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    Property profile & analytics

    1950 Nicholasville Rd Lexington, KY 40503-2025

    • Office buildings
    • 2,551 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimation
    $610,000
    Last Sale
    Mar 04, 2025
    $675,000
    Location Intelligence
    Property ID
    US34-0626648
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1950 Nicholasville Rd

    Year built
    1947
    Lot size
    0.90 lot acres
    Property size
    2,551 SF
    Zone code
    P-1
    Property type
    Office buildings
    APN
    11852200
    APU
    11852200

    Description

    This exceptional Lexington, KY property at 1950 Nicholasville Road offers a unique opportunity for investors and businesses alike. Currently zoned P-1, the site encompasses a 4,126 square foot building suitable for various uses, including traditional, creative, or medical office space. The existing structure features 2,500 square feet on the main level and an additional 1,575 square feet of basement space. The property is available for sale at $895,000. Alternatively, a ground lease is available, presenting an exciting prospect for build-to-suit development. Concept plans are available for review, showcasing the redevelopment potential of this strategically located site. The single-tenancy building presents a streamlined ownership experience, ideal for owner-occupiers or investors seeking a stable, high-value asset in a thriving Kentucky market. The property's address is 1950 Nicholasville Rd, Lexington, KY 40503. This versatile property is perfectly positioned to capitalize on Lexington's robust commercial real estate market. Don't miss this chance to acquire a prime piece of Lexington real estate.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $570,000

    • CAP approach

      CAP return
      Estimation
      6%
      $640,000
      6.5%
      $625,000
      7%
      $690,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $600,000
      Geo Method
      $670,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $630,000
      Retail
      $705,000
      Mixed-Use
      $595,000
      Hospitality
      $685,000
      Educational
      $705,000
      Residential Income
      $700,000
      Energy
      $665,000
      Income-Based Land
      $695,000
      Food Service
      $730,000

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5158
    Latitude
    38.012
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,191
    $0.00
    $0.00
    $581,500
    -
    $0.00
    $0.00
    $581,500

    Comparable in this City

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      OFFICE BUILDING • 1,814 SF
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      437 Lewis Hargett Cir Ste, Unit 160

      OFFICE BUILDING • 1,056 SF
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    • Value Estimation by Request
      5,088 SF

      110 112th E Lowry Ln

      OFFICE BUILDING • 5,088 SF
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    1950 Nicholasville Rd
    Lexington, KY 40503-2025
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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