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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3122 Custer Dr Lexington, KY 40517-4000

    • Medical offices
    • 2,632 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Jan 07, 2021
    $265,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0598510
    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

    • Dr. Glenn E Sutherland/Park Hills Family Dentistry / Dentist / Cosmetic Dentist
    • Park Hills Dentistry / Dentist / Cosmetic Dentist
    • Martha Rice / Practitioner Service Location / Medical Clinic
    • Dr. Shelby Oberst / Dentist
    • Dr. Jinyoung Kim / Dentist

    Property Details for 3122 Custer Dr

    Year built
    1984
    Lot size
    0.40 lot acres
    Property size
    2,632 SF
    Zone code
    P-1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    11887942
    APU
    11887942

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4584
    Latitude
    37.9891
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY 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
    $3,277
    $0.00
    $0.00
    $265,000
    -
    $0.00
    $0.00
    $265,000

    Comparable in this City

    • Value Estimation
      $765,000
      6,336 SF

      114 Reynolds Rd

      MEDICAL BUILDING • 6,336 SF
      114 Reynolds Rd, Lexington, KY 40517-1248
      View Details
    • Value Estimation
      $750,000
      6,216 SF

      3198 Custer Dr

      MEDICAL BUILDING • 6,216 SF
      3198 Custer Dr, Lexington, KY 40517-4003
      View Details
    • Value Estimation
      $865,000
      5,989 SF

      3256 Loch Ness Dr

      MEDICAL BUILDING • 5,989 SF
      3256 Loch Ness Dr, Lexington, KY 40517-1239
      View Details
    • Value Estimation
      $780,000
      2,766 SF

      3174 Custer Dr, Unit 3178

      MEDICAL BUILDING • 2,766 SF
      3174 Custer Dr, Lexington, KY 40517-4000
      View Details
    • Value Estimation by Request
      2,034 SF

      3145 Custer Dr

      MEDICAL BUILDING • 2,034 SF
      3145 Custer Dr, Lexington, KY 40517-4001
      View Details
    • Value Estimation
      $4,540,000
      16,298 SF

      601 Perimeter Dr

      MEDICAL BUILDING • 16,298 SF
      601 Perimeter Dr, Lexington, KY 40517-4121
      View Details

    Similar Nearby for Sale

    • $1,739,000
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      Lexington Office Building Investment

      14,850 SF Office Building, High NOI
      3138 Custer Dr, Lexington, KY 40517
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    • Contact for pricing

      South Lexington Office Building

      6,708 SF office building in South Lexington for sale.
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      Two-Story Office Building For Sale

      Two-story office building with elevator, suitable for medical or professional use.
      3138 Custer Dr, Lexington, KY 40517
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    • $175,000
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      Renovated Office Condo with Parking

      Newly renovated office condo with six spaces and ample parking.
      3131 Custer Dr, Lexington, KY 40517
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      East Reynolds Road Office Space

      Recently renovated office space for lease in Lexington, Kentucky.
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    • $480,000
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      Large brick duplex in Lexington, ideal for investors or owner-occupiers.
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    Similar Nearby for Lease

    • $16 SF/Yr
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      Prime Lexington office space, multiple suites available.
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      Tates Creek Office Center

      Lexington KY Office Space, 3 Suites Available
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      Renovated Office Suite in Lexington

      Freshly renovated office space in high-traffic Lexington commercial area.
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    • $850 /Mo
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      Lexington Office Suite For Lease

      800 SF office suite with utilities included near Fayette Mall.
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    • $1,609 /Mo
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      Lexington Office Space Available

      Office space for lease in Lexington, Kentucky.
      3175 Custer Dr, Lexington, KY 40517
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    • $1,113 /Mo
      1,027 SF

      Lexington Office Space Available

      Office space for rent in Lexington, Kentucky with ample parking.
      3167 Custer Dr, Lexington, KY 40517
      View Details
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    3122 Custer Dr
    Lexington, KY 40517-4000
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    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
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