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Property profile & analytics
OFF-MARKET
Estimated value
$2,215,000
Strip malls
125 Codell Dr Lexington, KY 40509-1183
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US34-0579258
Property summary
AI-generated overview
This exceptional retail/office space, located within the Richmond Woods Shopping Center at 125 Codell Drive in Lexington, Kentucky, presents a fantastic opportunity for businesses seeking a high-visibility location. The property boasts a total building size of 16,840 square feet, with a single available unit of 1,690 square feet. This space is ideal for a variety of uses, offering flexibility and ample room for operations. Situated on a 1.82-acre lot, the center enjoys excellent visibility and accessibility, benefiting from its convenient location just off Richmond Road and directly across from a Lowe's home improvement store. The property is in Fayette County, Kentucky, and has a zip code of 40509. The minimum divisible space is 1,690 square feet, and the maximum contiguous space available is also 1,690 square feet. This presents a unique opportunity for a business seeking a well-located, readily available space in a thriving commercial area. The property's strategic placement ensures high foot traffic and easy access for customers and employees alike. This is a multiple-tenancy building, offering a vibrant and collaborative environment. Don't miss this chance to establish your business in a prime Lexington location. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Total area
6,490 SF
Lot
1.88 ac (81,762 SF)
Zoning code
B-3
APN
38093530
UPID
US34-0579258
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Michikusa Japanese Restaurant Restaurant
-
Josephine's Post Mastectomy Orthotics & Prosthetics Service
-
Reeca L. Prater, LPN Alternative Medicine Practice Spa & Massage Center
-
African Food Market Limited Grocery & Convenience Store Food Market
-
Ziyan Salon & Holistic Day Spa Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.22M
Owner & transaction history
Kkst Properties LLC · 4 yrs held
Kkst Properties LLC
since 2022
Last sale
$2.2M
1 recorded transaction
Zoning & alternative use
B-3 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,015,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,570,000
6.5%
$1,450,000
7%
$1,350,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,345,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,120,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,335,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $1.99M – $2.44M · ±10% · vs last sale $2.20M (Jan 3 2022)
Last sale anchor
$2.20M
Jan 3 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$341 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$27,205
Tax year 2023
Assessed value
$2,200,000
Assessed 2023
Previous assessed
$2,200,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$2,200,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Heating
NONE
Cooling
WINDOW A/C
Buildings
2
Stories
1
Units
1
Total area
6,490 SF
Lot
1.88 ac (81,762 SF)
Zoning code
B-3
APN
38093530
UPID
US34-0579258
Jurisdiction
FAYETTE
Zoning & alternative use
B-3 · Lexington, KY
Zoning B-3 · permitted uses
B-3 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.3M
RESTAURANT
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
1.88 ac
Current owner
From public records · entity-resolved
Kkst Properties LLC
Entity
Mailing address
415 REBMANN LN, LEXINGTON, KY 40504-1163
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2022
$2,200,000
Kkst Properties LLC
Todds Road Partners LLC
Deed
$1,650,000 · Bank Of Lexington
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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