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161 N Limestone Lexington, KY 40507

Office buildings Google Maps
4,874 SF 0.05 ac lot Built 1930
Entity Owned 7-yr Hold Free & Clear
Estimated value (blended)
$840k
Range $756k – $924k (±10%)
Property ID US34-0658651

Property summary

AI-generated overview

This Class A, three-story building (7,500 total square feet) at 161 N Limestone in Lexington, KY, offers executive suites and coworking spaces for lease. Completely renovated in 2020, this historic 1930 building boasts exposed brick, high ceilings, and abundant natural light. Individual suites range from 144 to 176 square feet, with a total of 495 square feet currently vacant. The third floor, where the suites are located, features hardwood floors, a kitchenette, and two exclusive restrooms for tenants. Elevator access is provided. The building sits on a 0.15-acre lot and is zoned B-2 Downtown Business (APN: 10940300). Its central downtown location offers easy access to retail, apartments, other offices, and the Fayette County Courthouse (directly across the street). Multiple nearby parking options are available, including street parking, lots, and garages, with average rates of $2.50/hour and $93/month. This property presents a unique opportunity to establish a presence in the vibrant heart of Lexington. The building also features Georgie's, a new cocktail bar, on the ground floor.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1930
Total area 4,874 SF
Lot 0.05 ac (2,252 SF)
Zoning code B-2
APN 10940300
UPID US34-0658651

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Photography Service (Bike/Boat/Book/etc) Store
  • Bar & Pub Nightclub
  • Cultural Landmark

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.44M
Blend (final) Blend
$840k

Owner & transaction history

since 2018
2 recorded transactions
2019
Price N/A
2018
$790,000

Zoning & alternative use

B-2 · Lexington, KY
Zoning description

B-2) zone. Affordable level shall mean eighty (80%) or less of the Lexington-Fayette Urban County area median income (AMI) at the time of rental or purchase, for a period of no less than ten (10) years, and where housing…

General category MIXED_USE
Top alternative use upside
Auto repair, garage $1.8M +76.4%
Commercial (general) $1.1M +7.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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