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    1951 N Broadway Lexington, KY 40505

    For Sale
    $1,170,000

    COMMERCIAL - Lexington, KY

    Type:Retail
    Property size:
    2,600 SF
    Lot size:
    1.30 Acres
    Days on Market:
    67
    Last Refresh:
    Dec 14 at 3:06 pm

    Property Features for 1951 N Broadway

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Active
    APN
    13895950
    Size
    2,600 SF
    Lot size
    1.30 Acres

    Building Details

    Year built
    1968

    Block + Lot Real Estate 3090099

    Listing agent Gregory Leveridge (859) 309-0099

    Listing date Oct 9, 2025

    Copyright © 2025 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Retail Land with Income

    This property features 1.3 acres of flat, retail land located off N. Broadway in Lexington, Kentucky. It is situated near Interstates 75 and 64, approximately 0.8 miles from Downtown Lexington. The site includes a 2,600 square foot former restaurant, currently leased until September 31, 2028, to a home delivery meal service under a NNN lease. The back portion of the property is leased to a food truck on a month-to-month agreement. The total annual income is $55,200, with yearly increases. The landlord is responsible for the roof and structure, 40% of the property tax bill, and maintaining the parking lot area leased to food trucks. The existing restaurant is fully equipped and in excellent condition, featuring recent improvements. The property is conducive to redevelopment or continued use as is, presenting an opportunity for a future owner occupant, developer, or investor seeking value-add potential. Immediately surrounding the site are a Shell gas station, a Marathon gas station, and a Days Inn and Suites.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.459268
    Latitude
    38.074909

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    FAQs

    What type of property is this?
    Restaurant - 1.3 acres of retail land near downtown Lexington.
    Where is this restaurant located?
    The property is located at 1951 N Broadway Lexington, KY.
    What is the asking price?
    The asking price for this property is $1,170,000.
    What are key features of this property?
    This property features: - 1.3 acres of flat, retail land with redevelopment potential.; - Excellent location: off N. Broadway, near I-75/64, and 0.8 miles from Downtown Lexington.; - Current income of $55,200/year with annual increases from existing tenants.
    (859) 309-0099
    Request Owner's contact information
    1951 N Broadway Lexington, KY 40505
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    Lexington, KY 40505
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1951 N Broadway Lexington, KY 40505
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