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249 253rd E Main St Lexington, KY 40507

OFF-MARKET Office buildings Google Maps
45,368 SF 0.29 ac lot Built 1987
Entity Owned Absentee Owner Free & Clear
Estimated value (blended)
$5.43M
Range $4.88M – $5.97M (±10%)
Property ID US34-0595713

Property summary

AI-generated overview

249 E. Main Street, Lexington, KY 40507 offers a unique 2,351 square foot office space for lease. Located in the heart of Lexington's Central Business District, between Rose Street and Martin Luther King Boulevard, this Class A building provides an exceptional work environment. The property features a striking open atrium, a modern glass elevator shaft, and exposed brick, blending historical charm with contemporary design. The building totals 46,936 square feet across four stories and includes elevator service. This particular space is immediately available and represents the minimum divisible space within the building, with a maximum contiguous space also of 2,351 square feet. The property is categorized as both Creative and Traditional Office space, offering flexibility for various business needs. The building's prime location in Fayette County offers easy access to Lexington's amenities and transportation networks. This is a multi-tenant building, providing a vibrant and collaborative atmosphere. Inquire today to learn more about this exceptional opportunity.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1987
Total area 45,368 SF
Lot 0.29 ac (12,632 SF)
Zoning code B-2
APN 10052500
UPID US34-0595713

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Park
  • Employment Agency Business Service Center
  • Physician Medical Clinic
  • Marketing & Advertising Advertising Agency
  • Hair Salon Nail Salon

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$8.76M
Blend (final) Blend
$5.43M

Owner & transaction history

Zoning & alternative use

B-2 · Lexington, KY
Zoning description

B-2) zone. Affordable level shall mean eighty (80%) or less of the Lexington-Fayette Urban County area median income (AMI) at the time of rental or purchase, for a period of no less than ten (10) years, and where housing…

General category MIXED_USE
Top alternative use upside
Commercial (general) $10.1M +7.1%
Apartment house (5+ units) $10.0M +6.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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