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    208 S Limestone Lexington, KY 40508

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    For Sale
    $925,000

    COMMERCIAL - Lexington, KY

    Property size:
    4,624 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $200/SF
    Added:
    Apr 30, 2026
    Days on Market:
    5
    Last Refresh:
    May 4 at 2:06 pm

    Property Features for 208 S Limestone

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    17126400
    Size
    4,624 SF
    Lot size
    0.08 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air, Heat Pump, Multi Units

    Building Details

    Year built
    1940
    Floors in Building
    2
    Building materials
    Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    David L Jones

    Listing agent David L Jones

    Listing office Ky Custom Homes Real Estate 201 W Short St Ste 600, Lexington, KY

    Listing date Apr 30, 2026

    MLS# 26009467

    Copyright © 2026 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

    Lexington Commercial Building For Sale

    This commercial building, located in Lexington, Kentucky, has been operated as a successful nightclub and bar for over 13 years. The building is fully sprinklered and well-maintained, featuring ample electric capacity and a tankless gas water heater. A large two-story patio enhances the property. The building's occupancy is 392 total. The property measures 4,624 square feet according to PVA data and 4,692 square feet per appraisal. Most recently, the space was used as a retail business. It includes four public restrooms and one private staff restroom. Previously, there were two fully plumbed and set up bars, one on each floor. Zoned B-2-B, the property allows for a variety of uses, including residential, apartment, and condominium developments. A privately owned parking lot surrounding the building offers monthly, daily, and hourly paid parking. The property is being sold as is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VIP Smoke Shop ... (Bike/Boat/Book/etc) Store LibertyX Bitcoin ATM Atm sedasdasda Bar & Pub sdawdasd Bar & Pub

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Daycare Center Gym & Fitness Center

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

    Similar Places Nearby

    • Cats Den — 160 Ave of Champions, Lexington, KY 40508
    • Starbucks — 760 Press Ave, Lexington, KY 40508
    • The Fishtank — 500 Euclid Ave, Lexington, KY 40502
    • Starbucks — 740 S Limestone, Lexington, KY 40508
    • saedawdasd — 500 euclid ave, lexington, ky 40502

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.498907
    Latitude
    38.044816

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    FAQs

    What type of property is this?
    Bar & Pub - Well-maintained commercial building with parking lot in Lexington, Kentucky.
    Where is this bar & pub located?
    The property is located at 208 S Limestone Lexington, KY.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: Successful nightclub/bar operation for over 13 years.; B‑2‑B zoning allows for a wide range of uses including residential/apt/condo.; Privately owned parking lot provides income potential.
    (859) 379-6450
    We can help!
    Listing Contact
    David L Jones
    Learn More
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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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    208 S Limestone, Lexington, KY 40508

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