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Property profile & analytics
FOR SALE
Office buildings
277 E High St Lexington, KY 40507
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US34-0561581
For Sale
1 / 14
$3,790,000
277 E High St, Lexington, KY 40507
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
6,688 SF
Lot
0.39 ac (16,988 SF)
Zoning code
B-2
APN
14636600
UPID
US34-0561581
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
-
R E Cook Electrical Co General Contractor
-
Breck Norment - The Law Offices of W. Breckinridge Norment III, P.S.C. Law Firm Child Welfare Organization
-
Hughes Diana L CPA Law Firm
-
Hensler Carrie J CPA Accounting Firm Tax Preparation
-
Hisle & Co Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.36M
Owner & transaction history
Dewitt T Hisle · 3 yrs held
Dewitt T Hisle
since 2022
1 recorded transaction
Zoning & alternative use
B-2 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 expenses, including utilities, shall constitute no more than forty (40%) of monthly household income. (d) Workforce housing units that meet…
Zone name
Downtown Business
General category
MIXED_USE
Zone area
49.80 ac
Top alternative use upside
Restaurant
$2.2M
+57.5%
Commercial (general)
$1.5M
+7.1%
Apartment house (5+ units)
$1.5M
+6.6%
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
$1,385,000
Current use
RESTAURANT
$2,180,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,485,000
Change: +7% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,475,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$1,375,000
Change: -1% · Conversion: Easy
RETAIL STORES
$1,300,000
Change: -6% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,165,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±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
$203 / 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
$8,270
Tax year 2023
Assessed value
$668,800
Assessed 2023
Previous assessed
$668,800
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$668,800
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
For Sale
Year built
1975
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
6,688 SF
Lot
0.39 ac (16,988 SF)
Zoning code
B-2
APN
14636600
UPID
US34-0561581
Jurisdiction
FAYETTE
Zoning & alternative use
B-2 · Lexington, KYZoning B-2 · permitted uses
B-2 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
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 expenses, including utilities, shall constitute no more than forty (40%) of monthly household income. (d) Workforce housing units that meet the following requirements shall be granted a workforce housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations: (1) Workforce housing dwelling units shall be provided at one hundred twenty (120%) percent or less of the Lexington-Fayette Urban County area median income (AMI), at the time of rental or purchase. (2) The project shall be restricted for a period of no less than fifteen (15) years. (3) Projects shall be regulated under the provisions as noted below:
Zone name
Downtown Business
General category
MIXED_USE
Zone area
49.80 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.2M
OFFICE BUILDING Current
RESTAURANT
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
1975
Heating
NONE
Cooling
Yes
Stories
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Dewitt T Hisle
Individual
Mailing address
277 E HIGH ST, LEXINGTON, KY 40507-1421
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Oct 5, 2022
—
Dewitt T Hisle
—
Deed
related
$300,000 · Community Trust Bank INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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