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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Retail space
400 Limestone 402 Lexington, KY 40508-1874
Entity Owned
Absentee Owner
Free & Clear
Property ID
US34-0428733
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1890
Total area
3,368 SF
Lot
0.12 ac (5,249 SF)
Zoning code
B-1
APN
16603250
UPID
US34-0428733
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
Current use
Occupant on record · Public records
-
Sabateen Design Boutique (Bike/Boat/Book/etc) Store
-
Bungalow Hair Co. Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$495k
Comparable Approach
Comparable
$564k
Blend (final)
Blend
$720k
Owner & transaction history
400 N LIME LLC · 3 yrs held
400 N LIME LLC
since 2023
Last sale
$780,000
1 recorded transaction
Zoning & alternative use
B-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$900,000
+37.4%
Office building
$705,000
+7.4%
Medical building
$695,000
+5.8%
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%
$535,000
6.5%
$495,000
7%
$460,000
Alternative Use
Use
Estimation
RETAIL STORES
$655,000
Current use
COMMERCIAL (GENERAL)
$900,000
Change: +37% · Conversion: Easy
OFFICE BUILDING
$705,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$695,000
Change: +6% · Conversion: Difficult
WAREHOUSE, STORAGE
$590,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $780k (Oct 20 2023)
Last sale anchor
$780k
Oct 20 2023
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
$214 / 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
$4,637
Tax year 2023
Assessed value
$375,000
Assessed 2023
Previous assessed
$375,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$375,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1890
Heating
YES
Cooling
WINDOW A/C
Stories
2
Total area
3,368 SF
Lot
0.12 ac (5,249 SF)
Zoning code
B-1
APN
16603250
UPID
US34-0428733
Jurisdiction
FAYETTE
Zoning & alternative use
B-1 · Lexington, KY
Zoning B-1 · permitted uses
B-1 · 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
RETAIL STORES Current
Est. value
$655,000
COMMERCIAL (GENERAL)
Est. value
$900,000
OFFICE BUILDING
Est. value
$705,000
MEDICAL BUILDING
Est. value
$695,000
WAREHOUSE, STORAGE
Est. value
$590,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
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
1890
Heating
YES
Cooling
Yes
Stories
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
400 N LIME LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1585 MERCER RD STE #110, LEXINGTON, KY 40511-1669
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2023
$780,000
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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.
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