Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1908 Nicholasville Centre Dr Lexington, KY 40503

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-traffic retail space near Fayette Mall.

    Property Features for 1908 Nicholasville Centre Dr

    General Information

    Property type
    Other commercial real estate
    Lot Size
    107,593 SF

    We can help!

    Listing Contact
    Bryan Little

    Listing Agency: Keller Williams Commonwealth Listing Agent: Bryan Little

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 1,800 square foot commercial space is ideally situated at 1908 Nicholasville Centre Drive, Unit 200, Lexington, KY, within the highly desirable Fayette Square. Boasting a prime location just off Nicholasville Road, this property benefits from exceptional visibility and high foot traffic due to its proximity to the bustling Fayette Mall. The 2.47-acre lot provides ample space and parking opportunities, enhancing the overall appeal and accessibility for customers and employees. The versatile space is perfect for a wide range of businesses, from established franchises seeking expansion to local entrepreneurs launching new ventures. This location offers unparalleled exposure to a large and diverse customer base, ensuring significant potential for growth and success. The property's strategic placement within Fayette Square guarantees a vibrant and thriving business environment. Interested parties are encouraged to inquire further to explore the possibilities this exceptional commercial space presents. This is a rare opportunity to secure a prominent location in one of Lexington's most sought-after commercial areas. The property is priced at $14 million.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.52772
    Latitude
    37.98444

    Nearby Similar for Sale

    • New
      $360,000
      Pending

      Versatile Commercial Property in Lexington

      Prime location with high visibility and traffic near downtown Lexington.
      1326 Versailles Rd, Lexington, KY 40504
      View Details
    • $749,900
      1,080 SF

      Turn-Key Restaurant Opportunity

      Profitable restaurant franchise with equipment included for sale.
      351 Southland Dr, Lexington, KY 40503
      View Details
    • New
      $1,400,000
      8,424 SF

      Versatile Commercial Property in Lexington

      Dynamic commercial property in Lexington's thriving industrial and business corridor.
      680 Lima Dr, Lexington, KY 40511
      View Details
    • $695,000
      2,654 SF

      Multi-Tenant Building on High Visibility

      Multi-tenant building for sale in high-visibility location.
      763-765 Lane Allen Rd, Lexington, KY 40504
      View Details
    • $425,000
      1,763 SF

      Downtown Lexington Commercial Condo For Sale

      1,763 SF retail/creative office space in the NoLi District.
      211 N Limestone, Lexington, KY 40507
      View Details
    • $218,000
      1,078 SF

      Renovated Corner Commercial Property

      Turn-key commercial building with high visibility and expansion potential.
      400 Chestnut St, Lexington, KY 40508
      View Details
    • $2,475,000
      Pending

      Retail/Flex Building on Regency Road

      14,400 SF retail/flex building for sale in Lexington, KY.
      2550 Regency Rd, Lexington, KY 40503
      View Details
    • $210,000
      1,758 SF

      Lexington Office Space For Sale

      Office space in prime location near Hamburg, Richmond Road, I-75.
      519 Darby Creek Rd, Lexington, KY 40509
      View Details
    • $1,470,000
      2,400 SF

      Auto Sales Property and Business

      Turnkey auto sales property and business on a busy road.
      435-445 E New Circle Rd, Lexington, KY 40505
      View Details
    • New
      $197,500
      1,200 SF

      Lexington Commercial Office Condo

      Commercial office condo available for sale in Lexington, Kentucky.
      80 Codell Dr Unit, Lexington, KY 40509
      View Details
    • $159,900
      966 SF

      Renovated Office Condo For Sale

      Move-in ready Lexington office condo with recent upgrades and excellent visibility.
      715 Shaker Dr, Lexington, KY 40504
      View Details
    • $230,000
      771 SF

      Prime Commercial Suite in Lexington

      771 sq ft suite suitable for professional uses.
      2121 Nicholasville Rd Unit, Lexington, KY 40503
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-traffic retail space near Fayette Mall.
    Where is this commercial real estate located?
    The property is located at 1908 Nicholasville Centre Dr Lexington, KY.
    What is the asking price?
    The asking price for this property is $14.
    (859) 619-4969
    Request Owner's contact information
    1908 Nicholasville Centre Dr Lexington, KY 40503
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1908 Nicholasville Centre Dr
    Lexington, KY 40503
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1908 Nicholasville Centre Dr Lexington, KY 40503
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bryan Little
    (859) 619-4969 (859) 721-2121
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!