Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2061 Lexington Rd Nicholasville, KY 40356
    Back to Search
    Property profile & analytics

    2061 Lexington Rd Nicholasville, KY 40356

    View on Map
    • Commercial real estate
    • 37,500 SF
    • 4.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kentucky Baseball Club / Gym & Fitness Center / Sports School
    • Champions Lexington LLC / Gym & Fitness Center / Sports Field & Court
    • ATM / Atm

    Property Details for 2061 Lexington Rd

    Year built
    1980
    Lot size
    4.50 lot acres
    Property size
    37,500 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property presents a rare opportunity for end-users seeking a highly visible location with significant development potential. Situated on US 27 in Nicholasville, Kentucky, the property boasts a substantial 37,500 square foot building situated on a generous 4.5-acre lot. The building features a free-span design, offering maximum flexibility for a variety of commercial uses. Its prime location on a major thoroughfare ensures high traffic volume and excellent visibility, making it ideal for businesses seeking maximum exposure. The property is zoned B-1, allowing for a wide range of commercial development options. This presents a unique chance to establish a thriving business in a strategic location with ample space for expansion or customization. The asking price of $3,300,000 reflects the significant value and potential of this exceptional commercial property. Serious inquiries are encouraged to explore the possibilities this property offers. The expansive acreage and strategic location combine to create an unparalleled opportunity for growth and success. Don't miss this chance to acquire a premier commercial property in a thriving Kentucky market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.5591
    Latitude
    37.9147

    Comparable in this City

    • Value Estimation by Request
      36.00 Acres

      Nicholasville Byp

      Land • 36.00 Acres
      0 Nicholasville Byp, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      15.37 Acres

      2270 Main Street Ext

      Commercial real estate • 15.37 Acres
      2270 Main Street Ext, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      52.25 Acres

      2310 Lexington Rd

      Land • 52.25 Acres
      2310 Lexington Rd, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      7,500 SF

      511 Brannon Rd

      Restaurants • 7,500 SF
      511 Brannon Rd, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      11,708 SF

      802 Brannon Rd

      Individual retail properties • 11,708 SF
      802 Brannon Rd, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      7.75 Acres

      3079 Lexington Rd

      Commercial real estate • 7.75 Acres
      3079 Lexington Rd, Nicholasville, KY 40356
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,800 SF

      Nicholasville Flex Space For Lease

      Efficient Office & Warehouse Space Available
      535 Brannon Rd, Nicholasville, KY 40356
      View Details
    • $1,250,000
      0.33 Acres

      Prime Nicholasville Commercial Property

      Established Convenience Store, Owner Financing Available
      740 Richmond Ave, Nicholasville, KY 40356
      View Details
    • $2,650,000
      5.40 Acres

      Nicholasville Commercial Land Investment

      High-visibility 5.4-acre parcel near new Wawa.
      3012 Lexington Rd, Nicholasville, KY 40356
      View Details
    • Contact for pricing

      Nicholasville Warehouse/Flex Space Available

      7,000 SF warehouse with 3,500 SF office/storage space.
      133 Macarthur Ct, Nicholasville, KY 40356
      View Details
    • $155,000
      Pending

      Nicholasville Land for Sale

      1+ acre residential lot in Watkins Reserve development.
      Crawford Creek Dr, Nicholasville, KY 40356
      View Details
    • $65,900
      Pending

      Residential Land in Established Community

      Building lots in established community with city utilities and builder options.
      100 Bugler Ct, Nicholasville, KY 40356
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,755 SF

      Retail Space in Nicholasville

      Retail space available for lease in Nicholasville, Kentucky.
      981 South Main St, Nicholasville, KY 40356
      View Details
    • $5 SF/Yr
      196,119 SF

      Nicholasville Commercial Property for Lease

      Available space: 29,000 - 196,000 SF in Nicholasville, KY.
      500 Memorial Dr, Nicholasville, KY 40356
      View Details
    • $7 SF/Yr
      42,750 SF

      Nicholasville Industrial Building For Lease

      Well-maintained 42,750 SF industrial building in Nicholasville, KY.
      1300 John C Watts Dr, Nicholasville, KY 40356
      View Details
    • $9 SF/Yr
      25,632 SF

      Nicholasville Flex Office Building

      25,632 SF flex building for lease or sale.
      1014 S Main St, Nicholasville, KY 40356
      View Details
    • $9 SF/Yr
      12,114 SF

      Nicholasville Flex Space For Lease

      Flexible industrial/flex space suitable for various business needs.
      107-109 Means Dr, Nicholasville, KY 40356
      View Details
    • Contact for pricing

      Land Available Near Drake's

      Two commercial lots for rent next to Drake's.
      380 E Brannon Rd, Nicholasville, KY 40356
      View Details
    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.
    2061 Lexington Rd
    Nicholasville, KY 40356
    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
    2061 Lexington Rd, Nicholasville, KY, 40356
    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!