761-763 E Seventh Street, Lexington, KY 40505

$1,555,000

Property Type: Commercial Sale Square Footage: 27,507 Lot Size (sq. ft.): 42,840 Status: Closed

Current Price: $1,555,000 List Date: 9/12/2022 Last Modified: 9/03/2025

Overview

Description

Appx 27,507 SF industrial facility located on a 0.98 acre lot. Office/warehouse building is appx 22,000 sq ft and includes the owner occupied space which is a completely remodeled showroom and office space with reception and office areas and a very nice public bathroom. The warehouse space is divided into 3 sections. The property offers 2 dock doors, 1 drive-in door, 1 overhead door, suspended gas heat, 3-phase electric, concrete flooring, building signage, an abundance of parking. New roof. on front 2 buildlngs. The two story office space on the far right is currently leased and features an open floor plan with hardwood floors on the 1st floor, original shell condition on the 2nd floor, and an unfinished basement that connects to the warehouse building. Three small areas of the property have short term leases until April/May 2023 and total income of $3500/month. Priced at recent appraisal

Listing Details MLS# 22020349

Listing Information

Comp Sale YN: No
Property Sub Type: Industrial

Status Change Information

Status Change Timestamp: 2022-12-05
Purchase Contract Date: 2022-09-26
Close Date: 2022-12-01
Close Price: 1555000
Buyer Financing: Cash
Sale Type: Arms Length Sale
Concessions Comments: No

Address

County: Fayette
Street Number: 761-763
Street Direction Prefix: E
Street Name: Seventh
Street Suffix: Street
State: KY
Zip Code: 40505
Parcel Number: 26469850

Contract

Original List Price: 1685000
Start Showing Date: 2022-09-12
Listing Contract Date: 2022-09-10
Listing Agreement: Exclusive Right To Sell
Owner Name: Stones and Granite, LLC
Occupant Type: Occupied
Office Exclusive YN: No
List Price/SqFt: 61.26
Sold Price/SqFt: 56.53
SP/LP: 0.92

Tax Legal

MLS Area Major: 002 - Fayette County NE
Subdivision Name: Commercial

Interior

Living Area: 27507
Building Area Total: 27507

More Information

Parking Information

Parking Total: 35

Building

Basement YN: Yes
Year Built: 1950
Stories Total: 2

Lot

Lot Size Acres: 0.983
Lot Size Square Feet: 42840
Road Frontage Feet: 170

Remarks

Public Remarks: Appx 27,507 SF industrial facility located on a 0.98 acre lot. Office/warehouse building is appx 22,000 sq ft and includes the owner occupied space which is a completely remodeled showroom and office space with reception and office areas and a very nice public bathroom. The warehouse space is divided into 3 sections. The property offers 2 dock doors, 1 drive-in door, 1 overhead door, suspended gas heat, 3-phase electric, concrete flooring, building signage, an abundance of parking. New roof. on front 2 buildlngs. The two story office space on the far right is currently leased and features an open floor plan with hardwood floors on the 1st floor, original shell condition on the 2nd floor, and an unfinished basement that connects to the warehouse building. Three small areas of the property have short term leases until April/May 2023 and total income of $3500/month. Priced at recent appraisal

Building and Property Details

# of Dock Doors: 2
# of Drive-in Doors: Yes
# of Men's Restrooms: Yes
# of Women's Restrooms: Yes
Maximum Ceiling Height: 14
Warehouse SqFt: 22220
Electricity Phase: 3

Showing Information

Showing Instructions: Occupied by an ongoing business. One tenant is unavailable Wednesday night after 5. Most of the building is occupied by the owner.

Tax & Legal

Tax Rate: 1.2727
Zoning Description: I-1
Directions: Winchester Rd, Just inside New Circle Rd to E. Seventh St, close to I-75

Association/Community

Number Of Buildings: 1

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Construction Materials

Block: Yes

Possession

Negotiable: Yes
Subject To Tenant Rights: Yes

Roof

Flat: Yes
Membrane: Yes

Security Features

Fire Sprinkler System: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Building Features

Concrete Floor: Yes
Vinyl Flooring: Yes
Wood Flooring: Yes

Business Type

Industrial: Yes
Mixed: Yes
Warehouse: Yes

Ceiling

Dropped: Yes
Open: Yes

Docks

Automatic: Yes
Manual: Yes

Electric

3 Phase: Yes

Sale Includes

Building(s): Yes
Land: Yes

Documents

Appraisal: Yes

Property Features

Utilities: Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Building Features: Concrete Floor; Vinyl Flooring; Wood Flooring Business Type: Industrial; Mixed; Warehouse Ceiling: Dropped; Open Construction Materials: Block Docks: Automatic; Manual Electric: 3 Phase Possession: Negotiable; Subject To Tenant Rights Roof: Flat; Membrane Sale Includes: Building(s); Land Security Features: Fire Sprinkler System Sewer: Public Sewer Special Listing Conditions: Standard Documents: Appraisal

Listing Office: Horse Capital Realty

Last Updated: September - 03 - 2025

Information deemed reliable but not guaranteed.