Financial
Distress signals
Property profile

117 W Second St Lexington, KY 40507

FOR LEASE
Office buildings
Property ID
US34-0660720
1,848 SF 0.11 ac lot Built 1920
Last sale Aug 2022 · $450,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 4-yr Hold Held for 4 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

A stand-alone office building in downtown Lexington offering approximately 1,848 square feet. The property is located about one block from the Fayette County courthouses and is arranged for professional use, including a floor plan with two private offices measuring 14 feet by 17 feet, an additional office measuring 8 feet by 10 feet, and a conference room measuring 8 feet by 9 feet. The space includes two restrooms and a full kitchen, and provides one dedicated parking space with the ability to…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$6k
Tax billed · 2023
Assessed value$450k
Effective rate1.24%

Value estimate

· Sep 2026
$615k
$554k – $677k
CAP approach$340k
Submarket $/SF estimate$546k
NOI build-up
Gross scheduled income$33k
Vacancy & credit loss−$6k
Operating expenses−$7k
NOI · 590.20% cap applied$21k

Realmo valuation models over county records and 3 qualifying comparable sales.

Recently sold

What actually traded nearby?
$207/SF
ZIP average, outlier-cleaned · 26 recorded sales of this use type
Observed band · Q1–Q3$148 – $295
Qualifying comparables3

Cap rate analysis

How does the asset earn?
590.20%
$21k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
B-2A
The intent of this zone is to accommodate existing and proposed development in the transitional frame which surrounds the downtown core a...
General categoryCOMMERCIAL
JurisdictionFAYETTE

Location intelligence

Which uses thrive at this corner?
Best fit: Locksmith
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Locksmith9.1
Dry Cleaner8.4
Optical Shop8.1

Location

117 W Second St Lexington, KY 40507
County assessor Recorded deeds · 5 transfers 3 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 16 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
108 High, Lexington, KY 40507-1826 $400,000 Jan 2025 1,960 SF
263 Limestone, Lexington, KY 40507-1026 $300,000 Feb 2024 1,695 SF
173 Limestone, Lexington, KY 40507-1122 $285,000 Jan 2022 2,580 SF
219 High, Lexington, KY 40507-1409 $625,000 Dec 2019 2,626 SF
226 Uppr, Lexington, KY 40507-1017 $120,000 Oct 2019 2,093 SF
146 Deweese, Lexington, KY 40507-1921 $130,000 Sep 2019 1,960 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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