Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2216 Young Dr Lexington, KY 40505-4220

    • Office buildings
    • 14,752 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2021
    $790,500
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0453298
    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

    • Orthopaedic Specialties of Lexington / Orthotics & Prosthetics Service
    • Cummins Consulting Services, LLC / Engineering Consultant
    • Consolidated Graphic Communications / Promotional Products Supplier / Business To Business Service
    • Answer One Inc / Telecommunications Service / Business Service Center
    • Wired Innovation / Advertising Agency / Marketing & Advertising

    Property Details for 2216 Young Dr

    Year built
    1969
    Lot size
    0.87 lot acres
    Property size
    14,752 SF
    Zone code
    P-1
    Property type
    Office buildings
    APN
    15183000
    APU
    15183000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,070,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,274,000
      Market price range: $1.27M - $3.25M
      AI Estimate
      $1,274,000
      Market price range: $1.27M - $3.25M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4565
    Latitude
    38.0254
    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
    $9,775
    $0.00
    $0.00
    $790,500
    -
    $0.00
    $0.00
    $790,500

    Comparable in this City

    • Value Estimation by Request
      978 SF

      1081 New Cir Rd

      OFFICE BUILDING • 978 SF
      1081 New Cir Rd, Lexington, KY 40505-4130
      View Details
    • Value Estimation by Request
      4,315 SF

      753 7th St

      OFFICE BUILDING • 4,315 SF
      753 7th St, Lexington, KY 40505-3734
      View Details
    • Value Estimation by Request
      1,156 SF

      1365 Pridemore Ct

      OFFICE BUILDING • 1,156 SF
      1365 Pridemore Ct, Lexington, KY 40505-4118
      View Details
    • Value Estimation
      $3,475,000
      40,200 SF

      2041 Creative Dr

      OFFICE BUILDING • 40,200 SF
      2041 Creative Dr, Lexington, KY 40505-4261
      View Details
    • Value Estimation by Request
      2,464 SF

      1090 Eastland Dr

      OFFICE BUILDING • 2,464 SF
      1090 Eastland Dr, Lexington, KY 40505-3802
      View Details
    • Value Estimation by Request
      1,417 SF

      1206 Broadway

      OFFICE BUILDING • 1,417 SF
      1206 Broadway, Lexington, KY 40505-3202
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Eastern Fayette County Office Building

      Four-story office building in Eastern Fayette County near Hamburg Place.
      2285 Executive Dr, Lexington, KY 40505
      View Details
    • Contact for pricing

      Mixed-Use Development on 19.71 Acres

      Five-building mixed-use development with office, retail, flex, and warehouse space.
      1300 New Circle Rd, Lexington, KY 40505
      View Details
    • Contact for pricing

      Versatile Office and Warehouse Facility

      21,285 SF Lexington office/warehouse with renovated offices and climate control.
      330 Midland Pl, Lexington, KY 40505
      View Details
    • Contact for pricing

      Renovated Office and Warehouse Facility

      21,285 SF Lexington office and warehouse sublease opportunity.
      330 Midland Pl, Lexington, KY 40505
      View Details
    • Contact for pricing

      Lexington Industrial Facility For Sale

      27,940 SF industrial facility with flexible layout in Lexington, KY.
      1115 Delaware Ave, Lexington, KY 40505
      View Details
    • $2,600,000
      32,608 SF

      Versatile Lexington Showroom/Office Opportunity

      32,000 SF showroom with retail and office potential.
      764 E Seventh St, Lexington, KY 40505
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,894 SF

      Mixed-Use Space in Lexington, KY

      Mixed-use property with office and retail space available for rent.
      1021 N Limestone, Lexington, KY 40505
      View Details
    • $8 SF/Yr
      2,500 SF

      Industrial Flex Space For Lease

      Flex units with warehouse space, convenient location, and drive-in doors.
      1113 Commercial Dr, Lexington, KY 40505
      View Details
    • $1,450 /Mo
      1,000 SF

      Lexington Office Condo For Lease

      1,000 SF office condo in Hamburg area available for lease.
      2220 Executive Dr, Lexington, KY 40505
      View Details
    • $1,300 /Mo
      1,000 SF

      Hamburg Area Office Condo

      Second-floor office condo in Lexington's Hamburg area for lease.
      2220 Executive Dr, Lexington, KY 40505
      View Details
    • Contact for pricing
      309,135 SF

      Lexington Business Center: Prime Flex Space

      15,263 SF Flex/Warehouse Available
      1300 New Circle Rd, Lexington, KY 40505
      View Details
    • $22 SF/Yr
      40,690 SF

      Lexington Office, Lab, Flex Space

      Modern office, lab, and flex space in Hamburg Business District.
      2277 Thunderstick Dr, Lexington, KY 40505
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2216 Young Dr
    Lexington, KY 40505-4220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!