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    381 Legion Dr Lexington, KY 40504

    Sponsored
    For Sale
    $385,000

    0.32-acre lot, prime Lexington location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.32-acre commercial land parcel, located at 381 Legion Drive in Lexington, Kentucky, presents a compelling investment opportunity. Situated in Fayette County, zip code 40504, this property (APN 13429000) is zoned B-1, allowing for a variety of development possibilities. Its strategic location adjacent to 1218 S. Broadway offers significant advantages. The property benefits from its proximity to a thriving commercial corridor, featuring numerous restaurants, hotels, and hospitals, including the recently constructed Lexington Clinic. This high-traffic area ensures excellent visibility and accessibility. Furthermore, its location on the inbound side of S. Broadway, across from the Lexington Clinic, guarantees substantial foot and vehicle traffic. The property's convenient location just outside of downtown Lexington and approximately one mile from the University of Kentucky adds to its appeal. The potential for development is further enhanced by the option to acquire eight adjacent office condo suites at 1218 S. Broadway, providing a unique opportunity to create a cohesive and synergistic commercial development. This offering represents a rare chance to secure a well-positioned commercial lot in a rapidly growing area of Lexington. The asking price for this exceptional property is $385,000.

    Property Features for 381 Legion Dr

    General Information

    Property type
    Land
    Lot Size
    13,939 SF

    HighLights

    • $385,000 asking price.
    • 0.32‑acre commercial land parcel.
    • B‑1 zoning.
    • Located at 381 Legion Dr, Lexington, KY 40504 (APN 13429000).
    • Adjacent to 1218 S. Broadway, near Lexington Clinic and UK.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.520213
    Latitude
    38.034747

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    FAQs

    What type of property is this?
    Land - 0.32-acre lot, prime Lexington location.
    Where is this land located?
    The property is located at 381 Legion Dr Lexington, KY.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: $385,000 asking price.; 0.32-acre commercial land parcel.; B-1 zoning.
    (859) 309-0099
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    381 Legion Dr Lexington, KY 40504
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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
    381 Legion Dr Lexington, KY 40504
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