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565 New Cir Rd Lexington, KY 40505-2771

Retail space Google Maps
13,520 SF 0.88 ac lot Built 1987
Entity Owned 16-yr Hold Absentee Owner Free & Clear
No photos on file
For Sale
Contact for pricing 13,520 SF
565 New Cir Rd, Lexington, KY 40505-2771
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Estimated value (blended)
$1.56M
Range $1.40M – $1.71M (±10%)
Property ID US34-0124279

Property summary

AI-generated overview

Sterling Center, located at 565 E New Circle Rd in Lexington, KY, presents a compelling retail investment opportunity. This multi-tenant commercial property boasts a total of 13,500 square feet, with 1,000 square feet currently available for lease. The property is zoned for commercial use and is conveniently situated on East New Circle Road, between Winchester and Bryan Station Roads, ensuring high visibility and accessibility for businesses. The property's APN is 10619050, and it is located within Fayette County. This prime location offers excellent potential for a variety of retail businesses seeking exposure to a significant customer base. The existing infrastructure provides a solid foundation for immediate occupancy, minimizing upfront investment costs. The available 1,000 square feet offers flexibility for businesses of various sizes, making it an ideal space for expansion or a new venture. The property's strategic location within Lexington, coupled with its ample square footage and convenient access, makes it an attractive proposition for businesses seeking a thriving retail environment. Serious inquiries are encouraged to explore this exceptional opportunity to establish or expand a retail presence in a high-traffic area of Lexington, Kentucky. The property is designated under Commercial zoning.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1987
Total area 13,520 SF
Lot 0.88 ac (38,115 SF)
Zoning code B-3
APN 10619050
UPID US34-0124279

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
  • Tax Preparation
  • Restaurant
  • Alternative Medicine Practice Spa & Massage Center
  • Employment Agency
  • Employment Agency

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.23M
Blend (final) Blend
$1.56M

Owner & transaction history

since 2010
1 recorded transaction
2010
$4.7M

Zoning & alternative use

B-3 · Lexington, KY
Zoning description

ional parking regulations.) (d) Screening. Landscaping and screening shall be provided as required in Article 18 . (e) Lot, Yard, and Height Requirements. Lot and yard requirements shall be as for the Corridor Business (…

General category COMMERCIAL
Top alternative use upside
Commercial (general) $3.0M +57.1%
Apartment house (5+ units) $3.0M +56.4%
Medical building $2.8M +45.6%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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