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    1025 Dove Run Rd Lexington, KY 40502

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    1025 Dove Run Rd Lexington, KY 40502

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    • Office buildings
    • 12,608 SF
    • 0.83 lot acres
    For Lease
    $1,560,000
    View Listing →
    Suburban Office Building for Lease For Lease
    $1,560,000
    16,321 SF

    Suburban Office Building for Lease

    Multi-tenant office building with small suites and ample parking.

    1025 Dove Run Rd, Lexington, KY 40502
    View Listing
    Property ID
    US34-0467244
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Capital City Ceramics LLC / Dental Office
    • Hendricks Family and Cosmetic Dentistry PLC / Dental Office
    • Hendricks Don-Michael DDS / Dental Office
    • Hartley Dianna PHD / Medical Clinic / Physician
    • The Randolph Scott Insurance Agency / Insurance Agency

    Property Details for 1025 Dove Run Rd

    Year built
    1975
    Lot size
    0.83 lot acres
    Property size
    12,608 SF
    Zone code
    P-1
    Property type
    Office buildings
    APN
    17014000
    APU
    17014000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,559,000
      Market price range: $1.56M - $3.48M
      AI Estimate
      $1,559,000
      Market price range: $1.56M - $3.48M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,340,000
      Current use
      MEDICAL BUILDING
      $2,595,000
      Change: +11% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,200,000
      Change: -6% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4945
    Latitude
    37.996
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,656
    $0.00
    $0.00
    $700,000
    -
    $0.00
    $0.00
    $700,000

    Comparable in this City

    • Value Estimation
      $1,775,000
      14,349 SF

      313 Owsley Ave, Unit 315

      OFFICE BUILDING • 14,349 SF
      313 Owsley Ave, Lexington, KY 40502-1529
      View Details
    • Value Estimation
      $24,885,000
      201,206 SF

      600 Cooper Dr

      OFFICE BUILDING • 201,206 SF
      600 Cooper Dr, Lexington, KY 40502-1669
      View Details
    • Value Estimation
      $1,870,000
      15,138 SF

      618 Euclid Ave, Unit 622

      OFFICE BUILDING • 15,138 SF
      618 Euclid Ave, Lexington, KY 40502-1738
      View Details
    • Value Estimation
      $895,000
      7,230 SF

      560 Cooper Dr

      OFFICE BUILDING • 7,230 SF
      560 Cooper Dr, Lexington, KY 40502-2279
      View Details
    • Value Estimation
      $550,000
      4,450 SF

      361 Duke Rd

      OFFICE BUILDING • 4,450 SF
      361 Duke Rd, Lexington, KY 40502-2582
      View Details
    • Value Estimation by Request
      2,498 SF

      524 526th E High St

      OFFICE BUILDING • 2,498 SF
      524 526th E High St, Lexington, KY 40502
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Suburban Office Building Near Shopping

      Multi-tenant office building with convenient access and ample parking.
      1025 Dove Run Rd, Lexington, KY 40502
      View Details
    • Contact for pricing
      886 SF

      Move-In Ready Office Suite

      Office suite with open space, convenient location, utilities included.
      1065 Dove Run Rd, Lexington, KY 40502
      View Details
    • $5,100,000

      Luxury Chevy Chase Multifamily Property

      High-end 24-unit property in Lexington's desirable Chevy Chase neighborhood.
      319 Duke Rd, Lexington, KY 40502
      View Details
    • $750,000
      Pending

      Ashland Park Duplex For Sale

      Charming duplex in Ashland Park, Lexington, with hardwood floors.
      110-112 S Hanover Ave, Lexington, KY 40502
      View Details
    • New
      $649,000
      0.91 Acres

      Residential Lot in Lexington, KY

      Residential lot in Lexington near the University of Kentucky.
      3561 Colt Neck Ln, Lexington, KY 40502
      View Details
    • $775,000
      3,149 SF

      Ashland Park Duplex Opportunity

      Charming duplex in Lexington's desirable Ashland Park neighborhood.
      1056-1058 Fontaine Rd, Lexington, KY 40502
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Suburban Office Building for Lease

      Multi-tenant office building with small suites and ample parking.
      1025 Dove Run Rd, Lexington, KY 40502
      View Details
    • $1,750 /Mo
      1,500 SF

      Professional Office Space Near Shoppes

      Well-maintained office property ideal for medical, dental, or professional services.
      1065 Dove Run Rd, Lexington, KY 40502
      View Details
    • $1,250 /Mo
      886 SF

      Lexington Office Space For Rent

      Office space for rent with easy access to amenities.
      1065 Dove Run Rd, Lexington, KY 40502
      View Details
    • Contact for pricing

      Office Space in Chevy Chase

      Well-appointed office space in Lexington's desirable Chevy Chase area.
      836 Euclid Ave, Lexington, KY 40502
      View Details
    • $1,250 /Mo
      886 SF

      Lexington Office Space For Rent

      Office space for rent with easy access to amenities.
      1065 Dove Run Rd, Lexington, KY 40502
      View Details
    • $950 /Mo
      84 SF

      Office Suites in Chevy Chase

      Multi-tenant office building with suites in the heart of Chevy Chase.
      804 Chevy Chase Pl, Lexington, KY 40502
      View Details

    Property Visit Statistics

    • Visits by month
      1.7k
    • Visitors by month
      1.5k
    • Avg Time on site
      12 min
    View Listing
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    Lexington, KY 40502
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    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
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