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    Retail Hub Storefront Opportunity Title is generated by Realmo AI

    124 & 148 Malabu Drive, Lexington, KY 40503

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    Positioned on a highly trafficked Lexington retail corridor, offering storefront space within a newly developed retail hub.

    Type:Neighborhood Center
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:56 am

    Property Features for 124 & 148 Malabu Drive

    General Information

    Standard status
    Active
    Property subtype
    Neighborhood Center

    Properties For Sale

    at 124 & 148 Malabu Drive Contact us

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    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

    • Storefront leasing opportunities at The Venue inside New Circle Road on Nicholasville Road in Lexington
    • Nicholasville Road retail corridor with +/-45,326 VPD reported in the marketing remarks
    • Close proximity to Fayette Mall (+/-1.2 million SF), Plaza at Fayette Mall, and Summit at Fritz Farm
    • Near University of Kentucky, Blue Grass Airport, downtown, and Baptist Health
    • Located within Lexington’s newest retail development, The Venue, designed as a retail hub for nearby residential neighborhoods and area institutions

    Overview

    This offering provides retail storefront opportunities within The Venue, a newer Lexington-area retail development designed to function as a local retail hub. The development is described as having a curated tenant mix and an overall design intended to support surrounding demand from both sides of Nicholasville Road and from major nearby employment and activity centers.

    The Venue is located inside New Circle Road on Nicholasville Road, described as one of Lexington’s most desirable and highly trafficked retail corridors with approximately +/-45,326 VPD. The property is presented with strong regional draw, including proximity to Fayette Mall and related shopping areas, Summit at Fritz Farm, the University of Kentucky, Blue Grass Airport, downtown, and Baptist Health.

    For retail operators and investors, this location profile supports concepts that benefit from consistent daytime and evening traffic and visibility along a major thoroughfare. The mix and tenant purpose are positioned toward serving nearby residential neighborhoods while also capturing foot traffic from the University of Kentucky and hospital demand.
    Location Intelligence

    Current Use by Public Records

    HITS Boxing Club Gym & Fitness Center PrintWithMe Print Kiosk ... (Bike/Boat/Book/etc) Store Tuk Tuk Snack ... Restaurant Floyd's 99 Barbershop Barber Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • South Park Shopping Center — 3220 Nicholasville Rd, Lexington, KY 40503
    • Lexington Green — 161 Lexington Green Cir, Lexington, KY 40503
    • The Venue — 148 Malabu Dr, Lexington, KY 40503
    • Coin Cloud Bitcoin ATM — 100 Regency Point Path #130, Lexington, KY 40503
    • Kroger Regency Centre — 150 W Lowry Ln, Lexington, KY 40503

    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?
    Shopping center - Positioned on a highly trafficked Lexington retail corridor, offering storefront space within a newly developed retail hub.
    Where is this shopping center located?
    The property is located at 124 & 148 Malabu Drive Lexington, KY.
    What are key features of this property?
    This property features: Storefront leasing opportunities at The Venue inside New Circle Road on Nicholasville Road in Lexington; Nicholasville Road retail corridor with +/-45,326 VPD reported in the marketing remarks; Close proximity to Fayette Mall (+/-1.2 million SF), Plaza at Fayette Mall, and Summit at Fritz Farm
    (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.

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