2387 Professional Heights, Lexington, KY 40503

$1,150,000
Property Type: Commercial Sale Square Footage: 28,352 Lot Size (sq. ft.): 127,631 Status: Closed
Current Price: $1,150,000 List Date: 1/15/2019 Last Modified: 9/03/2025

Overview

Description

+/- 28,352 SF Office building priced well below replication cost. 50% Occupied and cash flowing. Roof has 12 years left of warranty. Great for an owner occupant , investor or prime for redevelopment. Potential to rezone to R-4 High Density Apartments. Close to new retail center with Jason's Deli and Coffee Shop. Potential to add value by putting underground detention chambers and filling in existing basin.

Listing Details MLS# 1900965

Listing Information

Property Sub Type
Hotel/Motel

Status Change Information

Price Change Timestamp
2019-05-28T15:20:53Z
Status Change Timestamp
2019-05-28
Purchase Contract Date
2019-03-05
Close Date
2019-05-23
Close Price
1150000
Buyer Financing
Conventional
Sale Type
Non-Arms Length Sale
Concessions Comments
N/A

Address

County
Fayette
Street Number
2387
Street Name
Professional
Street Suffix
Heights
State
KY
Zip Code
40503

Contract

Original List Price
1300000
Start Showing Date
2019-01-01
Listing Contract Date
2019-01-01
Listing Agreement
Exclusive Right To Sell
Occupant Type
Tenant
Office Exclusive YN
No
SP/LP
0.88

Tax Legal

MLS Area Major
003 - Fayette County SE
Subdivision Name
Commercial

Interior

Living Area
28352

More Information

Parking Information

Parking Total
56

Building

Year Built
1969
Stories Total
2

Lot

Lot Size Acres
2.93
Lot Size Square Feet
127630.92

Remarks

Public Remarks
+/- 28,352 SF Office building priced well below replication cost. 50% Occupied and cash flowing. Roof has 12 years left of warranty. Great for an owner occupant , investor or prime for redevelopment. Potential to rezone to R-4 High Density Apartments. Close to new retail center with Jason's Deli and Coffee Shop. Potential to add value by putting underground detention chambers and filling in existing basin.

Tax & Legal

Tax Rate
1.2774
Zoning Description
B-1/P-1
Directions
Just off Nicholasville Road and Malabu across from Jason's Deli

Association/Community

Number Of Buildings
1

Special Listing Conditions

Standard
Yes

Business Type

Hotel/Motel
Yes
Professional/Office
Yes

Sale Includes

Building(s)
Yes
Land
Yes

Property Features

Business Type: Hotel/Motel; Professional/Office Sale Includes: Building(s); Land Special Listing Conditions: Standard
Listing Office: The Gibson Company
Last Updated: September - 03 - 2025
Information deemed reliable but not guaranteed.
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