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    2887 Richmond Rd Lexington, KY 40509

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    For Lease
    Contact for pricing

    Lexington, KY: Prime Retail Opportunity

    Lot size:
    1,555 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    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 Features for 2887 Richmond Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,555 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    56,628 SF
    Space
    1.3 Acres - Ground Lease or BTS
    Size
    56,628 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Panera Bread Cafe AT&T Store Cell Phone Store Next Level Sports ... Vitamin & Supplements Store

    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
    -84.4516428
    Latitude
    38.0081099

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    FAQs

    What type of property is this?
    Neighborhood center - Lexington, KY: Prime Retail Opportunity
    Where is this neighborhood center located?
    The property is located at 2887 Richmond Rd Lexington, KY.
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    2887 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
    2887 Richmond Rd Lexington, KY 40509
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