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Property profile & analytics
OFF-MARKET
Estimated value
$6,515,000
Warehouses
251 Price Rd Lexington, KY 40511-1961
Entity Owned
5-yr Hold
Free & Clear
Property ID
US34-0535668
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1940
Total area
22,311 SF
Lot
26.28 ac (1,144,931 SF)
Zoning code
I-1
APN
23944100
UPID
US34-0535668
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
-
Solideal On-Site Service Material Handling Equipment Supplier
-
Citadel Warehouse Services Storage Facility
-
TBL Garage Warehouse & Storage
-
Installers Plus Inc Moving Company Storage Facility
-
Square Feet Mobile Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.80M
Blend (final)
Blend
$6.52M
Owner & transaction history
251 Price Rd LLC · 5 yrs held
251 Price Rd LLC
since 2020
Last sale
$6.1M
5 recorded transactions
Zoning & alternative use
I-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.2M
+109.4%
Restaurant
$7.3M
+86.9%
Commercial (general)
$5.0M
+27.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,865,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$8,155,000
Change: +109% · Conversion: Easy
RESTAURANT
$7,280,000
Change: +87% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,950,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,925,000
Change: +27% · Conversion: Difficult
MEDICAL BUILDING
$4,590,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$4,335,000
Change: +11% · Conversion: Moderate
OFFICE BUILDING
$4,140,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$6.52M
Range $5.86M – $7.17M · ±10% · vs last sale $6.05M (Dec 11 2020)
Last sale anchor
$6.05M
Dec 11 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$292 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$74,814
Tax year 2023
Assessed value
$6,050,000
Assessed 2023
Previous assessed
$6,050,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$6,050,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
18
Total area
22,311 SF
Lot
26.28 ac (1,144,931 SF)
Zoning code
I-1
APN
23944100
UPID
US34-0535668
Jurisdiction
FAYETTE
Zoning & alternative use
I-1 · Lexington, KY
Zoning I-1 · permitted uses
I-1 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$8.2M
RESTAURANT
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.6M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING
Est. value
$4.1M
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Buildings
18
Lot
26.28 ac
Current owner
From public records · entity-resolved
251 Price Rd LLC
Entity
Free & Clear · 5 yrs held
Mailing address
333 E MAIN ST STE #300, LOUISVILLE, KY 40202-1256
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2024
—
251 Price Road LLC
—
Deed
related
$1,300,000 · Wesbanco Bank INC
Aug 16, 2022
—
251 Price Road LLC
—
Deed
related
$4,300,000 · Wesbanco Bank INC
Dec 11, 2020
$6,050,000
251 Price Rd LLC
G F Vaughan Tobacco Co INC
Deed
—
Oct 26, 2020
$5,850,000
Turner Prop 4 LLC
G F Vaughan Tobacco Co INC
Deed
—
Jan 6, 2017
—
G F Vaughan Tobacco Co INC
—
Deed
related
$5,000,000 · Branch Banking & Tr Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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