Property profile

2907 Richmond Rd Lexington, KY 40509

FOR LEASE
Sports & entertainment properties
Property ID
US34-0583971
7,709 SF 0.98 ac lot Built 1997
Entity Owned Free & Clear
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Property summary

AI-generated overview

Lakeview Plaza, located at 2907 Richmond Rd, Lexington, KY 40509 (SEC Richmond Rd & Tabor Rd), presents a significant retail investment opportunity. This single-story, 172,865 square foot shopping center sits on a substantial 18-acre lot and boasts 736 parking spaces, ensuring ample customer convenience. Built in 1979, the property is zoned B-3, allowing for a variety of commercial uses. Currently, there is 7,719 square feet of vacant space available, offering immediate potential for expansion or new tenants. The property's multiple tenancy structure provides a diverse income stream and a strong foundation for future growth. Its high-traffic location at the intersection of Richmond Rd and Tabor Rd guarantees excellent visibility and accessibility for businesses. This is a rare opportunity to acquire a well-established retail center with significant upside potential in a thriving Kentucky market. The property's size and location make it ideal for a variety of retail uses, from large anchor stores to smaller specialty shops. The substantial parking area further enhances its appeal to both tenants and customers. Interested parties should note the available outlot and in-line space.

Property profile

Verified
Property type Sports & entertainment properties
Use group RECREATIONAL, ENTERTAINMENT
Year built 1997
Total area 7,709 SF
Lot 0.98 ac (42,515 SF)
Zoning code B-3
APN 20009440
UPID US34-0583971

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • General Contractor Construction Company
  • Restaurant

Location

2907 Richmond Rd Lexington, KY 40509
Lexington metro Census 3911 LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.91M

Owner & transaction history

since 2025
Last sale
$2.9M
4 recorded transactions
2025
$2.9M
2022
$2.9M
2020
$13.4M
2017
Price N/A

Zoning & alternative use

B-3 · Lexington, KY
Zoning description

ional parking regulations.) (d) Screening. Landscaping and screening shall be provided as required in Article 18 . (e) Lot, Yard, and Height Requirements. Lot and yard requirements shall be as for the Corridor Business (…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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