150 Northland Drive, Lexington, KY 40505

$3,150,000
Property Type: Residential Income Square Footage: 62,008 Lot Size (sq. ft.): 242,629 Status: Closed
Current Price: $3,150,000 List Date: 2/25/2016 Last Modified: 8/26/2025

Overview

Description

The Biscayne Apartments are a multi-family investment property located in North Lexington, inside of New Circle Road. The property sustains high levels of historical occupancy as it is located in the up and coming North Limestone corridor. The site operates as a 78-unit apartment complex consisting of 30 one-bedroom units and 48 two-bedroom units totaling 62,008 SF. Included in the offering and adjacent to the Biscayne Apartment complex is 1.86 acres of R-3 zoned land that is approved to support 36 additional units and 54 parking spaces. The land offers 100 yards of prime road frontage on North Limestone Street (NoLi).

Listing Details MLS# 1603301

Status Change Information

Price Change Timestamp
2016-05-19T14:31:44Z
Status Change Timestamp
2016-05-19
Purchase Contract Date
2016-03-04
Close Date
2016-05-19
Close Price
3150000
Buyer Financing
Other
Sale Type
Arms Length Sale
Concessions Comments
na

Address

County
Fayette
Street Number
150
Street Name
Northland
Street Suffix
Drive
State
KY
Zip Code
40505
Directions
The property is located in the popular North Limestone corridor that has seen significant growth in recent years. The surrounding area is primarily commercial and single family buildings. It is in close proximity to New Circle Road.

Contract

Original List Price
3350000
Start Showing Date
2016-02-11
Listing Contract Date
2016-02-11
Listing Agreement
Exclusive Right To Sell
Office Exclusive YN
No
List Price/Acre
601436.27
List Price/SqFt
54.03
Sold Price/Acre
565529.62
Sold Price/SqFt
50.8
SP/LP
0.94

Tax Legal

MLS Area Major
001 - Fayette County NW
Subdivision Name
Commercial

Interior

Living Area
62008
Bathrooms Half
0

Building

Year Built
1970

More Information

Lot

Lot Size Acres
5.57
Lot Size Square Feet
242629.42

Remarks

Public Remarks
The Biscayne Apartments are a multi-family investment property located in North Lexington, inside of New Circle Road. The property sustains high levels of historical occupancy as it is located in the up and coming North Limestone corridor. The site operates as a 78-unit apartment complex consisting of 30 one-bedroom units and 48 two-bedroom units totaling 62,008 SF. Included in the offering and adjacent to the Biscayne Apartment complex is 1.86 acres of R-3 zoned land that is approved to support 36 additional units and 54 parking spaces. The land offers 100 yards of prime road frontage on North Limestone Street (NoLi).

Tax & Legal

Zoning Description
R-3

Special Listing Conditions

Standard
Yes

Property Features

Special Listing Conditions: Standard
Listing Office: Block + Lot Homes
Last Updated: August - 26 - 2025
Information deemed reliable but not guaranteed.
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