Multifamily Opportunity Zone
For Sale
Contact for pricing
150 Northland Dr, Lexington, KY 40505
78-unit apartment community and entitled land in Lexington, Kentucky.
Property Size63,065 SF
Lot Size5.73 Acres
Days on Market156
Property Features for 150 Northland Dr
General Information
Standard status
Active
Size
63,065 SF
Lot size
5.73 Acres
Property subtype
Land, Multifamily
Zoning
R-3
Occupancy
87%
Building Details
Year Built
1974
Buildings
5
Stories
2
Units
78
Listing Agency:
SVN | Stone Commercial Real Estate
(859) 264-0888
Listed By:
Rachel Ridd · License #KN 287622
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Jul 15 at 10:32PM
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 SVN | Stone Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering features a 78-unit multifamily community known as The Biscayne Apartments, situated on 3.71 acres, along with an additional 2.02 acres of entitled land at 1411/1425 N Limestone, totaling 5.73 acres. The Biscayne Apartments consist of five masonry buildings with one- and two-bedroom residences. The property is located minutes from the NoLi (North Limestone) District and the Greyline Station marketplace. The asset is located in both a Qualified Census Tract and an Opportunity Zone. Lexington faces a housing shortage, with a documented deficit of 22,000 housing units needed to meet existing demand. The property is near downtown employment anchors like Rupp Arena, Central Bank Center, and the UK Healthcare system.
Key Highlights
- Largest Qualified Multifamily Opportunity Zone Investment in Lexington, KY: A rare 5.73‑acre opportunity with significant tax advantages.
- High‑Demand Location: Situated in a rapidly transforming area near the NoLi District and Greyline Station.
- Significant Value‑Add Potential: Opportunity to improve operational efficiency and increase revenue.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
935
Businesses Nearby
Explore this area
Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 78-unit apartment community and entitled land in Lexington, Kentucky.
Where is this apartment building located?
The property is located at 150 Northland Dr Lexington, KY.
What are key features of this property?
This property features: Largest Qualified Multifamily Opportunity Zone Investment in Lexington, KY: A rare 5.73‑acre opportunity with significant tax advantages.; High‑Demand Location: Situated in a rapidly transforming area near the NoLi District and Greyline Station.; Significant Value‑Add Potential: Opportunity to improve operational efficiency and increase revenue.
