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

    746 Westland Dr Lexington, KY 40504-1005

    • Industrial properties
    • 10,942 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Oct 21, 2020
    $900,000
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0521525
    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

    • Micah Group Environmental Contractors, Inc. / Environmental Consultant
    • Collision Masters of Lexington West / Auto Body Shop / Car Repair And Maintenance Service

    Property Details for 746 Westland Dr

    Year built
    1978
    Lot size
    0.33 lot acres
    Property size
    10,942 SF
    Zone code
    I-2
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    13000154
    APU
    13000154

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $725,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5451
    Latitude
    38.0596
    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
    $10,679
    $0.00
    $0.00
    $863,600
    -
    $0.00
    $0.00
    $863,600

    Comparable in this City

    • Value Estimation by Request
      14,550 SF

      726 Werne Dr, Unit 736

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 14,550 SF
      726 Werne Dr, Lexington, KY 40504-1009
      View Details
    • Value Estimation by Request
      5,845 SF

      1317 Cahill Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 5,845 SF
      1317 Cahill Dr, Lexington, KY 40504-1167
      View Details
    • Value Estimation by Request
      6,750 SF

      107 Trafton St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 6,750 SF
      107 Trafton St, Lexington, KY 40504-1174
      View Details
    • Value Estimation by Request
      16,550 SF

      742 Werne Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 16,550 SF
      742 Werne Dr, Lexington, KY 40504-1020
      View Details
    • Value Estimation by Request
      14,060 SF

      731 Werne Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 14,060 SF
      731 Werne Dr, Lexington, KY 40504-1008
      View Details
    • Value Estimation by Request
      8,000 SF

      1316 Cahill Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 8,000 SF
      1316 Cahill Dr, Lexington, KY 40504-1164
      View Details

    Similar Nearby for Sale

    • $385,000
      0.32 Acres

      Lexington Commercial Land - $385K

      0.32-acre lot, prime Lexington location.
      381 Legion Dr, Lexington, KY 40504
      View Details
    • $1,650,000
      7,060 SF

      Lexington Commercial Property for Sale

      Commercial property in Lexington, KY, featuring 7,060 square feet.
      395 Elaine Dr, Lexington, KY 40504
      View Details
    • $1,350,000
      1,217 SF

      Lexington Executive Office Condos

      Prime location, multiple suites available
      1218 Broadway, Lexington, KY 40504
      View Details
    • $499,000
      6,613 SF

      Lexington Medical Office Condo

      6,613 SF Medical Office - $499,000
      715 Shaker Dr, Lexington, KY 40504
      View Details
    • $159,900
      966 SF

      Renovated Office Condo For Sale

      Move-in ready Lexington office condo with recent upgrades and excellent visibility.
      715 Shaker Dr, Lexington, KY 40504
      View Details
    • $360,000
      Pending

      Versatile Commercial Property in Lexington

      Prime location with high visibility and traffic near downtown Lexington.
      1326 Versailles Rd, Lexington, KY 40504
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      10,080 SF

      705 Werne Dr

      Distribution properties • 10,080 SF
      705 Werne Dr, Lexington, KY 40504
      View Details
    • $400 /Mo
      180 SF

      Second Floor Office Space

      Second floor office space for lease, $400 per month.
      1099 S Broadway, Lexington, KY 40504
      View Details
    • $5,391 /Mo

      Retail Space Near University of Kentucky

      Retail space for sublease near the University of Kentucky.
      1030 South Broadway, Lexington, KY 40504
      View Details
    • $20 SF/Yr
      3,082 SF

      Lexington Medical Office Suite

      3,082 SF Medical Office - For Sale/Lease
      1401 Harrodsburg Rd, Lexington, KY 40504
      View Details
    • $900 /Mo
      Pending

      Lexington Office Space For Rent

      Office space for rent in Lexington, Kentucky.
      537 Waller Ave, Lexington, KY 40504
      View Details
    • $1,750 /Mo

      Harrodsburg Road Duplex For Rent

      Second floor duplex with utilities included, featuring three bedrooms.
      1775 Second St, Lexington, KY 40504
      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.
    746 Westland Dr
    Lexington, KY 40504-1005
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.