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Property profile & analytics
FOR LEASE
Community centers
3122 Richmond Rd Lexington, KY 40517
Entity Owned
5-yr Hold
Free & Clear
Property ID
US34-0434573
For Lease
$20 SF/Yr
3122 Richmond Rd, Lexington, KY 40517
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1993
Total area
67,374 SF
Lot
10.47 ac (455,943 SF)
Zoning code
B-3
APN
19309450
UPID
US34-0434573
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.62M
Owner & transaction history
S&p Real Est Holdings LLC · 5 yrs held
S&p Real Est Holdings LLC
since 2021
Last sale
$17.4M
2 recorded transactions
Zoning & alternative use
B-3 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$16,320,000
6.5%
$15,065,000
7%
$13,990,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$24,335,000
Change: 0% · Conversion: Difficult
RESTAURANT
$21,985,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,880,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$13,855,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$13,265,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$13,050,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$11,760,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$16.62M
Range $14.96M – $18.28M · ±10% · vs last sale $17.40M (May 17 2021)
Last sale anchor
$17.40M
May 17 2021
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
$247 / 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
$99,356
Tax year 2023
Assessed value
$8,034,600
Assessed 2023
Previous assessed
$8,034,600
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$8,034,600
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1993
Heating
NONE
Buildings
2
Total area
67,374 SF
Lot
10.47 ac (455,943 SF)
Zoning code
B-3
APN
19309450
UPID
US34-0434573
Jurisdiction
FAYETTE
Zoning & alternative use
B-3 · Lexington, KY
Zoning B-3 · permitted uses
B-3 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$24.3M
RESTAURANT
Est. value
$22.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.9M
MEDICAL BUILDING
Est. value
$13.9M
OFFICE BUILDING
Est. value
$13.3M
RETAIL STORES
Est. value
$13.1M
WAREHOUSE, STORAGE
Est. value
$11.8M
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE 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
1993
Heating
NONE
Buildings
2
Lot
10.47 ac
Current owner
From public records · entity-resolved
S&p Real Est Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
3228 SMT SQ PL STE #180, LEXINGTON, KY 40509-2637
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2021
$17,400,000
S&p Real Est Holdings LLC
Df Lex Prop LLC
Deed
—
Nov 16, 2018
$15,500,000
Df Lex Prop LLC
Bre Retail Residual Mist Lake Plaza
Deed
—
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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