSA name

LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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