161 N Limestone,Lexington, KY 40507
Lexington, KY 40507
Description
Rarely available downtown building with upscale renovations throughout. First Floor owner-occupied by Georgie's Social House with Lease back preference/potential for fresh 5-year term open closing. https://georgieslexington.com Second Floor on a recent Lease with 5-year term through October 2030 (Relix Bridal, Inc.): https://relixbridal.com Third floor offers common kitchenette and restrooms with individual office suites that historically lease for $750/month. Now vacant to accommodate new owner preference as it could be easily converted to a single office space for owner use, or for new single-tenant lease, or to continue as individual office suites which typically lease quickly. Complete renovations in 2020 included new roof, hardwood floors throughout, elevator (coded for private access), new lobby with mail room, 2 kitchenettes, 2 restrooms per floor, new HVAC systems, interior and exterior paint, handicap accessible ramp, and attractive and creative office look on floors 2 and 3 with exposed brick and open ceilings. Location Description: -Prime Downtown Location on popular N Limestone Street @ corner of Church Street -Across from the Courthouse, making it attractive to attorneys and various office users -Surrounded by downtown staple restaurants like Le Deauville, Corto Y Lima, Pearl's, Lussi Brown Coffee, Jack Brown's, and more Property Highlights: -A classic 3-story building with an elevator, this is one of the most historic buildings in Downtown Lexington -Opportunity for owner occupancy, or as investment opportunity given seller lease back potential + recent second floor lease on 5-year term, and potential for quick activiation of new office lease(s) on the third floor -This offering has been intentionally timed and structured to accommodate variety of Buyer preferences - from establishing new owner/use possibilities, buyer preferred tenancies, or toward furthering the existing seller tenancy opportunities
Details
| MLS # | 26004750 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1930 |
| Days On Site | 167 |
| Listing Provided By | Block + Lot Real Estate | Gregory Leveridge |
Features
| SQ Feet | 7,343 |
|---|---|
| Basement | Y |
| Building(s) | 1 |
| Zoning | Other |
| Acreage | 0.05 |
Exterior
| Construction Materials | Brick |
|---|
Area Information
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40507 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Commercial |
| Listing VS Median (in Commercial) | |
Price: $1,825,000 low | high Med: $89,450 sqft: 7,343 low | high Med: 2,383 $ / sqft: $249 low | high Med: $38 On site: 167 low | high Med: 54 | |
Market Activity 40507
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Learn More About This Property
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40507 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Commercial |
| Listing VS Median (in Commercial) | |
Price: $1,825,000 low | high Med: $89,450 sqft: 7,343 low | high Med: 2,383 $ / sqft: $249 low | high Med: $38 On site: 167 low | high Med: 54 | |
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