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Downtown Mixed-Use Investment 135 W Main St 11,500 SF Vacant Retail Building Lexington, KY 40507 $2,950,000 ($256.52/SF)
Investment Highlights
- Fully renovated mixed-use building with three floors and basement in the downtown business district.
- First floor occupied by Nic & Norman’s, an established full-service restaurant.
- Surrounded by hotels, dining, entertainment, and parking options within walking distance.
- Prime Main Street exposure with potential for custom building signage.
- Two upper floors configured for modern office use with elevator access and updated systems.
- Located near Rupp Arena, the 21c Museum Hotel, and the City Center development.
Executive Summary
135 W Main Street presents a compelling investment opportunity in the heart of downtown Lexington. This 11,500-square-foot mixed-use property consists of three floors and a basement with recent renovations enhancing its functionality and value. A premier location across from the City Center development and adjacent to the 21c Museum Hotel ensures strong foot traffic and brand visibility. The first floor houses Nic & Norman’s Restaurant, offering immediate income, while the top two floors provide modern office spaces ideal for tenants or future conversion by an owner-user.
Zoned B-2B for Downtown Center Business, the property affords flexibility for retail and office uses. Surrounding amenities include 425 hotel rooms within one block, vibrant dining, and entertainment at Rupp Arena and LexLive. Exceptional accessibility and exposure along Main Street, combined with comprehensive upgrades such as a passenger elevator, updated HVAC systems, and versatile floor plans, make this asset a rare opportunity for buyers seeking long-term value in Lexington’s thriving urban core.
Zoned B-2B for Downtown Center Business, the property affords flexibility for retail and office uses. Surrounding amenities include 425 hotel rooms within one block, vibrant dining, and entertainment at Rupp Arena and LexLive. Exceptional accessibility and exposure along Main Street, combined with comprehensive upgrades such as a passenger elevator, updated HVAC systems, and versatile floor plans, make this asset a rare opportunity for buyers seeking long-term value in Lexington’s thriving urban core.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
11,500 SF
Building Class
B
Year Built
1951
Price
$2,950,000
Price Per SF
$256.52
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.64
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
B-2B - Commercial
Parking
13 Spaces (1.13 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
| Space | Size | Space Use | Position | Available |
| 2nd Floor | 2,907 SF | Retail | - | Now |
| 3rd Floor | 3,834 SF | Retail | - | Now |
2nd Floor
| Size |
| 2,907 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
3rd Floor
| Size |
| 3,834 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Floor
| Size | 2,907 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3rd Floor
| Size | 3,834 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12965400 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,000,000 |
Property Taxes
Parcel Number
12965400
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,000,000
1 of 13
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Downtown Mixed-Use Investment | 135 W Main St
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