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    523 E Third St Lexington, KY 40508

    Pending
    For Lease
    $21 SF/Yr ($4,817 /Mo)

    COMMERCIAL - Lexington, KY

    Property size:
    2,753 SF
    Lot size:
    0.24 Acres
    Days on Market:
    82
    Last Refresh:
    Dec 7 at 12:06 pm

    Property Features for 523 E Third St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Pending
    APN
    11364600
    Size
    2,753 SF
    Lot size
    0.24 Acres

    Building Details

    Year built
    2025

    Guide Realty, Inc. 2630305

    Listing agent Chancellor D Scott (859) 263-0305

    Listing date Sep 17, 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

    Lexington Commercial Space For Rent

    This commercial property offers 2,753 square feet of B1-zoned space and is located in a rapidly growing area of Lexington, Kentucky. The 0.24-acre lot is positioned near landmarks such as The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park. The property is intended to unite community and business, offering an opportunity to establish a presence in an active corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ORB Studio Architect

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.484427
    Latitude
    38.044074

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    FAQs

    What type of property is this?
    Commercial land - 2,753 SF B1-zoned space in Lexington's growing area.
    Where is this commercial land located?
    The property is located at 523 E Third St Lexington, KY.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - 2,753 SF of B1-zoned space suitable for a variety of business uses.; - Located in a rapidly growing area, indicating high potential for appreciation and business growth.; - Positioned near key cultural landmarks (The Met, Lyric Theatre, Artist Village) and Isaac Murphy Park, offering high visibility and foot traffic.
    (859) 263-0305
    Request Owner's contact information
    523 E Third St Lexington, KY 40508
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    Lexington, KY 40508
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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
    523 E Third St Lexington, KY 40508
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