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    518 Codell Dr Lexington, KY 40509

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    For Sale
    $1,950,000

    16,850 SF industrial facility with income security.

    Property Features for 518 Codell Dr

    General Information

    Zoning
    I1

    Source: Gabe Measner Agent Gabe Measner

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

    Overview

    Functional Industrial Facility For Sale

    This 16,850 square foot industrial facility is located at 518 Codell Drive in Lexington, Kentucky. Situated on 0.64 acres, the property features two grade-level drive-in doors and one dock-height loading door. It is equipped with three-phase power and full climate-control capabilities. Dedicated off-street parking is available. The property is located in the Palumbo industrial corridor, providing easy access to New Circle Road and is less than 5 miles from I-75. The property is currently occupied under a one-year lease expiring in Q3 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Murty Pharmaceuticals Inc Pharmaceutical Company

    Suggested Use

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

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

    Similar Places Nearby

    Palumbo Park Self Storage, W T Young Storage Co, My 3 Sons Moving Lexington, Vincent Fister Inc., Safeway Moving & Storage

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.450736
    Latitude
    38.022389

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    FAQs

    What type of property is this?
    Warehouse - 16,850 SF industrial facility with income security.
    Where is this warehouse located?
    The property is located at 518 Codell Dr Lexington, KY.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: - Strategic location in Palumbo industrial corridor with easy access to New Circle Road and I-75.; - 16,850 square foot facility with **two grade-level drive-in doors and one dock-height loading door.**; - **Full climate-control capabilities** throughout the building.
    (859) 630-7106
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    518 Codell Dr Lexington, KY 40509
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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
    518 Codell Dr Lexington, KY 40509
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