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    2891 Richmond Rd Lexington, KY 40509

    Sponsored
    For Sale
    $1,200,000

    1.3-acre prime retail land, Lexington, KY

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.3-acre commercial land parcel presents a prime opportunity for retail or restaurant development in Lexington, Kentucky. Located on heavily trafficked Richmond Road (40,088 VPD), this C1-zoned outlot boasts excellent street-front visibility and convenient access via two signalized traffic lights and a direct Richmond Road cut-off. A large pylon sign is available exclusively for this outlot. The property's strategic location is further enhanced by its proximity to major retailers including Lowe's, Kroger, Home Depot, and Burlington, as well as popular restaurants such as Chili's, Panera Bread, and Starbucks. Across the street sits a newly constructed retail center featuring FirstWatch, Skyline Chili, and LaRosa's Pizzeria. This site benefits from its position in a thriving retail and restaurant hub, just four miles from the University of Kentucky, a significant employer with over 46,000 students and staff. The surrounding area features dense residential neighborhoods and a substantial daytime population, supported by major employers like Valvoline, Aramark, and International Paper. The asking price is $1,200,000, with a land value of $1,000,000 per acre. The property's APN is 25833025. This is a rare opportunity to acquire a highly visible and strategically located outlot in a rapidly growing area. The property is available for sale, ground lease, or build-to-suit options.

    Property Features for 2891 Richmond Rd

    General Information

    Property type
    Individual retail properties
    Lot Size
    56,628 SF

    HighLights

    • 1.3‑acre commercial outlot ideal for retail or restaurant development.
    • Excellent street‑front visibility on Richmond Road (40,088 VPD).
    • Centrally located on Richmond Road between New Circle Road and Man O' War Boulevard.
    • Exclusive large pylon sign opportunity.
    • Located near Lowe's, and across from a new retail center with FirstWatch, Skyline Chili, and LaRosa's.
    • Access via two signalized intersections and a direct Richmond Road cut‑off.
    Property Profile Location Intelligence

    Current Use by Public Records

    It Network Consultants ... Computer Consultant Family Works Massage Massage Therapist Holistic Massage Co ... Massage Therapist FADE MASTER'S BARBERSHOP Barber Shop PMI Central Kentucky Property Management Company

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.451875581165
    Latitude
    38.008349635837

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    FAQs

    What type of property is this?
    Individual retail property - 1.3-acre prime retail land, Lexington, KY
    Where is this individual retail property located?
    The property is located at 2891 Richmond Rd Lexington, KY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 1.3-acre commercial outlot ideal for retail or restaurant development.; Excellent street-front visibility on Richmond Road (40,088 VPD).; Centrally located on Richmond Road between New Circle Road and Man O' War Boulevard.
    Request Owner's contact information
    2891 Richmond Rd Lexington, KY 40509
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    Lexington, KY 40509
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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
    2891 Richmond Rd Lexington, KY 40509
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