Sprinklered Nightclub-Bar
208 S Limestone Lexington, KY 40507
For Sale
$925,000
Fully sprinklered and well maintained with a large two-story patio, ample electric, and multiple restroom facilities.
Property Size4,624 SF
Price / SF$200.04
Days on Market89
Property Features for 208 S Limestone
General Information
Standard status
Active
Size
4,624 SF
Listing Agency:
Ky Custom Homes Real Estate
(859) 312-7333
Listed By:
David L Jones · License #282642
(859) 312-7333
Source:
Exprealty
Added: Apr 30
Changed: Jul 22
Last Checked: Jul 26 at 8:17PM
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 Ky Custom Homes Real Estate
Investment Insights
Based on property information with market context.
This sprinklered, well-maintained building has ample electric service and a tankless gas water heater, and it is designed for entertainment use with a large two-story patio. The layout supports bar service with two fully plumbed setups that were previously configured as one bar per floor. Restroom facilities include four total public restrooms and one private staff restroom.
According to appraisal and PVA records, the building size is reported as 4,692 square feet (appraisal) and 4,624 square feet (PVA). The property has an indicated occupancy of 392. It is zoned B-2-B, which allows a wide range of uses, including residential options such as apartments or condos.
The building is served by a privately owned parking lot around the property, offering monthly, daily, and hourly pay parking. The property is offered for sale “as is.”
According to appraisal and PVA records, the building size is reported as 4,692 square feet (appraisal) and 4,624 square feet (PVA). The property has an indicated occupancy of 392. It is zoned B-2-B, which allows a wide range of uses, including residential options such as apartments or condos.
The building is served by a privately owned parking lot around the property, offering monthly, daily, and hourly pay parking. The property is offered for sale “as is.”
Key Highlights
- Fully sprinklered and well maintained building formerly operated as a nightclub/bar for 13+ years
- Large two‑story patio plus ample electric for the existing business setup
- Total occupancy listed as 392
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.1k | $15.60 |
| − Vacancy | −$3.6k | −$0.78 |
| EGI | $68.5k | $14.82 |
| − OpEx | −$17.1k | −$3.70 |
| NOI | $51.4k | $11.11 |
4,624 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$734.2K
$642.5K – $856.6K
NOI $51,396 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.4K
$843.0K – $1.12M
NOI $67,438 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Cats Den — 160 Ave of Champions, Lexington, KY 40508
- Old Vine Bistro — 400 Old Vine St Ste. 106, Lexington, KY 40507
- Coliseum Liquors — 379 Rose St, Lexington, KY 40508
- Two Keys Tavern — 385 S Limestone, Lexington, KY 40508
- Clubhouse — 385 S Limestone, Lexington, KY 40508
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully sprinklered and well maintained with a large two-story patio, ample electric, and multiple restroom facilities.
Where is this bar & pub located?
The property is located at 208 S Limestone Lexington, KY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Fully sprinklered and well maintained building formerly operated as a nightclub/bar for 13+ years; Large two‑story patio plus ample electric for the existing business setup; Total occupancy listed as 392
