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Property profile & analytics
OFF-MARKET
Estimated value
$2,550,000
Office buildings
450 Old Vine St Lexington, KY 40507-1544
Entity Owned
1-yr Hold
Free & Clear
Property ID
US34-0578024
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
19,317 SF
Lot
0.83 ac (36,155 SF)
Zoning code
R-3
APN
12441100
UPID
US34-0578024
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
-
Benson Law Offices Law Firm
-
Budget Container Sales Big Box & Wholesale Store Shipping Company
-
Lexington Christian Network, Inc. (99.7 FM WXCN-LP Lexington) Radio Station Telecommunications Service
-
Bluegrass Land Conservancy Charitable Organization Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.55M
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
$3.50M
Blend (final)
Blend
$2.55M
Owner & transaction history
450 LLC · 1 yrs held
450 LLC
since 2024
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
R-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
$2,550,000
ML approach
$2,550,000
CAP Approach
CAP Return
Estimation
6%
$3,840,000
6.5%
$3,545,000
7%
$3,290,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,000,000
Current use
MEDICAL BUILDING
$3,975,000
Change: -1% · Conversion: Easy
RETAIL STORES
$3,755,000
Change: -6% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,370,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.55M
Range $2.30M – $2.81M · ±10% · vs last sale $2.55M (Aug 26 2024)
Last sale anchor
$2.55M
Aug 26 2024
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
$132 / 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
$21,220
Tax year 2023
Assessed value
$1,716,000
Assessed 2023
Previous assessed
$1,716,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$1,716,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Heating
YES
Cooling
WINDOW A/C
Stories
31
Total area
19,317 SF
Lot
0.83 ac (36,155 SF)
Zoning code
R-3
APN
12441100
UPID
US34-0578024
Jurisdiction
FAYETTE
Zoning & alternative use
R-3 · Lexington, KY
Zoning R-3 · permitted uses
R-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
OFFICE BUILDING Current
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$4.0M
RETAIL STORES
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
MEDICAL 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
1989
Heating
YES
Cooling
Yes
Stories
31
Lot
0.83 ac
Current owner
From public records · entity-resolved
450 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
450 OLD VINE ST STE #100, LEXINGTON, KY 40507-1544
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Aug 26, 2024
$2,550,000
450 LLC
Old Vine Properties LLC
Warranty 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.
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