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

    2815 Lexington Ave Ashland, KY 41101-3009

    • Office buildings
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-1407286
    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

    • Ageless Aesthetics MediSpa, LLC / Facial Spa / Medical Spa
    • CoolSculpting Morehead KY / Spa

    Property Details for 2815 Lexington Ave

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Zone code
    COMMERCIAL
    Property type
    Office buildings
    APN
    038-08-34-007.00
    APU
    38083400700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Boyd
    State
    Kentucky
    Longitude
    -82.6286
    Latitude
    38.4671
    CBSA code
    26580
    CBSA name
    HUNTINGTON-ASHLAND, WV-KY-OH 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
    $1,907
    $59,000
    $256,000
    $315,000
    -
    $59,000
    $256,000
    $315,000

    Comparable in this City

    • Value Estimation
      $250,000
      0.02 Acres

      212 16th St

      OFFICE BUILDING (MULTI-STORY) • 0.02 Acres
      212 16th St, Ashland, KY 41101-7657
      View Details
    • Value Estimation
      $275,000
      0.10 Acres

      700 29th St

      PROFESSIONAL BUILDING • 0.10 Acres
      700 29th St, Ashland, KY 41101
      View Details
    • Value Estimation
      $275,000
      0.12 Acres

      2140 29th St

      PROFESSIONAL BUILDING • 0.12 Acres
      2140 29th St, Ashland, KY 41101-4056
      View Details
    • Value Estimation by Request

      2154 Carter Ave Ste A

      PROFESSIONAL BUILDING
      2154 Carter Ave Ste A, Ashland, KY 41101-7739
      View Details
    • Value Estimation
      $260,000
      0.35 Acres

      1511 13th St

      OFFICE BUILDING (MULTI-STORY) • 0.35 Acres
      1511 13th St, Ashland, KY 41101-3507
      View Details
    • Value Estimation
      $265,000
      1,495 SF

      332 15th St, Unit 334

      OFFICE BUILDING (MULTI-STORY) • 1,495 SF
      332 15th St, Ashland, KY 41101-7626
      View Details

    Similar Nearby for Sale

    • $1,100,000
      5,164 SF

      Ashland Office Building For Sale

      Freestanding brick office building in the heart of Ashland, Kentucky.
      1901 Winchester Ave, Ashland, KY 41101
      View Details
    • $219,900
      2,758 SF

      Ashland Commercial Building For Sale

      Two-story commercial building with recent updates, suitable for various business uses.
      1824 Carter Ave, Ashland, KY 41101
      View Details
    • $349,000

      High-Traffic Office Building For Sale

      Office building in high-traffic location near Ashland Town Center.
      701 Winchester Ave, Ashland, KY 41101
      View Details
    • $1,100,000
      5,164 SF

      Commercial Building in Prime Location

      Free-standing brick office building in the heart of Ashland.
      1901 Winchester Ave, Ashland, KY 41101
      View Details
    • $299,900

      Office/Apartment Building in Central Location

      Mixed-use building with office space and a two-bedroom apartment.
      1428 Winchester Ave, Ashland, KY 41101
      View Details
    • $199,900

      Medical Condo For Sale

      Medical condo with established office, suitable for medical practice.
      100 Saint Christopher Dr, Ashland, KY 41101
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr

      Prestigious Office Building in Ashland

      Premier office spaces with river views, parking, and amenities.
      1212 Bath Ave, Ashland, KY 41101
      View Details
    • Contact for pricing

      Modern Office Space in Ashland

      Prime office spaces with modern amenities in a vibrant location.
      350 Diederich Blvd, Ashland, KY 41101
      View Details
    • Contact for pricing
      4,200 SF

      Ashland KY Commercial Gem

      Historic Downtown Office Space
      236 16Th St, Ashland, KY 41101
      View Details
    • $8,500 /Mo
      5,315 SF

      Ashland Commercial Space For Rent

      Commercial space in Ashland, ideal for medical or professional office.
      1901 Winchester Ave, Ashland, KY 41101
      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.
    2815 Lexington Ave
    Ashland, KY 41101-3009
    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.