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    451 South Ashland Ave Lexington, KY 40502

    For Sale
    $975,000

    Turnkey mixed-use property with modern finishes in Lexington's Chevy Chase.

    Property Features for 451 South Ashland Ave

    General Information

    Zoning
    B-1

    Source: Justin Ryder, CCIM Agent Justin Ryder, CCIM

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

    Overview

    Mixed-Use Property in Chevy Chase

    This 2,622 SF mixed-use property is located in the heart of Lexington’s historic Chevy Chase business district. The street level space of 1,709 SF includes a 1,355 SF storefront/showroom/office and a 354 SF climate-controlled garage/storage area with a utility sink and high ceilings. The space features a private office, restroom, and a walk-out porch. Floor-to-ceiling windows provide natural light overlooking the neighborhood. Upstairs, a 913 SF rentable 3-bedroom apartment with modern finishes and new appliances is suitable for young professionals or short-term rentals. The property offers visible signage opportunities and is zoned B-1. The Chevy Chase neighborhood is known for its convenient location, pedestrian-friendly streets, architecture, parks, shopping, and schools. The property is located near high-end restaurants and local boutique shopping, minutes from downtown Lexington, and 0.5 miles from the University of Kentucky’s campus. The property can be used as a business/retail space, and the owner-occupant can live above their business or rent the upstairs unit to create an income stream.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Revive Sauna Studio ... Sauna Moderno Design House Furniture Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office 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
    -84.492518
    Latitude
    38.02983

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    FAQs

    What type of property is this?
    Mixed-use property - Turnkey mixed-use property with modern finishes in Lexington's Chevy Chase.
    Where is this mixed-use property located?
    The property is located at 451 South Ashland Ave Lexington, KY.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - Prime location in Lexington's historic Chevy Chase business district, near restaurants, boutiques, and the University of Kentucky.; - Mixed-use property with a 1,709 SF street-level commercial space and a 913 SF upstairs residential unit.; - Turnkey opportunity with high-end modern finishes throughout the property.
    (859) 447-3285
    Request Owner's contact information
    451 South Ashland Ave Lexington, KY 40502
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    Lexington, KY 40502
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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
    451 South Ashland Ave Lexington, KY 40502
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