Sign Up Successful!
You now have access to more from Realmo!
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

    627 Martin Luther King Blvd Lexington, KY 40508-1186

    • Residential income homes
    • 5,760 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2375559
    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

    • Residential income homes

    Property Details for 627 Martin Luther King Blvd

    Year built
    2007
    Lot size
    0.17 lot acres
    Property size
    5,760 SF
    Zone code
    R-3
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    12872100
    APU
    12872100

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $595,000
      Market price range: $595k - $1.96M
      AI Estimate
      $595,000
      Market price range: $595k - $1.96M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $955,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4839
    Latitude
    38.0529
    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
    $2,968
    $0.00
    $0.00
    $240,000
    -
    $0.00
    $0.00
    $240,000

    Comparable in this City

    • Value Estimation
      $895,000
      3,412 SF

      167 Jefferson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,412 SF
      167 Jefferson St, Lexington, KY 40508-2171
      View Details
    • Value Estimation by Request
      1,910 SF

      253 Arlington Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,910 SF
      253 Arlington Ave, Lexington, KY 40508-2783
      View Details
    • Value Estimation by Request
      1,744 SF

      375 Woodland Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,744 SF
      375 Woodland Ave, Lexington, KY 40508-3268
      View Details
    • Value Estimation by Request
      4,080 SF

      425 Uppr St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,080 SF
      425 Uppr St, Lexington, KY 40508-2228
      View Details
    • Value Estimation by Request
      4,803 SF

      710 Charles Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,803 SF
      710 Charles Ave, Lexington, KY 40508-1123
      View Details
    • Value Estimation by Request
      1,680 SF

      670 674th N Uppr St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,680 SF
      670 674th N Uppr St, Lexington, KY 40508
      View Details

    Similar Nearby for Sale

    • $225,000
      1,176 SF

      Lexington Duplex Investment Opportunity

      Well-maintained duplex near downtown Lexington, offering immediate cash flow.
      148 York St, Lexington, KY 40508
      View Details
    • New
      $450,000
      Pending

      Lexington Multifamily Investment Opportunity

      Investment property near campus, leased through July 2026.
      545 Columbia Ave, Lexington, KY 40508
      View Details
    • $639,900
      3,109 SF

      Historic Triplex in Woodward Heights

      Three apartments near downtown Lexington, suitable for Airbnb or conversion.
      311 Madison Pl, Lexington, KY 40508
      View Details
    • $205,000
      1,021 SF

      Lexington Duplex with Income Potential

      Studio-style duplex in Lexington, offering investment or owner-occupancy opportunity.
      422-424 E Second St, Lexington, KY 40508
      View Details
    • $15,500,000
      7.00 Acres

      Distillery District Redevelopment Opportunity

      Commercial property in Lexington's Distillery District with redevelopment potential.
      1170 Manchester St, Lexington, KY 40508
      View Details
    • $245,900
      665 SF

      Lexington Condo Near UK Campus

      Corner unit condo near University of Kentucky with modern amenities.
      220 Cedar St, Lexington, KY 40508
      View Details

    Similar Nearby for Lease

    • $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
    • $18 SF/Yr
      18,264 SF

      Lexington Office Space: The Commons

      Class A Office, 4,080 SF Available
      144 Turner Commons Way, Lexington, KY 40508
      View Details
    • $19 SF/Yr
      6,848 SF

      Downtown Lexington Creative Office Space

      Renovated historic building with modern amenities in downtown Lexington.
      146 E Third St, 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
    • $75,000
      189,922 SF

      Lexington Development Land Opportunity

      Prime Downtown Lexington lots, ideal for retail & more.
      525 De Roode St, Lexington, KY 40508
      View Details
    • $2,500 /Mo
      2,131 SF

      Lexington Commercial Building with Fenced Yard

      Commercial building for lease featuring a fenced yard.
      312 Thompson Rd, 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.
    627 Martin Luther King Blvd
    Lexington, KY 40508-1186
    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.