Property profile

503 3rd St Lexington, KY 40508

OFF-MARKET
Retail space
Property ID
US34-0653122
8,512 SF 0.17 ac lot Built 1938
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This Lexington, Kentucky office property is located in the Aspen Heights area along the Third and Midland Avenue corridor, near downtown Lexington. The building is zoned B-1 Neighborhood Business. It is configured to offer customizable suites, with suite sizes ranging from approximately 788 square feet up to just over 7,300 square feet. The parcel is 0.083 acres and the overall property size is 3,628 square feet, with proximity to local venues and amenities including The Met, the Lyric Theatre, Artist Village, and Isaac Murphy Park.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1938
Total area 8,512 SF
Lot 0.17 ac (7,532 SF)
Zoning code B-1
APN 13135000
UPID US34-0653122

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Shopping Center & Mall

Location

503 3rd St Lexington, KY 40508-1612
Lexington metro Census 400 LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$625k

Owner & transaction history

since 2022
Last sale
$455,000
2 recorded transactions
2022
$455,000
2010
$270,000

Zoning & alternative use

B-1 · Lexington, KY
Zoning description

2. The principal permitted uses of the P-1 and B-1 zones, except as specifically prohibited hereinbelow. (c) Accessory Uses. The following shall be considered accessory uses in the MU-1 zone: 1. The accessory uses permit…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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