Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2296 Executive Dr Lexington, KY 40505-4820
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2296 Executive Dr Lexington, KY 40505-4820

    View on Map
    • Retail space
    • 14,510 SF
    • 1.68 lot acres
    Off-Market
    Property ID
    US34-0599171
    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.
    Value Estimations
    $3,080,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Amazon Locker - Gijs / Courier Service / Postal Service
    • Cary White / Pharmacy
    • Dollar Tree / Discount Store
    • Western Union / Bank / Credit Union
    • Walgreens / Medical Clinic

    Property Details for 2296 Executive Dr

    Year built
    2008
    Lot size
    1.68 lot acres
    Property size
    14,510 SF
    Zone code
    B-3
    Property type
    Retail space
    APN
    38219300
    APU
    38219300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,077,000
      Market price range: $1.33M - $3.08M
      AI Estimate
      $3,077,000
      Market price range: $1.33M - $3.08M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,050,000
      Current use
      RESTAURANT
      $4,735,000
      Change: +131% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,220,000
      Change: +57% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,205,000
      Change: +56% Conversion: Difficult
      MEDICAL BUILDING
      $2,985,000
      Change: +46% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,535,000
      Change: +24% Conversion: Difficult
      OFFICE BUILDING
      $2,035,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.428
    Latitude
    38.0422
    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
    $29,521
    $0.00
    $0.00
    $2,387,300
    -
    $0.00
    $0.00
    $2,387,300

    Comparable in this City

    • Value Estimation
      $1,130,000
      5,333 SF

      1309 New Cir Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,333 SF
      1309 New Cir Rd, Lexington, KY 40505-4214
      View Details
    • Value Estimation
      $3,585,000
      34,018 SF

      1263 New Cir Rd

      RETAIL STORES (PERSONAL SERVICES) • 34,018 SF
      1263 New Cir Rd, Lexington, KY 40505-4290
      View Details
    • Value Estimation
      $1,705,000
      8,036 SF

      145 New Cir Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,036 SF
      145 New Cir Rd, Lexington, KY 40505-2114
      View Details
    • Value Estimation
      $2,355,000
      11,099 SF

      1307 Winchester Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,099 SF
      1307 Winchester Rd, Lexington, KY 40505-4124
      View Details
    • Value Estimation
      $560,000
      6,110 SF

      950 Winchester Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,110 SF
      950 Winchester Rd, Lexington, KY 40505-3948
      View Details
    • Value Estimation by Request
      1,566 SF

      1824 Bryan Sta Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,566 SF
      1824 Bryan Sta Rd, Lexington, KY 40505-2232
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Salon Ready for Lease

      2,096 SF vacant salon space on Winchester Road.
      835 Winchester Rd, 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
      3,120 SF

      Downtown Lexington Retail Investment

      Retail space in high-traffic Lexington location with strong rental history.
      1200 N Limestone, Lexington, KY 40505
      View Details
    • Contact for pricing

      Anchored Neighborhood Shopping Center

      Neighborhood shopping center anchored by Save-A-Lot and Dollar General.
      208 Legends Ln, Lexington, KY 40505
      View Details
    • Contact for pricing
      4,600 SF

      Retail Endcap Space in Hamburg

      Retail space for lease in regional shopping center and office development.
      2320 Elkhorn Rd, Lexington, KY 40505
      View Details
    • $2,200,000

      Free-Standing Retail Building with Drive-Thru

      15,048 SF retail building with drive-thru on 2.19 acres.
      254 East New Circle Rd, Lexington, KY 40505
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      17,579 SF

      Versatile Flex Space on Winchester Road

      17,579 SF flex space near downtown Lexington.
      800 Winchester Rd, Lexington, KY 40505
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,820 square feet.
      281 W New Circle Rd, Lexington, KY 40505
      View Details
    • $18 SF/Yr
      1,894 SF

      Mixed-Use Space in Lexington, KY

      High-visibility office and retail space in a mixed-use development.
      1021 N Limestone, Lexington, KY 40505
      View Details
    • Contact for pricing

      Freestanding Building on Winchester Road

      6,831 SF retail building for lease on 1.25 acres.
      1210 Winchester Rd, Lexington, KY 40505
      View Details
    • Contact for pricing

      Mixed-Use Space in No-Li District

      Mixed-use property with office and retail space for rent.
      1021 N Limestone, Lexington, KY 40505
      View Details
    • $15 SF/Yr
      5,318 SF

      Retail Units on Winchester Road

      Three retail units available on Winchester Road in Lexington.
      1104 Winchester Rd, 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.
    2296 Executive Dr
    Lexington, KY 40505-4820
    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!