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    536 538 Wesdt 5 St Lexington, KY 40502

    Sponsored
    For Sale
    $52,500

    High-density residential lot, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,251 square foot development site presents a lucrative redevelopment opportunity in Lexington, Kentucky. Located at the corner of West Fifth and Smith Streets, just one block from Jefferson Street, this property boasts a highly desirable location with excellent visibility and accessibility. The lot, measuring 40 feet by 56 feet, is zoned R-4 High Density Apartment, allowing for the construction of a substantial multifamily residential building. This zoning designation offers significant potential for maximizing density and rental income. The asking price for this prime piece of land is $52,500. Given its size, zoning, and strategic location, this property represents a compelling investment for developers seeking to capitalize on the growing demand for multifamily housing in Lexington. The address is 536-538 West Fifth Street, Lexington, KY 40502. Serious inquiries are encouraged. This is a rare opportunity to acquire a well-situated development site in a thriving Kentucky market.

    Property Features for 536 538 Wesdt 5 St

    General Information

    Property type
    Multifamily properties

    HighLights

    • $52,500 asking price.
    • Multifamily development site with R‑4 High Density Apartment zoning.
    • 2,251 square foot lot.
    • Located at 536‑538 West Fifth Street, Lexington, KY 40502.
    • Broker co‑op available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4940998
    Latitude
    38.0573003

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    FAQs

    What type of property is this?
    Multifamily property - High-density residential lot, prime location.
    Where is this multifamily property located?
    The property is located at 536 538 Wesdt 5 St Lexington, KY.
    What is the asking price?
    The asking price for this property is $52,500.
    What are key features of this property?
    This property features: $52,500 asking price.; Multifamily development site with R-4 High Density Apartment zoning.; 2,251 square foot lot.
    (859) 221-6761
    Request Owner's contact information
    536 538 Wesdt 5 St Lexington, KY 40502
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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
    536 538 Wesdt 5 St Lexington, KY 40502
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