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    Ground Lease Retail Outparcel Title is generated by Realmo AI

    120 Malabu Drive, Lexington, KY 40503

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    Ground-lease outparcel at a new retail development with flexible building size for neighborhood and destination retail uses.

    Type:Padsites
    Property size:
    4,000 SF
    Lot size:
    0.50 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:46 am

    Property Features for 120 Malabu Drive

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Lot size
    0.50 Acres
    Property subtype
    Padsites

    Spaces For Lease

    at 120 Malabu Drive Contact us

    We can help!

    Listing Contact
    P R Smith

    Listing agent P R Smith

    Listing office NAI Isaac

    Listing date Jun 3, 2026

    Source Thebrokerlist

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

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Isaac

    HighLights

    • 0.495‑acre retail pad outparcel for ground lease or build‑to‑suit within The Venue retail development
    • Flexible building size of approximately 2,000–4,000 SF depending on use and final design
    • Ground lease rate listed at $6,000/month NNN (reduced)
    • Nicholasville Road frontage area with 45,326+ VPD in front of the site
    • University of Kentucky campus (30,000+ enrollment) within 2 miles; near Fayette Mall and other major retail
    • Development includes cross parking and is home to tenants such as Dollar Tree, Jason's Deli, La Petite Academy, and more

    Overview

    This offering presents a ground lease opportunity for a retail pad within The Venue, a new Lexington retail development. The outparcel is approximately 0.495 acres and is intended for either ground lease or build-to-suit development. The site can accommodate a building size of approximately 2,000 to 4,000 square feet depending on use and final design.

    The Venue is located inside New Circle Road on Nicholasville Road, a highly trafficked retail corridor with approximately 45,326 VPD in front of the site. The development includes cross parking, supporting convenient customer access. Tenant activity in the surrounding project includes retailers and service concepts such as Dollar Tree, Jason’s Deli, and Tuk Tuk Snack Shop, along with other uses including fitness, childcare, eyecare, and local service operators.

    This pad can be a strong fit for operators seeking to establish a small to mid-size retail presence within a purpose-built neighborhood retail hub. With build-to-suit options and on-site cross parking, the property supports a range of retail and service concepts designed to serve nearby residential areas and nearby employment and institutional demand.
    Location Intelligence

    Current Use by Public Records

    MedixDx-Malabu Dr Medical Laboratory

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.51907
    Latitude
    38.002805

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    FAQs

    What type of property is this?
    Commercial land - Ground-lease outparcel at a new retail development with flexible building size for neighborhood and destination retail uses.
    Where is this commercial land located?
    The property is located at 120 Malabu Drive Lexington, KY.
    What are key features of this property?
    This property features: 0.495‑acre retail pad outparcel for ground lease or build‑to‑suit within The Venue retail development; Flexible building size of approximately 2,000–4,000 SF depending on use and final design; Ground lease rate listed at $6,000/month NNN (reduced)
    (859) 224-2000
    We can help!
    Listing Contact
    P R Smith
    Learn More
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    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
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