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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Office buildings
1256 Manchester St, Lexington, KY 40504-1129
Entity Owned
Free & Clear
Property ID
US34-0435344
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
8,127 SF
Lot
1.07 ac (46,653 SF)
Zoning code
I-2
APN
10044100
UPID
US34-0435344
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
-
EagleWatchGolf Golf Course
-
Double Barrel Honey, LLC Big Box & Wholesale Store Food Market
-
Pine Mountain Lumber LLC Big Box & Wholesale Store Building Supply
-
East Kentucky Investment Co Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.14M
Owner & transaction history
Forbes Land LLC
Forbes Land LLC
since 2025
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
I-2 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+33.3%
Apartment house (5+ units)
$1.8M
+32.7%
Medical building
$1.7M
+23.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,355,000
Current use
COMMERCIAL (GENERAL)
$1,805,000
Change: +33% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,795,000
Change: +33% · Conversion: Easy
MEDICAL BUILDING
$1,670,000
Change: +24% · Conversion: Easy
RETAIL STORES
$1,580,000
Change: +17% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,420,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10% · vs last sale $1.10M (Jun 3 2025)
Last sale anchor
$1.10M
Jun 3 2025
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
$140 / 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
$10,758
Tax year 2023
Assessed value
$870,000
Assessed 2023
Previous assessed
$870,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$870,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1986
Heating
NONE
Stories
1
Total area
8,127 SF
Lot
1.07 ac (46,653 SF)
Zoning code
I-2
APN
10044100
UPID
US34-0435344
Jurisdiction
FAYETTE
Zoning & alternative use
I-2 · Lexington, KY
Zoning I-2 · permitted uses
I-2 · 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
OFFICE BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1986
Heating
NONE
Stories
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Forbes Land LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1256 MANCHESTER ST, LEXINGTON, KY 40504-1129
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2025
$1,100,000
Forbes Land LLC
The Eloise Williams Sturgill Trust
Warranty Deed
—
Sep 20, 2018
$335,000
Mary Bartrustam Sturgil Trust Hart
Mary Bartrustam Sturgil Trust Hart
Deed
related
—
Dec 27, 2017
—
Sturgill Inv Ltd
—
Deed
related
$730,000 · Hartley, Mary Bartram Tr
Jul 11, 2016
$30,000
Peppermill LLC
Sturgill Inv Ltd
Deed
—
Jun 2, 2014
$900,000
Sturgill Inv Ltd
Eloise Williams Sturgill Tr
Deed
—
Apr 24, 2014
$700,000
Richard A Trust Sturgill
Eloise Williams Est Sturgill
Deed
—
Apr 12, 2012
$16,000
William B Exc Sturgill
Central Rock Acquisition Co LLC
Deed
—
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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