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Property profile & analytics
OFF-MARKET
Estimated value
$1,750,000
Medical Office Space
217 Elm Tree Ln Lexington, KY 40507-2117
Individually Owned
16-yr Hold
Free & Clear
Property ID
US34-0357822
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Total area
9,519 SF
Lot
0.75 ac (32,700 SF)
Zoning code
B-2A
APN
15625900
UPID
US34-0357822
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
-
UK Polk-Dalton Clinic Medical Clinic
-
Iser Alison MD Pediatrician Physician
-
Dr. Krista D. Preston, MD Physician
-
Dr. Jorge A. Rodriguez, MD Physician
-
John J. Stewart, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.75M
Owner & transaction history
University Of Ky Hospital · 16 yrs held
University Of Ky Hospital
since 2010
2 recorded transactions
Zoning & alternative use
B-2A · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
(c) In the Downtown Business Frame (B-2A) zone, where at least fifty (50%) percent of dwelling units of a lot are being provided at an affordable level, developments shall be granted an affordable housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations per the Downtown Business (B-2) zone. Affordable level shall mean eighty (80%)…
Zone name
Downtown Frame Business
General category
COMMERCIAL
Zone area
106.94 ac
Top alternative use upside
Commercial (general)
$2.1M
+7.9%
Apartment house (5+ units)
$2.1M
+7.4%
Office building
$2.0M
+0.7%
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
MEDICAL BUILDING
$1,960,000
Current use
COMMERCIAL (GENERAL)
$2,110,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,100,000
Change: +7% · Conversion: Moderate
OFFICE BUILDING
$1,970,000
Change: +1% · Conversion: Easy
RETAIL STORES
$1,850,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,660,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.75M
Range $1.58M – $1.93M · ±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
$184 / 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
$1,223,200
Assessed 2023
Previous assessed
$1,223,200
+0.0% YoY
Total market value
$1,223,200
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
2000
Heating
NONE
Cooling
CENTRAL
Stories
1
Units
1
Total area
9,519 SF
Lot
0.75 ac (32,700 SF)
Zoning code
B-2A
APN
15625900
UPID
US34-0357822
Jurisdiction
FAYETTE
Zoning & alternative use
B-2A · Lexington, KYZoning B-2A · permitted uses
B-2A · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
(c) In the Downtown Business Frame (B-2A) zone, where at least fifty (50%) percent of dwelling units of a lot are being provided at an affordable level, developments shall be granted an affordable housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations per the Downtown Business (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 expenses, including utilities, shall constitute no more than forty (40%) of monthly household income. (d) Workforce housing units that meet the following requirements shall be granted a workforce housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations: (1) Workforce housing dwelling units shall be provided at one hundred twenty (120%) percent or less of the Lexington-Fayette Urban County area median income (AMI), at the time of rental or purchase. (2) The project shall be restricted for a period of no less than fifteen (15) years. (3) Projects shall be regulated under the provisions as noted below:
Zone name
Downtown Frame Business
General category
COMMERCIAL
Zone area
106.94 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.7M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
2000
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
University Of Ky Hospital
Individual
Free & Clear · 16 yrs held
Mailing address
301 MAIN BLDG, LEXINGTON, KY 40507-1548
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2010
—
University Of Ky Hospital
Carol Shaver Trust Moses
Deed
—
May 28, 2010
$1,337,800
Carol L Trust Shaver
Elm Tree Med Ctr 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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