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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Medical Office Space
1701 Nicholasville Rd Lexington, KY 40503-1458
Individually Owned
5-yr Hold
Free & Clear
Property ID
US34-0454746
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1925
Total area
6,080 SF
Lot
0.56 ac (24,394 SF)
Zoning code
R-1C
APN
13886330
UPID
US34-0454746
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
-
Butcher Julie A Law Firm
-
Physicians Eye Center Ophthalmologist
-
Lexington Urgent Care - Nicholasville Road Medical Clinic
-
Lara Hager Physician
-
Meagan Obst Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.27M
Owner & transaction history
Lexington Urgent Care PLLC · 5 yrs held
Lexington Urgent Care PLLC
since 2021
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
R-1C · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+58.7%
Commercial (general)
$1.4M
+7.9%
Apartment house (5+ units)
$1.3M
+7.4%
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
$1,425,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,055,000
7%
$980,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,250,000
Current use
RESTAURANT
$1,985,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,350,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,345,000
Change: +7% · Conversion: Moderate
RETAIL STORES
$1,180,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,060,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.05M (Apr 19 2021)
Last sale anchor
$1.05M
Apr 19 2021
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
$208 / 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
$12,984
Tax year 2023
Assessed value
$1,050,000
Assessed 2023
Previous assessed
$1,050,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$1,050,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1925
Heating
NONE
Cooling
WINDOW A/C
Stories
2
Total area
6,080 SF
Lot
0.56 ac (24,394 SF)
Zoning code
R-1C
APN
13886330
UPID
US34-0454746
Jurisdiction
FAYETTE
Zoning & alternative use
R-1C · Lexington, KY
Zoning R-1C · permitted uses
R-1C · 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
MEDICAL BUILDING Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1925
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.56 ac
Current owner
From public records · entity-resolved
Lexington Urgent Care PLLC
Individual
Free & Clear · 5 yrs held
Mailing address
133 PLZ DR #374, BEREA, KY 40403-2087
Ownership since
2021
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
Apr 19, 2021
$1,050,000
Lexington Urgent Care PLLC
1701 Nicholasville Rd 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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