Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    270 Limestone Lexington, KY 40508-2566

    • Office buildings
    • 6,023 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2021
    $1,525,000
    Value Estimations
    $2,040,000
    Show details
    Cap Rate Potential
    3.5%
    Office buildings
    Location Intelligence
    Property ID
    US34-0417796
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bluegrass Business Advisors / Business Broker
    • GRAVES / Architect
    • SVN Stone Commercial Real Estate / Commercial Real Estate Agency / Leasing Service

    Property Details for 270 Limestone

    Year built
    1949
    Lot size
    0.44 lot acres
    Property size
    6,023 SF
    Zone code
    P-1
    Property type
    Office buildings
    APN
    12403500
    APU
    12403500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,065,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,956,000
      Market price range: $946k - $1.96M
      AI Estimate
      $1,956,000
      Market price range: $946k - $1.96M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,255,000
      Current use
      AUTO REPAIR, GARAGE
      $2,200,000
      Change: +75% Conversion: Difficult
      RESTAURANT
      $1,965,000
      Change: +56% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,610,000
      Change: +28% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5006
    Latitude
    38.0436
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,858
    $0.00
    $0.00
    $1,525,000
    -
    $0.00
    $0.00
    $1,525,000

    Comparable in this City

    • Value Estimation by Request
      3,600 SF

      140 Jefferson St

      OFFICE BUILDING • 3,600 SF
      140 Jefferson St, Lexington, KY 40508-1760
      View Details
    • Value Estimation by Request
      3,232 SF

      252 Maxwell St

      OFFICE BUILDING • 3,232 SF
      252 Maxwell St, Lexington, KY 40508-2613
      View Details
    • Value Estimation by Request
      943 SF

      210 Maxwell St

      OFFICE BUILDING • 943 SF
      210 Maxwell St, Lexington, KY 40508-2506
      View Details
    • Value Estimation by Request
      8,684 SF

      635 6th St

      OFFICE BUILDING • 8,684 SF
      635 6th St, Lexington, KY 40508-2076
      View Details
    • Value Estimation by Request
      1,917 SF

      163 3rd St

      OFFICE BUILDING • 1,917 SF
      163 3rd St, Lexington, KY 40508-1825
      View Details
    • Value Estimation by Request
      5,352 SF

      134 3rd St

      OFFICE BUILDING • 5,352 SF
      134 3rd St, Lexington, KY 40508-1700
      View Details

    Similar Nearby for Sale

    • $3,150,000
      2.38 Acres

      Downtown Lexington Development Site

      2.38 acres, flexible zoning, prime location.
      0 Midland Ave & Short St, Lexington, KY 40508
      View Details
    • $1,250,000

      Versatile Warehouse Near Downtown Lexington

      9,664 SF warehouse for sale or lease near downtown.
      821 Porter Pl, Lexington, KY 40508
      View Details
    • Contact for pricing

      Functional Warehouse in Lexington's East End

      4,082 SF warehouse with convenient access to major roadways.
      761 East Seventh St, Lexington, KY 40508
      View Details
    • Contact for pricing

      Versatile Industrial Space with Yard

      8,000 SF industrial space with secured yard near downtown.
      167 Payne St, Lexington, KY 40508
      View Details
    • $15,500,000
      7.00 Acres

      Distillery District Redevelopment Opportunity

      Commercial property in Lexington's Distillery District with redevelopment potential.
      1170 Manchester St, Lexington, KY 40508
      View Details
    • $309,000
      1,967 SF

      Lexington Duplex on Double Lot

      Downtown Lexington duplex with income potential on a double lot.
      240 E Third St, Lexington, KY 40508
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      6,848 SF

      Downtown Lexington Creative Office Space

      Renovated historic building with modern amenities in downtown Lexington.
      146 E Third St, Lexington, KY 40508
      View Details
    • $2,500 /Mo
      2,131 SF

      Lexington Commercial Building with Fenced Yard

      Commercial building for lease featuring a fenced yard.
      312 Thompson Rd, Lexington, KY 40508
      View Details
    • $18 SF/Yr
      18,264 SF

      Lexington Office Space: The Commons

      Class A Office, 4,080 SF Available
      144 Turner Commons Way, Lexington, KY 40508
      View Details
    • $6 SF/Yr
      197,500 SF

      Distillery District Warehouse/Office Space

      Four-story warehouse/office space in Lexington's Distillery District for lease.
      1170 Manchester St, Lexington, KY 40508
      View Details
    • $6 SF/Yr
      7,700 SF

      Industrial Flex Space Available

      7,700 SF flex space near downtown Lexington and UK.
      441 Hayman Ave, Lexington, KY 40508
      View Details
    • New
      $5,000 /Mo
      2,846 SF

      Historic Downtown Office Space Available

      Renovated office space in historic downtown Lexington, move-in ready.
      642 W Main St, Lexington, KY 40508
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    270 Limestone
    Lexington, KY 40508-2566
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.