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Property profile & analytics
FOR LEASE
Commercial land

2887 Richmond Rd Lexington, KY 40509

1 ac lot
Entity Owned 4-yr Hold Free & Clear
Property ID
US34-0121035
Property summary
AI-generated overview

This exceptional 1.3-acre commercial property presents a rare opportunity for retail or restaurant development in Lexington, KY. Located on heavily trafficked Richmond Road (40,088 VPD), this 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 site. The 1,555 square feet of vacant space is zoned C1, offering flexibility for various uses. The property's strategic location is within a thriving retail and restaurant corridor, just four miles from the University of Kentucky (30,000+ students and 16,000 employees), and is situated near major retailers including Lowe's, Kroger, Home Depot, and Burlington, as well as popular restaurants such as Chili's, Panera Bread, and Starbucks. The site is also across from a newly constructed retail development featuring First Watch, Skyline Chili, and LaRosa's Pizzeria. This location benefits from a dense residential population and a strong daytime workforce, with nearby employers including Valvoline World Headquarters, Aramark, and International Paper. The property is available for sale, ground lease, or build-to-suit options, making it an ideal investment for a variety of business ventures. The property's parcel number is 25833025. This is a truly unique opportunity to establish a presence in a high-demand area with significant foot traffic and strong consumer demographics.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 1 ac (43,560 SF)
Zoning code B-3
APN 38293170
UPID US34-0121035
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Panera Bread Cafe & Coffee Shop
  • AT&T Store Mobile Phone Store Electronics & Wireless Store
  • Next Level Sports Nutrition (Bike/Boat/Book/etc) Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.05M
Owner & transaction history
Hogan Holdings 88 LLC · 4 yrs held
Hogan Holdings 88 LLC
since 2021
Last sale
$2.1M
3 recorded transactions
2021
$2.1M
2012
$2.5M
2011
$2.5M
Zoning & alternative use
B-3 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

ional parking regulations.) (d) Screening. Landscaping and screening shall be provided as required in Article 18 . (e) Lot, Yard, and Height Requirements. Lot and yard requirements shall be as for the Corridor Business (B-3) zone, except for the lot coverage requirement. There shall be no height restriction except when a side or rear yard adjoins a residenti…

Zone name Corridor Business
General category COMMERCIAL
Zone area 1,508.59 ac
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