Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Neighborhood Center Near Ballpark Title is generated by Realmo AI

    208 Legends Ln, Lexington, KY 40505

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail leasing opportunities near high-traffic ballpark and grocery anchor.

    Type:Retail
    Property size:
    70,217 SF
    Added:
    Apr 8, 2025
    Days on Market:
    422
    Last Refresh:
    May 19 at 8:57 pm

    Property Features for 208 Legends Ln

    General Information

    Standard status
    Active
    Size
    70,217 SF
    Property subtype
    Retail

    Spaces For Lease

    at 208 Legends Ln Contact us

    We can help!

    Listing Contact
    Jamie Adams, SIOR, CCIM
    Jamie Adams, SIOR, CCIM

    Listing agent Jamie Adams, SIOR, CCIM License #KY 72334

    Listing office NAI Isaac

    Listing date Apr 8, 2025

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Isaac

    HighLights

    • Anchored by high‑volume Save‑A‑Lot Grocery and Dollar General.
    • Adjacent to Wild Health Field Ballpark, which seats 9,000‑15,000.
    • Located at Legends Lane and North Broadway.
    • High average daily traffic count (+/-15,447).
    • Part of Northland Shopping Center (+/-70,217 sf).
    • Ample parking.

    Overview

    This property offers leasing opportunities in a neighborhood shopping center. The center has a total area of approximately 70,217 square feet. It is anchored by a Save-A-Lot Grocery store and Dollar General. The location is adjacent to Wild Health Field Ballpark, which can seat 9,000 fans and up to 15,000 for events. The Lexington Legends, a Single A Minor League Baseball team, play at this field. The property is located at Legends Lane and North Broadway. The average daily traffic count near the site is approximately 15,447 ('19). Ample parking is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Boost Mobile Mobile Phone Store H&R Block Tax Preparation Lady Byrd's Hair ... Hair Salon Advanced Injury Rehab ... Medical Clinic Injury-Care Center: MDs ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • North Park Marketplace — 500 W New Cir Rd, Lexington, KY 40511
    • Coin Cloud Bitcoin ATM — 802 N Broadway, Lexington, KY 40508
    • Coin Cloud Bitcoin ATM — 435 NW New Circle Rd, Lexington, KY 40511, United States
    • Northland Shopping Center — 208 Legends Ln Suite 130, Lexington, KY 40505
    • Greyline Station — 101 W Loudon Ave, Lexington, KY 40508

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.479704
    Latitude
    38.064073

    Nearby Similar for Lease

    • $750/Mo
      300 SF

      Lexington Retail/Office Space For Rent

      300 sq ft flexible space near downtown Lexington.
      520 Booker Street, Lexington, KY 40508
      View Details
    • $600/Mo
      241 SF

      Lexington Office Space Available

      Multi-tenant office building with small office units for rent.
      1055 Dove Run Road, Lexington, KY 40502
      View Details
    • $400/Mo
      18,700 SF

      Flexible Office Space in Lexington

      Adaptable office solutions with utilities and internet included.
      2333 Alexandria Drive, Lexington, KY 40504
      View Details
    • $120,000 SF/Yr
      2,588 SF

      Freestanding Retail Building For Lease

      Freestanding retail building with high visibility and easy accessibility.
      1498 Boardwalk, Lexington, KY 40511
      View Details
    • $3 SF/Yr
      30,431 SF

      Forbes Business Center Storage Warehouses

      Storage warehouses and renovated offices for lease in Lexington, KY.
      255 S Forbes Road, Lexington, KY 40504
      View Details
    • $21 SF/Yr
      12,325 SF

      Retail Space in Lexington, KY

      Retail space for lease in a high-traffic Lexington location.
      120 W Tiverton Way, Lexington, KY 40503
      View Details
    • $14 SF/Yr
      1,802 SF

      Lexington Office/Lab Space Available

      Adaptable 1,802 SF office/lab space for lease.
      1509 Bull Lea Road, Lexington, KY 40511
      View Details
    • $19 SF/Yr
      4,105 SF

      Hamburg Office Space For Lease

      4,105 SF Lexington office space near Hamburg Pavilion.
      2720 Old Rosebud Road, Lexington, KY 40509
      View Details
    • $21 SF/Yr
      2,691 SF

      Class A Office Building Suite

      Renovated office suite with storage in Lexington, Kentucky.
      2312 Alexandria Drive, Lexington, KY 40504
      View Details
    • $9 SF/Yr
      12,400 SF

      Flexible Commercial Space in Lexington

      Versatile 12,400 sq ft space near Nicholasville Road.
      183 Moore Drive, Lexington, KY 40503
      View Details
    • $8 SF/Yr
      2,500 SF

      Lexington Industrial Flex Space Available

      Industrial flex space with office and warehouse components for lease.
      1113 Commercial Drive, Lexington, KY 40505
      View Details
    • $750/Mo
      105 SF

      Office Space in Lexington Business Center

      Small office spaces available in Lexington's Wellington/Southwest corridor.
      444 Lewis Hargett Circle, Lexington, KY 40503
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail leasing opportunities near high-traffic ballpark and grocery anchor.
    Where is this shopping center located?
    The property is located at 208 Legends Ln Lexington, KY.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Anchored by high‑volume Save‑A‑Lot Grocery and Dollar General.; Adjacent to Wild Health Field Ballpark, which seats 9,000‑15,000.; Located at Legends Lane and North Broadway.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jamie Adams, SIOR, CCIM
    Jamie Adams, SIOR, CCIM
    Real Estate License ID: KY 72334
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    208 Legends Ln, Lexington, KY 40505
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!