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Property profile & analytics
OFF-MARKET
Estimated value
$1,895,000
Retail space
2191 Nicholasville Rd Lexington, KY 40503-2501
Entity Owned
2-yr Hold
Free & Clear
Property ID
US34-0473869
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1976
Total area
15,000 SF
Lot
0.67 ac (29,185 SF)
Zoning code
B-1
APN
11075553
UPID
US34-0473869
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$1.90M
Owner & transaction history
Goodwill Industries Of Kentucky INC · 2 yrs held
Goodwill Industries Of Kentucky INC
since 2023
Last sale
$1.3M
1 recorded transaction
Zoning & alternative use
B-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.1M
+5.8%
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
$1,890,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,915,000
Current use
MEDICAL BUILDING
$3,085,000
Change: +6% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,620,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.08M · ±10% · vs last sale $1.30M (Nov 20 2023)
Last sale anchor
$1.30M
Nov 20 2023
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
$126 / 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
$17,065
Tax year 2023
Assessed value
$1,380,000
Assessed 2023
Previous assessed
$1,136,800
+21.4% YoY
Effective rate
1.24%
On assessed value
Total market value
$1,380,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1976
Heating
YES
Cooling
WINDOW A/C
Stories
1
Total area
15,000 SF
Lot
0.67 ac (29,185 SF)
Zoning code
B-1
APN
11075553
UPID
US34-0473869
Jurisdiction
FAYETTE
Zoning & alternative use
B-1 · Lexington, KY
Zoning B-1 · permitted uses
B-1 · 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
RETAIL STORES Current
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.6M
RETAIL STORES Current
MEDICAL BUILDING
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
1976
Heating
YES
Cooling
Yes
Stories
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Goodwill Industries Of Kentucky INC
Entity
Free & Clear · 2 yrs held
Mailing address
1325 S 4TH ST, LOUISVILLE, KY 40208-2313
Ownership since
2023
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
Nov 20, 2023
$1,300,000
Goodwill Industries Of Kentucky INC
Chenault Interests Ltd
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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