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Property profile & analytics
OFF-MARKET
Estimated value
$12,280,000
Industrial properties
920 Citation Blvd Lexington, KY 40511-8314
Entity Owned
Absentee Owner
Free & Clear
Property ID
US34-2054206
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
2010
Total area
74,534 SF
Zoning code
P-2
APN
38266490
UPID
US34-2054206
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.45M
Blend (final)
Blend
$12.28M
Owner & transaction history
WALL STREET PARTNERS III
WALL STREET PARTNERS III
Zoning & alternative use
P-2 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to provide for a mixture of compatible office and research uses in a campus setting that adheres to high quality standards, Residential and retail and hotel or motel uses are intended to be supportive uses for the organizations located on the research campus
Zone name
University Research Campus
General category
CIVIC_INSTITUTIONAL
Zone area
694.49 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,540,000
Current use
APARTMENT HOUSE (5+ UNITS)
$16,460,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$15,330,000
Change: -7% · Conversion: Easy
RETAIL STORES
$14,485,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$13,835,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$12.28M
Range $11.05M – $13.51M · ±10%
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
$165 / 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
$66,776
Tax year 2023
Assessed value
$5,400,000
Assessed 2023
Previous assessed
$5,400,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$5,400,000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
2010
Total area
74,534 SF
Zoning code
P-2
APN
38266490
UPID
US34-2054206
Jurisdiction
FAYETTE
Zoning & alternative use
P-2 · Lexington, KYZoning P-2 · permitted uses
P-2 · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to provide for a mixture of compatible office and research uses in a campus setting that adheres to high quality standards, Residential and retail and hotel or motel uses are intended to be supportive uses for the organizations located on the research campus
Zone name
University Research Campus
General category
CIVIC_INSTITUTIONAL
Zone area
694.49 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$16.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.5M
MEDICAL BUILDING
Est. value
$15.3M
RETAIL STORES
Est. value
$14.5M
OFFICE BUILDING
Est. value
$13.8M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
2010
Current owner
From public records · entity-resolved
WALL STREET PARTNERS III
Entity
Free & Clear · 0 yrs held
Mailing address
400 METRO PL N STE #100, DUBLIN, OH 43017-3340
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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