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    505 West Main St, Unit 501 Lexington, KY 40507

    For Sale
    $2,299,000

    Elegant penthouse offering refined downtown living and stunning skyline views.

    Property size:
    2,876 SF

    Property Features for 505 West Main St

    General Information

    Size
    2,876 SF

    Building Details

    Year built
    2014

    Source: Keller Williams Bluegrass Realty Agent Rusty Underwood

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

    Overview

    Downtown Penthouse with Skyline Views

    Experience refined downtown living in this elegant, two-story penthouse located atop the 500s on Main, offering views of Lexington's skyline. The three-bedroom, three-bath condo features upscale finishes and stylish decor. Floor-to-ceiling windows flood the open living space with natural light, highlighting coffered ceilings and detailed wainscoting. The kitchen includes high-end paneled appliances, custom cabinetry with bar seating, and a walk-in pantry. The primary suite showcases city views, a luxurious ensuite bath with tiled walk-in shower, and a custom walk-in closet. Upstairs, an entertaining space features built-in bookshelves, dual wine coolers, a wet bar, and automated blinds on upper windows. A spacious rooftop deck includes a pergola, adjustable louvers, ceiling fan, planters with irrigation, and room for dining or lounging. The property includes a secure, enclosed parking garage with interior access to the lobby and elevator. The property is ideally located with downtown attractions, dining, and shopping.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Law Firm Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.488655
    Latitude
    38.039433

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    FAQs

    What type of property is this?
    Single family property - Elegant penthouse offering refined downtown living and stunning skyline views.
    Where is this single family property located?
    The property is located at 505 West Main St, Unit 501 Lexington, KY.
    What is the asking price?
    The asking price for this property is $2,299,000.
    What are key features of this property?
    This property features: - Stunning penthouse with panoramic Lexington skyline views.; - Prime downtown location with immediate access to attractions, dining, and shopping.; - Spacious rooftop deck with pergola, adjustable louvers, ceiling fan, and irrigation.
    Request Owner's contact information
    505 West Main St, Unit 501 Lexington, KY 40507
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    Lexington, KY 40507
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    Realmo Value Estimation

    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.

    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.

    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
    505 West Main St, Unit 501 Lexington, KY 40507
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