Property profile

1218 Broadway 275 Lexington, KY 40504

OFF-MARKET
Office Spaces
Property ID
US34-0412217
2,182 SF Built 1966
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity presents multiple executive office condo suites for sale within a 20,001 square foot building situated at 1218 S Broadway in Lexington, Kentucky. The property, built in 1966 and boasting a B-1 zoning classification, sits on a 1.7-acre lot and offers convenient access to major arteries, including a signalized intersection at S. Broadway and American Avenue. The building features two elevators and ample parking. Individual suites range from 1,217 to 5,511 square feet, providing flexibility for various business needs. The strategic location in southwest Lexington places the property near numerous amenities, including restaurants, hotels, and hospitals, notably the recently constructed Lexington Clinic. Its proximity to the University of Kentucky (approximately one mile) further enhances its appeal. The asking price for the entire building is $1,350,000, with individual suite pricing available upon request. This property offers a compelling combination of location, size, and amenities, making it an ideal investment for discerning buyers. Additional adjacent properties are also available for purchase, expanding the potential investment scope. The property's total square footage is approximately 50,957 square feet. The Fayette County location and convenient access to major thoroughfares make this a highly desirable commercial property.

Property profile

Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 1966
Total area 2,182 SF
Zoning code B-1
APN 38140140
UPID US34-0412217

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Physician Medical Clinic
  • Physician Medical Clinic
  • IT Consulting Firm Tech Support Center
  • Physician

Location

1218 Broadway, Unit 275 Lexington, KY 40504-2756
Lexington metro Census 1800 LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$135k

Owner & transaction history

Zoning & alternative use

B-1 · Lexington, KY
Zoning description

2. The principal permitted uses of the P-1 and B-1 zones, except as specifically prohibited hereinbelow. (c) Accessory Uses. The following shall be considered accessory uses in the MU-1 zone: 1. The accessory uses permit…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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