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Property profile & analytics
OFF-MARKET Estimated value $12,765,000
Warehouses

2425 Merchant St Lexington, KY 40511-2601

99,591 SF 5.83 ac lot Built 1985
Entity Owned 3-yr Hold Free & Clear
Property ID
US34-0046033
Property profile
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1985
Total area 99,591 SF
Lot 5.83 ac (253,955 SF)
Zoning code I-1
APN 20017610
UPID US34-0046033
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
  • U-Haul Moving & Storage of Leestown Rd Car Rental Facility
  • Trailer Hitches at U-Haul Auto Parts Store
  • U-Haul Moving & Storage of Masterson Station Car Rental Facility
  • Self-Storage at U-Haul Storage Facility
  • Moving Supplies at U-Haul Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.76M
Blend (final) Blend
$12.77M
Owner & transaction history
Arec 50 LLC · 3 yrs held
Arec 50 LLC
since 2023
3 recorded transactions
2023
Price N/A
2018
$4.9M
2017
Price N/A
Zoning & alternative use
I-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

I-1 or I-2 zone. Home occupation means a gainful occupation or profession carried on in a residence that does not involve customer or client visits to the residence (excluding pick-up or pre-ordered items or drop-off of items to be repaired); and materials or equipment used in the conduct of the home occupation is limited to items that have minimal potential…

Zone name Light Industrial
General category INDUSTRIAL
Zone area 4,436.91 ac
Top alternative use upside
Medical building $20.5M +17.8%
Retail stores $19.4M +11.3%
Office building $18.5M +6.3%
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