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Property profile & analytics
OFF-MARKET
Estimated value
$15,045,000
Office buildings
1490 Bull Lea Rd Lexington, KY 40511-1264
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US34-0725852
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2013
Total area
54,525 SF
Lot
25.89 ac (1,127,768 SF)
Zoning code
P-2
APN
38250850
UPID
US34-0725852
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
-
University of Kentucky Veterinary Diagnostic Laboratory Academic Department University
-
University of Kentucky Mini Barn University
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.04M
Blend (final)
Blend
$15.05M
Owner & transaction history
Kenneth B Boll · 9 yrs held
Kenneth B Boll
since 2016
1 recorded transaction
Zoning & alternative use
P-2 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$19.9M
+96.9%
Restaurant
$17.8M
+75.8%
Commercial (general)
$12.1M
+19.6%
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
$10,120,000
Current use
AUTO REPAIR, GARAGE
$19,930,000
Change: +97% · Conversion: Difficult
RESTAURANT
$17,790,000
Change: +76% · Conversion: Moderate
COMMERCIAL (GENERAL)
$12,100,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,040,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$11,215,000
Change: +11% · Conversion: Easy
RETAIL STORES
$10,595,000
Change: +5% · Conversion: Moderate
WAREHOUSE, STORAGE
$9,515,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$15.05M
Range $13.54M – $16.55M · ±10%
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
$276 / 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
Assessed value
$22,500,000
Assessed 2023
Previous assessed
$22,500,000
+0.0% YoY
Total market value
$22,500,000
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
2013
Heating
NONE
Total area
54,525 SF
Lot
25.89 ac (1,127,768 SF)
Zoning code
P-2
APN
38250850
UPID
US34-0725852
Jurisdiction
FAYETTE
Zoning & alternative use
P-2 · Lexington, KY
Zoning P-2 · permitted uses
P-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
$10.1M
AUTO REPAIR, GARAGE
Est. value
$19.9M
RESTAURANT
Est. value
$17.8M
COMMERCIAL (GENERAL)
Est. value
$12.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.0M
MEDICAL BUILDING
Est. value
$11.2M
RETAIL STORES
Est. value
$10.6M
WAREHOUSE, STORAGE
Est. value
$9.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
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
2013
Heating
NONE
Lot
25.89 ac
Current owner
From public records · entity-resolved
Kenneth B Boll
Individual
Mailing address
301 MAIN BLDG, LEXINGTON, KY 40507-1548
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Dec 12, 2016
—
Kenneth B Boll
—
Deed
related
$71,500 · University Of Ky Fed Cr Un
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.
Try Rey
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