Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2383 Chauvin Dr Lexington, KY 40517-3985

    • Residential income homes
    • 4,168 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    May 27, 2020
    $8,150,000
    Value Estimations
    $6,555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0565663
    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

    • Residential income homes

    Property Details for 2383 Chauvin Dr

    Year built
    1979
    Lot size
    0.34 lot acres
    Property size
    4,168 SF
    Zone code
    R-3
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    13620275
    APU
    13620275

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,555,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4618
    Latitude
    37.9931
    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
    $2,963
    $0.00
    $0.00
    $239,600
    -
    $0.00
    $0.00
    $239,600

    Comparable in this City

    • Value Estimation by Request
      4,012 SF

      437 Lenney Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,012 SF
      437 Lenney Dr, Lexington, KY 40517-1342
      View Details
    • Value Estimation by Request
      4,012 SF

      433 Lenney Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,012 SF
      433 Lenney Dr, Lexington, KY 40517-1343
      View Details
    • Value Estimation by Request
      4,012 SF

      429 Lenney Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,012 SF
      429 Lenney Dr, Lexington, KY 40517-1344
      View Details
    • Value Estimation by Request
      3,432 SF

      3740 Camelot Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,432 SF
      3740 Camelot Dr, Lexington, KY 40517-1790
      View Details
    • Value Estimation by Request
      2,508 SF

      1294 Ctr Pkwy

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,508 SF
      1294 Ctr Pkwy, Lexington, KY 40517-3253
      View Details
    • Value Estimation by Request
      3,640 SF

      3720 Camelot Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,640 SF
      3720 Camelot Dr, Lexington, KY 40517-1715
      View Details

    Similar Nearby for Sale

    • $239,000
      Pending

      Lexington Duplex with Income Potential

      Duplex in Lexington, KY with under-market rents.
      3509 Honey Jay Ct, Lexington, KY 40517
      View Details
    • New
      $354,900
      Pending

      Lexington Multifamily Investment Opportunity

      Multifamily property in Lexington, KY with income potential.
      275-277 Hightower Rd, Lexington, KY 40517
      View Details
    • $480,000
      3,604 SF

      Lexington Duplex with Spacious Units

      Large brick duplex in Lexington, ideal for investors or owner-occupiers.
      604-606 Sherard Cir, Lexington, KY 40517
      View Details
    • $175,000
      Pending

      Renovated Office Condo with Parking

      Newly renovated office condo with six spaces and ample parking.
      3131 Custer Dr, Lexington, KY 40517
      View Details
    • $1,739,000
      14,850 SF

      Lexington Office Building Investment

      14,850 SF Office Building, High NOI
      3138 Custer Dr, Lexington, KY 40517
      View Details
    • Contact for pricing

      Two-Story Office Building For Sale

      Two-story office building with elevator, suitable for medical or professional use.
      3138 Custer Dr, Lexington, KY 40517
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo

      Three Bedroom Duplex For Rent

      Three bedroom, 1.5 bath duplex near Kirklevington Park.
      413 Chapman Ct, Lexington, KY 40517
      View Details
    • $13 SF/Yr
      6,708 SF

      Lexington Office Building - 6708 SF

      Prime South Lexington Office Space Available
      200 Reynolds Rd, Lexington, KY 40517
      View Details
    • $500 /Mo
      110 SF

      Renovated Office Suite in Lexington

      Freshly renovated office space in high-traffic Lexington commercial area.
      169 F, Lexington, KY 40517
      View Details
    • $795 /Mo
      3,702 SF

      Lexington Office Space For Rent

      Office space available in Lexington, Kentucky with ample parking.
      3175 Custer Dr, Lexington, KY 40517
      View Details
    • $28 SF/Yr
      2,700 SF

      Restaurant Space in Kroger-Anchored Center

      Second generation restaurant space in prime Lexington retail center.
      4101 Tates Creek Centre Dr, Lexington, KY 40517
      View Details
    • $500 /Mo
      148 SF

      Renovated Office Suite in Lexington

      Freshly renovated office space in high-traffic Lexington commercial area.
      169 E Reynolds Rd, Lexington, KY 40517
      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.
    2383 Chauvin Dr
    Lexington, KY 40517-3985
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.