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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Office buildings
649 Bizzell Dr, Lexington, KY 40510-1004
Entity Owned
~
Est. High Equity
Property ID
US34-0462931
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
8,964 SF
Lot
3.42 ac (148,801 SF)
Zoning code
I-1
APN
15468525
UPID
US34-0462931
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Innovative Demolition Service LLC Construction Company General Contractor
-
BESCO Electrical Electrical Service General Contractor
-
Concrete Coring Company of Central KY Construction Company General Contractor
-
W. Rogers Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.65M
Comparable Approach
Comparable
$2.47M
Blend (final)
Blend
$2.39M
Owner & transaction history
Broadway Electric Service Company L
Broadway Electric Service Company L
since 2026
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
I-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.3M
+96.9%
Restaurant
$2.9M
+75.8%
Commercial (general)
$2.0M
+19.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,820,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,780,000
6.5%
$1,645,000
7%
$1,525,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,665,000
Current use
AUTO REPAIR, GARAGE
$3,275,000
Change: +97% · Conversion: Difficult
RESTAURANT
$2,925,000
Change: +76% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,990,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,980,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$1,845,000
Change: +11% · Conversion: Easy
RETAIL STORES
$1,740,000
Change: +5% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,565,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.08M (Jan 27 2021)
Last sale anchor
$2.08M
Jan 27 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$266 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$25,721
Tax year 2023
Assessed value
$2,080,000
Assessed 2023
Previous assessed
$2,080,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$2,080,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Cooling
WINDOW A/C
Buildings
6
Stories
1
Units
4
Total area
8,964 SF
Lot
3.42 ac (148,801 SF)
Zoning code
I-1
APN
15468525
UPID
US34-0462931
Jurisdiction
FAYETTE
Zoning & alternative use
I-1 · Lexington, KY
Zoning I-1 · permitted uses
I-1 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$3.3M
RESTAURANT
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Cooling
Yes
Stories
1
Buildings
6
Units
4
Lot
3.42 ac
Current owner
From public records · entity-resolved
Broadway Electric Service Company L
Entity
Mailing address
835 PORTER PL, LEXINGTON, KY 40508-3123
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2026
$3,000,000
Broadway Electric Service Company L
Innovative Holdings LLC
Warranty Deed
$2,550,000 · Regions Bank
Aug 27, 2025
—
Innovative Holdings LLC
—
Deed
related
$375,000 · Traditional Bank INC
Mar 29, 2023
—
Innovative Holdings LLC
—
Deed
related
$750,000 · Traditional Bank INC
Jan 27, 2021
$2,080,000
Innovative Holdings LLC
Wrc 1 LLC
Deed
$1,664,000 · Traditional Bk
Dec 8, 2016
$2,060,000
Wrc1 LLC
W Rogers Co
Deed
$2,060,000 · Central Bk & Tr Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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