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

    1537 N Limestone Lexington, KY 40505

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Freestanding car wash on 1.06 acres with high visibility.

    We can help!

    Listing Contact
    Kevin Mayhugh
    Source: Tscg

    Listing Agent: Kevin Mayhugh

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

    Learn more

    Property Insight Report

    Overview

    Former Car Wash on Acreage

    The property is a freestanding former car wash situated on a 1.06-acre parcel. Located in Lexington, Fayette County, Kentucky, the site benefits from good visibility and a traffic count of 37,927 ADT. The 3,233 square foot building is surrounded by area retailers including Walmart, Kroger, Family Dollar, CVS, Chick-Fil-A, and McDonald's.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    EASY CLEAN WASH Car Wash 3 Minute Express ... Car Wash Zips Car Wash Car Wash

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.472527
    Latitude
    38.064088

    Nearby Similar for Sale

    • $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
    • New
      $190,000
      1,758 SF

      Lexington Commercial Office Space Available

      Office space in prime location near Hamburg, Richmond Road.
      519 Darby Creek Rd, Lexington, KY 40509
      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
    • $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
    • New
      $218,000
      Pending

      Renovated Corner Commercial Property

      Turn-key commercial building with high visibility and expansion potential.
      400 Chestnut St, Lexington, KY 40508
      View Details
    • New
      $150,000
      966 SF

      Move-in Ready Office Condo

      Newly renovated office condo with excellent visibility in Lexington.
      715 Shaker Dr, Lexington, KY 40504
      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
    • $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
    • $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
      $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
    • $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

    FAQs

    What type of property is this?
    Car wash - Freestanding car wash on 1.06 acres with high visibility.
    Where is this car wash located?
    The property is located at 1537 N Limestone Lexington, KY.
    What are key features of this property?
    This property features: - High traffic count: 37,927 ADT; - 1.06-acre parcel; - Good visibility
    (502) 874-5933
    Request Owner's contact information
    1537 N Limestone Lexington, KY 40505
    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.
    1537 N Limestone
    Lexington, KY 40505
    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
    1537 N Limestone Lexington, KY 40505
    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
    Kevin Mayhugh
    (502) 874-5933
    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!