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Property profile & analytics
OFF-MARKET
Estimated value
$6,820,000
Office buildings
2582 Research Park Dr Lexington, KY 40511-8479
Individually Owned
16-yr Hold
Free & Clear
Property ID
US34-0663269
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Total area
47,602 SF
Lot
10.48 ac (456,683 SF)
Zoning code
P-1
APN
38235760
UPID
US34-0663269
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
-
Turner Construction Co Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.82M
Blend (final)
Blend
$6.82M
Owner & transaction history
University Of Ky · 16 yrs held
University Of Ky
since 2010
1 recorded transaction
Zoning & alternative use
P-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.6M
+19.6%
Apartment house (5+ units)
$10.5M
+19.0%
Medical building
$9.8M
+10.8%
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
$8,835,000
Current use
COMMERCIAL (GENERAL)
$10,560,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$10,510,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$9,790,000
Change: +11% · Conversion: Easy
RETAIL STORES
$9,250,000
Change: +5% · Conversion: Moderate
WAREHOUSE, STORAGE
$8,310,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$6.82M
Range $6.14M – $7.50M · ±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
$143 / 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
Assessed value
$4,618,200
Assessed 2023
Previous assessed
$4,618,200
+0.0% YoY
Total market value
$4,618,200
Applied tax rate
2.0000
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
1976
Heating
NONE
Total area
47,602 SF
Lot
10.48 ac (456,683 SF)
Zoning code
P-1
APN
38235760
UPID
US34-0663269
Jurisdiction
FAYETTE
Zoning & alternative use
P-1 · Lexington, KY
Zoning P-1 · permitted uses
P-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
$8.8M
COMMERCIAL (GENERAL)
Est. value
$10.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.5M
MEDICAL BUILDING
Est. value
$9.8M
RETAIL STORES
Est. value
$9.3M
WAREHOUSE, STORAGE
Est. value
$8.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1976
Heating
NONE
Lot
10.48 ac
Current owner
From public records · entity-resolved
University Of Ky
Individual
Free & Clear · 16 yrs held
Mailing address
301 MAIN BLDG, LEXINGTON, KY 40507-1548
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2010
$193,954
University Of Ky
Commonwealth Of Ky-fin/admn
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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