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Property profile & analytics
OFF-MARKET
Estimated value
$2,485,000
Office buildings
2554 Palumbo Dr Lexington, KY 40509-1203
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US34-0413992
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Total area
19,180 SF
Lot
1.18 ac (51,401 SF)
Zoning code
I-1
APN
23035901
UPID
US34-0413992
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
-
CannaBusiness Laboratories Laboratory Cannabis Store
-
Aquatic Resources Management Llc Environmental Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.49M
Blend (final)
Blend
$2.49M
Owner & transaction history
Makers Time Prop LLC · 6 yrs held
Makers Time Prop LLC
since 2020
2 recorded transactions
Zoning & alternative use
I-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.9M
+4.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,775,000
Current use
MEDICAL BUILDING
$3,945,000
Change: +4% · Conversion: Easy
RETAIL STORES
$3,725,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,350,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.49M
Range $2.24M – $2.73M · ±10%
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
$130 / 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
$7,590
Tax year 2023
Assessed value
$613,800
Assessed 2023
Previous assessed
$613,800
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$613,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1980
Heating
NONE
Cooling
WINDOW A/C
Stories
1
Units
1
Total area
19,180 SF
Lot
1.18 ac (51,401 SF)
Zoning code
I-1
APN
23035901
UPID
US34-0413992
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
OFFICE BUILDING Current
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1980
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
Makers Time Prop LLC
Entity
Free & Clear · 6 yrs held
Mailing address
1344 PRATHER RD, LEXINGTON, KY 40502-2421
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2020
$2,567,376
Makers Time Prop LLC
Rfi Prop LLC
Deed
—
Jun 29, 2009
$4,756,600
Rfi Prop LLC
Rouse Family Inv Ltd
Deed
—
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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