2907 Richmond Rd Lexington, KY 40509
- Sports & entertainment properties
- 7,709 SF
- 0.98 lot acres
Current Use by Public Records
- Sante Construction LLC / Fence Contractor
- Golden Buffet - / Seafood Restaurant / Chinese Restaurant
Property Details for 2907 Richmond Rd
- Year built
- 1997
- Lot size
- 0.98 lot acres
- Property size
- 7,709 SF
- Zone code
- B-3
- Property type
- Sports & entertainment properties
- APN
- 20009440
- APU
- 20009440
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,905,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,650,000
- 6.5%
- $2,880,000
- 7%
- $2,955,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,775,000
- Geo Method
- $3,285,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,115,000
- Retail
- $3,140,000
- Mixed-Use
- $2,820,000
- Hospitality
- $2,740,000
- Educational
- $3,115,000
- Residential Income
- $2,525,000
- Energy
- $2,960,000
- Income-Based Land
- $2,925,000
- Food Service
- $2,415,000
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.4488
- Latitude
- 38.0048
- CBSA code
- 30460
- CBSA name
- LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
