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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Office buildings
1405 Mercer Rd Lexington, KY 40511-1028
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US34-0460634
Property summary
AI-generated overview
This 6,600 square foot warehouse, situated on a 0.78-acre lot at 1405 Mercer Road in Lexington, Kentucky, presents a compelling investment opportunity. Boasting B-3 zoning, the property offers exceptional versatility for a range of commercial uses. Its strategic location, just off Georgetown Road and New Circle Road, provides unparalleled accessibility to Lexington's downtown and surrounding areas, benefiting from high daily traffic counts exceeding 50,000 vehicles on New Circle Road, 26,000+ on Georgetown Road, and 8,000+ on Mercer Road. The property's ample parking (over 50 spaces) caters to both employees and customers. With a population of over 159,000 within a 5-mile radius and proximity to Bluegrass Airport (15 minutes), this warehouse enjoys a prime location within a thriving commercial corridor. The asking price is $750,000. This property is ideal for businesses seeking high visibility and convenient access to Lexington's bustling commercial landscape and its extensive transportation network. The 40511 zip code further underscores its strategic position within a high-demand area. This is a rare opportunity to acquire a well-positioned warehouse in a high-growth market.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Total area
6,600 SF
Lot
0.73 ac (31,799 SF)
Zoning code
B-3
APN
15691850
UPID
US34-0460634
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
-
Smith Management Group Environmental Consultant Environmental Program
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$816k
Blend (final)
Blend
$725k
Owner & transaction history
Diversified Property Group LLC · 1 yrs held
Diversified Property Group LLC
since 2025
Last sale
$700,000
3 recorded transactions
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
$590,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,150,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $700k (Feb 7 2025)
Last sale anchor
$700k
Feb 7 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
$110 / 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
$4,381
Tax year 2023
Assessed value
$354,300
Assessed 2023
Previous assessed
$354,300
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$354,300
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
1974
Heating
NONE
Cooling
WINDOW A/C
Stories
1
Total area
6,600 SF
Lot
0.73 ac (31,799 SF)
Zoning code
B-3
APN
15691850
UPID
US34-0460634
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
WAREHOUSE, STORAGE
Est. value
$1.2M
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
1974
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
Diversified Property Group LLC
Entity
Mailing address
307 DESHA RD, LEXINGTON, KY 40502-1805
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2025
—
Diversified Property Group LLC
—
Deed
related
$50,000 · First National Bank Russell Springs
Feb 7, 2025
$700,000
Diversified Property Group LLC
Cooper Mercer LLC
Special Warranty Deed
$560,000 · First National Bank Russell Springs
Jan 23, 2019
$450,000
Cooper Mercer LLC
Sara G Smith
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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