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

    3255 Lexington Rd Nicholasville, KY 40356

    • Commercial real estate
    • 69.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0350213
    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

    • Commercial real estate

    Property Details for 3255 Lexington Rd

    Lot size
    69.19 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 69.19-acre parcel presents a remarkable opportunity for developers seeking a prime location in Nicholasville, Kentucky. Situated at 3255 Lexington Road, this A-1 zoned land boasts over 1,800 feet of road frontage on a busy thoroughfare averaging 35,100 vehicles per day (VPD). Its strategic location on the edge of southern Lexington/Fayette County makes it ideally suited for a diverse range of development projects, including retail, multifamily residential, industrial, or office spaces. The expansive acreage offers significant potential for large-scale development, catering to a variety of needs and visions. The property's high visibility and convenient access to major transportation routes ensure strong potential for attracting businesses and residents alike. Detailed information regarding pricing and leasing terms is available upon request. This is a rare opportunity to acquire a substantial tract of land in a rapidly growing area with excellent development prospects. The property is located in Jessamine County, Kentucky, with a zip code of 40356. The precise coordinates are latitude 37.948559 and longitude -84.546597.

    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
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.546597
    Latitude
    37.948559

    Comparable in this City

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    • $5,300,000

      81-Acre Mixed-Use Development Opportunity

      81 acres with commercial and residential zoning near Lexington.
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    • $84,900
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      Residential Land in Nicholasville, KY

      Residential land available for purchase in Nicholasville, Kentucky.
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    • $275,000
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      Nicholasville, KY Land Homesite

      Premier 6.23 acre country homesite in Jessamine County.
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    • $225,000
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      Nicholasville Land with Bluegrass Views

      One-acre lots in a Bluegrass development with agricultural surroundings.
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    Similar Nearby for Sale

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      Residential Land in Established Community

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      Residential Land in Nicholasville, KY

      1+ acre residential land for sale in Nicholasville, Kentucky.
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    • $1,716,750

      Nicholasville Commercial Land For Sale

      38.15 acres of B-2 zoned land in Nicholasville, KY.
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Nicholasville Industrial Flex Space

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      Nicholasville KY Commercial Property

      Versatile Office & Retail Space, 5 Suites Available
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    • $13 SF/Yr
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      Prime Nicholasville Office Space

      Executive & medical suites available.
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      4,755 SF

      Retail Space in Nicholasville

      Retail space available for lease in Nicholasville, Kentucky.
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    • New
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      Nicholasville Commercial Property with Storage

      Available space in Nicholasville with outside storage and trailer parking.
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    • $22 SF/Yr
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      Nicholasville Medical Office Space

      Class A medical office suites available.
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    Request Owner's contact information
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    3255 Lexington Rd
    Nicholasville, KY 40356
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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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