497 Main St Lexington, KY 40507-1547
Property Lookup
Property profile & analytics
497 Main St Lexington, KY 40507-1547
- Retail space
- 7,766 SF
- 0.24 lot acres
Property ID
US34-0643150
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.
Location Intelligence
Current Use by Public Records
- Ann Greely Interiors / Interior Design / Home Decor Store
Property Details for 497 Main St
- Year built
- 1949
- Lot size
- 0.24 lot acres
- Property size
- 7,766 SF
- Zone code
- B-2A
- Property type
- Retail space
- APN
- 16213475
- APU
- 16213475
Description
This exceptional three-story, 7,272 square foot office building, situated on a 0.24-acre lot in Lexington, KY's Central Business District, presents a compelling investment opportunity. Originally constructed in the 1890s and extensively renovated in 1997, the property boasts a prime location on E. Main Street, enjoying high visibility and significant daily traffic counts (31,393 cars/day). The B-2A zoning allows for flexible uses, including professional office space, retail, or even residential conversion. Features include approximately eight parking spaces with additional options nearby, a basement (square footage not included in the 7,272 SF), monument signage, a freight elevator, and numerous built-in features. Recent improvements include a new roof and fresh paint (2023). The building offers a multitude of spaces, including office areas, conference rooms, showroom space, a break room/kitchenette, and ample storage. Its proximity to desirable neighborhoods (Kenwick, Ashland, Chevy Chase) and nearby amenities (dining, shopping, financial institutions) further enhance its appeal. The asking price is $1,295,000, translating to $178.08 per square foot. This well-maintained property represents a rare chance to acquire a versatile and strategically located asset in a thriving Kentucky market.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,505,000
- AI Estimate
- $1,500,000
Market price range: $839k - $2.32MMarket price range: $839k - $2.30M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,510,000 Current use
- COMMERCIAL (GENERAL)
- $1,725,000 Change: +14% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $1,715,000 Change: +14% Conversion: Difficult
- OFFICE BUILDING
- $1,610,000 Change: +7% Conversion: Easy
- MEDICAL BUILDING
- $1,595,000 Change: +6% Conversion: Difficult
- WAREHOUSE, STORAGE
- $1,355,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.4889
- Latitude
- 38.0397
- 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
$12,366
$0.00
$0.00
$1,000,000
-
$0.00
$0.00
$1,000,000
