Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Kentucky Equestrian Land Opportunity Title is generated by Realmo AI

    1601 Berea Road, Lexington, KY 40511

    View on Map
    Claim this Listing
    For Sale
    $889,000

    LAND - Lexington, KY

    Lot size:
    40.00 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    105
    Last Refresh:
    May 18 at 10:06 am

    Property Features for 1601 Berea Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AR
    Standard status
    Active
    APN
    25705200
    Lot size
    40.00 Acres

    We can help!

    Listing Contact
    Ken J Donworth

    Listing agent Ken J Donworth License #203898

    Listing office Bluegrass Sotheby's International Realty 1999 Richmond Road Ste 400, Lexington, KY

    Listing date Feb 2, 2026

    MLS# 26001994 Listing URL

    Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 40 pristine acres near Kentucky Horse Park.
    • Prime location in Spindletop Estates, close to major interstates.
    • Zoned agricultural, offering versatile development potential.
    • Multiple access points to the property.
    • Proximity to top‑tier veterinary clinics.
    • Ideal for custom estate, horse barn, and riding ring.

    Overview

    This 40-acre property is located off Berea Road in Spindletop Estates, minutes from the Kentucky Horse Park. The land offers multiple access points and proximity to major interstates, as well as top-tier veterinary clinics. Zoned agricultural, the property is suitable for building a custom home, horse barn, and outdoor riding ring. This property presents development possibilities in a prime location within Kentucky's horse country.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Hotel & Motel Pharmacy Travel Agency Catering Service Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.528292
    Latitude
    38.135109

    Nearby Similar for Sale

    • $3,790,000
      12,684 SF

      Iconic Downtown Lexington Office Building

      Highly visible office space with redevelopment potential in downtown Lexington.
      277 E High Street, Lexington, KY 40507
      View Details
    • $925,000
      4,624 SF

      Lexington Commercial Building For Sale

      Well-maintained commercial building with parking lot in Lexington, Kentucky.
      208 S Limestone, Lexington, KY 40508
      View Details
    • $3,700,000
      5,715 SF

      Restaurant Investment in Palomar Centre

      Single tenant net leased investment opportunity in Lexington, Kentucky.
      3600 Palomar Centre Drive, Lexington, KY 40513
      View Details
    • $650,000
      2,654 SF

      Lane Allen Road Commercial Building

      Multi-tenant building on high visibility location, perfect for owner occupant.
      763-765 Lane Allen Road, Lexington, KY 40504
      View Details
    • $1,250,000
      11,578 SF

      Updated Flex Building in Lexington

      Updated flex building with warehouse space in central Lexington.
      1040 Manchester Street, Lexington, KY 40508
      View Details
    • $1,825,000
      7,343 SF

      Downtown Lexington Mixed-Use Building

      Three-story renovated building in prime downtown location.
      161 N Limestone, Lexington, KY 40507
      View Details
    • $500,000
      1,080 SF

      Restaurant Opportunity on Southland Drive

      Restaurant for sale in prime Lexington location with equipment included.
      351 Southland Drive, Lexington, KY 40503
      View Details
    • $775,000
      4,097 SF

      Updated Four-Unit Apartment Complex

      Prime Lexington location near hospital and university with strong rental demand.
      1640 Nicholasville Road, Lexington, KY 40503
      View Details
    • $775,000
      3,149 SF

      Ashland Park Duplex Opportunity

      Charming duplex in Lexington's desirable Ashland Park neighborhood.
      1056-1058 Fontaine Road, Lexington, KY 40502
      View Details
    • $440,000
      3,700 SF

      Lexington Duplex: Modern Investment Potential

      Well-maintained duplex in Lexington with strong income potential.
      3884 Sugar Creek Drive, Lexington, KY 40517
      View Details
    • $1,370,000
      2,400 SF

      Turnkey Auto Sales Property

      Established auto sales business and property for sale in Lexington.
      435-445 E New Circle Road, Lexington, KY 40505
      View Details
    • $682,500
      3,564 SF

      Lexington Triplex Investment Opportunity

      Triplex in Lexington with strong income potential in prime location.
      1205, 1207, 1209 Reva Ridge Way, Lexington, KY 40517
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - 40-acre equestrian property near Kentucky Horse Park.
    Where is this horse & equestrian property located?
    The property is located at 1601 Berea Road Lexington, KY.
    What is the asking price?
    The asking price for this property is $889,000.
    What are key features of this property?
    This property features: 40 pristine acres near Kentucky Horse Park.; Prime location in Spindletop Estates, close to major interstates.; Zoned agricultural, offering versatile development potential.
    (859) 983-9933
    We can help!
    Listing Contact
    Ken J Donworth
    Real Estate License ID: 203898
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1601 Berea Road, Lexington, KY 40511
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!