300 Lindenhurst Dr, Lexington, KY 40509-1242
This exceptional 2.53-acre site in Lexington, Kentucky, presents a fully approved plan for a 56-unit multifamily development. Located in Southeast Lexington, near the intersection of Richmond Road and Man O' War Boulevard, this shovel-ready property boasts convenient access to I-75, Saint Joseph East Hospital, and Valvoline Headquarters. The R-4 zoning allows for medium-density residential construction. The site's prime location offers proximity to retail, hotels, financial institutions, and other amenities in the Richmond Road and Hamburg areas. The existing development plan streamlines the construction process, minimizing delays and maximizing efficiency. Adjacent to Steeplechase Apartments and potential future developments, this property represents a significant investment opportunity. The asking price is $1,550,000. This is a rare opportunity to acquire a fully permitted and strategically located multifamily development site in a thriving Lexington market. The property's size and zoning provide flexibility for a variety of development options. Don't miss this chance to capitalize on the strong demand for multifamily housing in this desirable area. The address is 300 Lindenhurst Dr, Lexington, KY 40509.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R-4 · Lexington, KYLexington. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.