2430 Palumbo Dr Lexington, KY 40509
- Retail space
- 19,320 SF
- 1.03 lot acres
Current Use by Public Records
- Coleman Smith Inc / Hvac Contractor / Heating Contractor
- The Art of Soccer / Soccer Practice
- Fusion Systems / Security System Installer / Fiber Optic Products Supplier
Property Details for 2430 Palumbo Dr
- Year built
- 1975
- Lot size
- 1.03 lot acres
- Property size
- 19,320 SF
- Zone code
- I-1
- Property type
- Retail space
- APN
- 10478590
- APU
- 10478590
Description
This exceptional 8,791 square foot flex/industrial unit, situated within a larger 26,015 square foot building, presents a unique investment opportunity in Lexington, KY. Located at 2430 Palumbo Drive, Unit 110, this property boasts a prime location between New Circle Road and Man O' War Boulevard, offering easy access to I-75/I-64. The building, constructed in 1975 and renovated in 2013, is a concrete block structure situated on 1.03 acres and zoned I-1 (Light Industrial). The unit itself includes 3,055 square feet of climate-controlled office space, featuring four private offices, an open office area, a break room, and two restrooms. The remaining 5,736 square feet comprises climate-controlled warehouse space, serviced by two 10' x 12' drive-in doors. Building amenities include 16' clear height ceilings, fluorescent/LED lighting, 3-phase electric, and suspended gas heat in the warehouse area. Approximately 40 parking spaces are available, and building signage is offered to tenants. Operating expenses are below market rates. This high-demand flex unit represents a compelling opportunity for businesses seeking a versatile and strategically located space. The property's size, features, and location make it ideal for a variety of industrial and commercial uses.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,370,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,655,000
- 6.5%
- $1,715,000
- 7%
- $1,745,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,860,000
- Geo Method
- $1,470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,900,000
- Retail
- $1,525,000
- Mixed-Use
- $1,905,000
- Hospitality
- $1,415,000
- Educational
- $1,505,000
- Residential Income
- $1,825,000
- Energy
- $1,715,000
- Income-Based Land
- $1,635,000
- Food Service
- $1,870,000
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.4483
- Latitude
- 38.0193
- CBSA code
- 30460
- CBSA name
- LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
