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161 N Limestone
Lexington, KY 40507
Office Property For Sale
Investment Highlights
- A classic 3-story building with an elevator, this is one of the most historic buildings in Downtown Lexington
- This offering has been intentionally timed and structured to accommodate variety of Buyer preferences
- Opportunity for owner occupancy, or as investment opportunity given seller lease back potential + recent second floor lease on 5-year term, leasback
Executive Summary
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
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 Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
7,343 SF
Building Class
C
Year Built/Renovated
1930/2020
Price
$2,487,365 CAD
Price Per SF
$338.74 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,448 SF
Building FAR
1.12
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
B-2B - Downtown Business
Amenities
- Air Conditioning
Property Taxes
| Parcel Number | 10940300 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,229,781 CAD |
Property Taxes
Parcel Number
10940300
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,229,781 CAD
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