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

    3260 Blazer Pkwy Lexington, KY 40509

    • Office buildings
    • 7,020 SF
    • 0.88 lot acres
    For Sale
    View listing
    $15
    Last Sale
    Mar 22, 2024
    $1,900,000
    Value Estimations
    Cap Rate Potential
    4.9%
    Office buildings
    Location Intelligence
    Property ID
    US34-0645407
    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

    • Powerful Legacy Insurance and Financial Services / Financial Planner
    • Commonwealth Integrity Pain Center PLLC / Pain Management Physician / Medical Clinic
    • Navante LLC / Marketing Agency
    • Joseph Smith / Pain Management Physician / Health Care Facility
    • First Liberty Mortgage / Mortgage Lender

    Property Details for 3260 Blazer Pkwy

    Year built
    1997
    Lot size
    0.88 lot acres
    Property size
    7,020 SF
    Zone code
    P-1
    Property type
    Office buildings
    APN
    19338670
    APU
    19338670

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,900,000
      ML approach
      $1,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,560,000
      6.5%
      $1,440,000
      7%
      $1,335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,145,000
      Market price range: $910k - $1.98M
      AI Estimate
      $1,145,000
      Market price range: $910k - $1.98M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,380,000
      Current use
      AUTO REPAIR, GARAGE
      $2,565,000
      Change: +86% Conversion: Difficult
      RESTAURANT
      $2,290,000
      Change: +66% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,560,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,550,000
      Change: +12% Conversion: Easy
      MEDICAL BUILDING
      $1,445,000
      Change: +4% Conversion: Easy
      RETAIL STORES
      $1,365,000
      Change: -1% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,225,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4397
    Latitude
    38.003
    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
    $10,265
    $0.00
    $0.00
    $830,100
    -
    $0.00
    $0.00
    $830,100

    Comparable in this City

    • Value Estimation
      $4,020,000
      23,328 SF

      2517 Sir Barton Way

      OFFICE BUILDING • 23,328 SF
      2517 Sir Barton Way, Lexington, KY 40509-2744
      View Details
    • Value Estimation
      $5,715,000
      44,100 SF

      961 Beasley St

      OFFICE BUILDING • 44,100 SF
      961 Beasley St, Lexington, KY 40509-4131
      View Details
    • Value Estimation
      $925,000
      3,280 SF

      625 Blue Sky Pkwy

      OFFICE BUILDING • 3,280 SF
      625 Blue Sky Pkwy, Lexington, KY 40509-9459
      View Details
    • Value Estimation
      $8,310,000
      64,140 SF

      541 Darby Crk Rd

      OFFICE BUILDING • 64,140 SF
      541 Darby Crk Rd, Lexington, KY 40509-2709
      View Details
    • Value Estimation
      $1,505,000
      11,620 SF

      2560 Richmond Rd

      OFFICE BUILDING • 11,620 SF
      2560 Richmond Rd, Lexington, KY 40509-1769
      View Details
    • Value Estimation by Request
      2,179 SF

      2309 Woodhill Dr

      OFFICE BUILDING • 2,179 SF
      2309 Woodhill Dr, Lexington, KY 40509-1023
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class B Office Building

      Class B office building with abundant parking in Lexington, KY.
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    • Contact for pricing
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      Class A Office Building Lexington

      Class A office building with high visibility and easy access.
      101-119 Prosperous Pl, Lexington, KY 40509
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      27,516 SF

      Hamburg Place Office Leasing Opportunity

      Office space for lease in Lexington's Hamburg Place.
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      1,758 SF

      Lexington Office Space For Sale

      Office space in prime location near Hamburg, Richmond Road, I-75.
      519 Darby Creek Rd, Lexington, KY 40509
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    • Contact for pricing

      Professional Office Suite For Sale

      Professional office suite in Lexington's Blazer Office Park.
      3260 Blazer Pkwy, Lexington, KY 40509
      View Details
    • $489,000

      Lexington Retail/Office Building For Sale

      4,336 SF retail/office building with high visibility.
      2100 Liberty Rd, Lexington, KY 40509
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      47,754 SF

      Lexington Executive Office Space

      Prestigious office suites, ample parking.
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      View Details
    • Contact for pricing
      31,152 SF

      Fountain Court Medical Office Space

      Prime Fayette County Medical Office Building
      230 Fountain Ct, Lexington, KY 40509
      View Details
    • $9 SF/Yr
      3,882 SF

      Lexington Flex Space Available

      Versatile flex space with office and warehouse components for lease.
      2428 Palumbo Dr, Lexington, KY 40509
      View Details
    • $900 /Mo
      834 SF

      Lexington Office Space For Rent

      Lower level office unit with kitchenette and half bath.
      141 Prosperous Pl, Lexington, KY 40509
      View Details
    • $8 SF/Yr
      4,772 SF

      Lexington Flex Space Available

      Flex/industrial space with office and warehouse components for lease.
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      View Details
    • $30 SF/Yr
      13,504 SF

      Professional Office Space For Rent

      Office space with high visibility near St Joseph Hospital East.
      101 N Eagle Creek Dr, Lexington, KY 40509
      View Details
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    3260 Blazer Pkwy
    Lexington, KY 40509
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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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