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    The Largest CRE Database in the US with Over 1 Million Listings

    Adam Boardman, Lexington, KY

    License ID: 72655
    Block + Lot Real Estate
    Years of Experience
    12

    Service Locations

    Contact details

    Phone:
    (859) 338-8243

    Property Types

    • Land

    Performance

    Listings
    17
    Total transactions
    79
    Total transactions amount
    $42M
    Price range
    $160k - 2.3M
    Average price
    $532k

    Listings

    For Sale (12)

    View map
    • $995,000
      4.56 Acres

      Prime Commercial Land in Berea

      4.56 acres of commercial land with high visibility and accessibility.
      519 Walnut Meadow Rd, Berea, KY 40403
      View Details
    • $279,000
      1.20 Acres

      Commercial Land in Berea, KY

      1.2 acres of prime commercial land in Berea, Kentucky.
      212 Pauline Dr, Berea, KY 40403
      View Details
    • $3,655,000
      17.00 Acres

      Prime Commercial Land Near I-75

      17 acres of B-4 zoned land with high visibility.
      261 Paint Lick Rd, Berea, KY 40403
      View Details
    • $649,000
      0.91 Acres

      Residential Lot in Lexington, KY

      Residential lot in Lexington near the University of Kentucky.
      3561 Colt Neck Ln, Lexington, KY 40502
      View Details
    • $1,750,000
      13.77 Acres

      Berea Commercial Land Development Opportunity

      Nearly 14 acres of B-2 zoned commercial land for sale.
      511 Estill St, Berea, KY 40403
      View Details
    • $950,000
      11,923 SF

      Prime Retail Space in Berea

      Retail shell space in high-traffic Berea location, ready for customization.
      310 Richmond Rd, Berea, KY 40403
      View Details
    • $299,000
      1.20 Acres

      212 Pauline Dr

      Land • 1.20 Acres
      212 Pauline Dr, Berea, KY 40403
      View Details
    • $1,200,000
      4.00 Acres

      Berea KY Commercial Land

      4 Acres, Prime Commercial Location
      519 Walnut Meadow Rd, Berea, KY 40403
      View Details
    • $3,950,000
      17.00 Acres

      Berea KY Commercial Land

      17 Acres, I-75 Access, B-4 Zoning
      261 Paint Lick Rd, Berea, KY 40403
      View Details
    • $950,000
      11,923 SF

      Prime Berea Retail Storefront

      11,923 SF Retail Space - $950,000
      310 Richmond Rd, Berea, KY 40403
      View Details
    • $589,000
      18.38 Acres

      Hwy 62 West Industrial Property

      12,700 SF Warehouse, 18 Acres
      0 Us Highway 62, Princeton, KY 42445
      View Details
    • $950,000
      11,923 SF

      310 Richmond Rd, Berea, KY 40403

      Commercial real estate • 11,923 SF
      310 Richmond Rd, Berea, KY 40403
      View Details

    For Lease (5)

    View map
    • $19 SF/Yr
      6,848 SF

      Downtown Lexington Creative Office Space

      Renovated historic building with modern amenities in downtown Lexington.
      146 E Third St, Lexington, KY 40508
      View Details
    • $22 SF/Yr
      40,690 SF

      Lexington Office, Lab, Flex Space

      Modern office, lab, and flex space in Hamburg Business District.
      2277 Thunderstick Dr, Lexington, KY 40505
      View Details
    • New
      $15 SF/Yr
      5,318 SF

      Retail Units on Winchester Road

      Remodeled retail units available on Winchester Road in Lexington.
      1104 Winchester Rd, Lexington, KY 40505
      View Details
    • $13 SF/Yr
      2,200 SF

      Updated Office Building in Winchester

      2,200 SF office space in the heart of Winchester.
      116 S Maple St, Winchester, KY 40391
      View Details
    • $950 /Mo
      84 SF

      Office Suites in Chevy Chase

      Upscale office building with amenities in the heart of Chevy Chase.
      804 Chevy Chase Pl, Lexington, KY 40502
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

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    Request Owner's contact information
    Adam Boardman, Lexington, KY
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Adam Boardman, Lexington, KY
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