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2387 Professional Heights Drive

Lexington, KY 40503
  • $1,650,000
  • STATUS: Active
  • ON SITE: 36 Days
  • MLS #: 22023182
$1,650,000
  • 0
    BEDS
  • 2.93
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1969
County:

School Ratings & Info

Description

Professional Heights is a rare investment or redevelopment opportunity off Nicholasville Road, Lexington's primary retail and healthcare corridor. Situated on 2.93 acres, 2387 Professional Heights Drive is a 28,352 SF (per PVA) two story multi-tenant office building. Included in the 2.93 acres is a parcel of land that allows for access from Malabu Drive.Built in 1969, the property has undergone significant renovations and capital improvements under its current ownership. In 2022, the roof of the building was replaced and the parking lot resurfaced and striped. The property is zoned P-1 (Professional Office) and offers 52 surface parking spaces. Principal uses of Professional Office include assisted living facilities, hospitals, and childcare centers. Extended stay hotels are a Conditional Use of the Professional Office zone. The current vacancy can be used by an owner occupant or as a value add opportunity for the new owner to increase rents and restructure leases. The proforma Cap Rate is 8.07%.

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Lexington-Bluegrass Association of Realtors logo
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Bluegrass REALTORS® Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Better Homes and Garden Real Estate Cypress are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
www.lexingtonkyhomesearch.com/homes/134142925
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2387 Professional Heights Drive Lexington, KY 40503

  • Price: $1,650,000
  • Status: Active
  • On Site: 36 Days
  • MLS #: 22023182
0
Beds
0
Baths
0
½ Baths
2.93
Acres
1969
Built
Neighborhood:
Commercial
County:
Fayette
Area:
Fayette County Sw 4
Property Description
Professional Heights is a rare investment or redevelopment opportunity off Nicholasville Road, Lexington's primary retail and healthcare corridor. Situated on 2.93 acres, 2387 Professional Heights Drive is a 28,352 SF (per PVA) two story multi-tenant office building. Included in the 2.93 acres is a parcel of land that allows for access from Malabu Drive.Built in 1969, the property has undergone significant renovations and capital improvements under its current ownership. In 2022, the roof of the building was replaced and the parking lot resurfaced and striped. The property is zoned P-1 (Professional Office) and offers 52 surface parking spaces. Principal uses of Professional Office include assisted living facilities, hospitals, and childcare centers. Extended stay hotels are a Conditional Use of the Professional Office zone. The current vacancy can be used by an owner occupant or as a value add opportunity for the new owner to increase rents and restructure leases. The proforma Cap Rate is 8.07%.
Property Features

Business Type BusinessProfessional/Office Current Zoning P-1 Tax Rate 1.2366

Bluegrass REALTORS® logo Listing provided courtesy of Alaina Stokes of Block + Lot Real Estate: (859) 309-0099 . Listing information © 2022 Bluegrass REALTORS® Multiple Listing Service. All rights reserved.
Lexington-Bluegrass Association of Realtors logo
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Bluegrass REALTORS® Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than Better Homes and Garden Real Estate Cypress are marked with the IDX logo and detailed information about them includes the name of the listing IDX Brokers. Information is deemed reliable but is not guaranteed accurate by the MLS or listing broker.
 
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3399 Tates Creek Rd., Suite 150
Lexington KY, 40502
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