Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 Broadway, Unit 602 Lexington, KY 40508-3126

    • Retail space
    • 5,374 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $1,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0506247
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 600 Broadway

    Year built
    1950
    Lot size
    0.07 lot acres
    Property size
    5,374 SF
    Zone code
    B-4
    Property type
    Retail space
    APN
    13170200
    APU
    13170200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,201,000
      Market price range: $581k - $1.60M
      AI Estimate
      $1,197,000
      Market price range: $581k - $1.59M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,045,000
      Current use
      AUTO REPAIR, GARAGE
      $1,965,000
      Change: +88% Conversion: Difficult
      RESTAURANT
      $1,755,000
      Change: +68% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,435,000
      Change: +37% Conversion: Easy
      OFFICE BUILDING
      $1,120,000
      Change: +7% Conversion: Easy
      MEDICAL BUILDING
      $1,105,000
      Change: +6% Conversion: Difficult
      WAREHOUSE, STORAGE
      $940,000
      Change: -10% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $890,000
      Change: -15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5073
    Latitude
    38.0435
    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
    $0.00
    $0.00
    $0.00
    $798,000
    -
    $0.00
    $0.00
    $798,000

    Comparable in this City

    • Value Estimation
      $6,060,000
      56,054 SF

      101 Loudon Ave

      RETAIL STORES (PERSONAL SERVICES) • 56,054 SF
      101 Loudon Ave, Lexington, KY 40508-1502
      View Details
    • Value Estimation by Request
      943 SF

      212 Maxwell St

      RETAIL STORES (PERSONAL SERVICES) • 943 SF
      212 Maxwell St, Lexington, KY 40508-2506
      View Details
    • Value Estimation by Request
      2,572 SF

      217 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 2,572 SF
      217 Cedar St, Lexington, KY 40508-2901
      View Details
    • Value Estimation by Request
      2,854 SF

      185 Eastern Ave, Unit 191

      RETAIL STORES (PERSONAL SERVICES) • 2,854 SF
      185 Eastern Ave, Lexington, KY 40508-1955
      View Details
    • Value Estimation by Request
      2,200 SF

      112 4th St

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      112 4th St, Lexington, KY 40508-3719
      View Details
    • Value Estimation by Request
      2,000 SF

      383 Georgetown St

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      383 Georgetown St, Lexington, KY 40508-1213
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Suite Near UK Campus

      1,906 SF retail space with high visibility near UK.
      535 S Upper St, Lexington, KY 40508
      View Details
    • Contact for pricing

      Retail Suite Near UK Campus

      Retail space with high foot traffic near University of Kentucky.
      535 S Upper St, Lexington, KY 40508
      View Details
    • Contact for pricing

      Retail Space Near UK Campus

      Retail leasing opportunities in mixed-use complex near University of Kentucky.
      685 South Limestone, Lexington, KY 40508
      View Details
    • $3,150,000
      2.38 Acres

      Downtown Lexington Development Site

      2.38 acres, flexible zoning, prime location.
      0 Midland Ave & Short St, Lexington, KY 40508
      View Details
    • Contact for pricing
      200,000 SF

      Distillery District Redevelopment Opportunity

      Redevelopment opportunity in the heart of The Distillery District.
      1170 Manchester St, Lexington, KY 40508
      View Details
    • $218,000
      Pending

      Renovated Corner Commercial Property

      Turn-key commercial building with high visibility and B-1 zoning.
      400 Chestnut St, Lexington, KY 40508
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,451 SF

      Retail Space in Lexington Innovation Community

      Retail/Restaurant space available in Lexington's Innovation Community with ample parking.
      405 S Limestone, Lexington, KY 40508
      View Details
    • $30 SF/Yr
      305,420 SF

      Lexington Retail Space - HUB On Campus

      Prime Retail Space, UK Campus, 3,478 SF
      685 Limestone, Lexington, KY 40508
      View Details
    • Contact for pricing
      3,150 SF

      Retail Space Near Kentucky University

      New mixed-use retail space near the University of Kentucky.
      665-693 S Limestone, Lexington, KY 40508
      View Details
    • $30 SF/Yr
      349 SF

      Retail Space in Lexington Innovation

      Retail space available in Lexington's first innovation community.
      405 S Limestone, Lexington, KY 40508
      View Details
    • $13 SF/Yr
      3,360 SF

      Lexington Flex Space Available

      Flex space near downtown with easy access and showroom potential.
      858 W Main St, Lexington, KY 40508
      View Details
    • $8 SF/Yr
      Pending

      Renovated Flex/Industrial Space Available

      Newly renovated flex/industrial facility in premier mixed-use development.
      176 Turner Commons Way, Lexington, KY 40508
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    600 Broadway, Unit 602
    Lexington, KY 40508-3126
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!