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Investment Highlights
- 3.04 acres with 373 feet of road frontage
- Additional parcels available
- Explosive growing corridor
Executive Summary
Offering a rare development opportunity in one of Lexington’s fastest growing corridors, this 3.04-acre parcel features substantial road frontage on highly traveled South Lake Drive. Zoned ID (Intensive Development), the site is ideal for commercial or mixed-use ventures. A 2-story residence (approx. 2,056 sq ft*) sits on the parcel, currently configured as a 3-bed, 2-bath home, providing flexibility during transition to redevelopment. Additional adjoining parcels are available, allowing for assemblage and scale.The region is seeing major momentum: a 402-home residential project is slated directly across the street, and major retail anchors including Walmart and a new Target development are nearby. With high visibility, infrastructure already in place, and strong growth indicators, this property is uniquely positioned for investors, developers, or end users seeking long-term upside.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
Building Size
2,056 SF
Building Class
C
Year Built
1960
Price
$450,000
Price Per SF
$218.87
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
1,028 SF
Building FAR
0.02
Lot Size
3.04 AC
Zoning
RD - ID Intensive Development
Amenities
- Fenced Lot
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 006500-03-021 | Improvements Assessment | $3,408 |
| Land Assessment | $2,592 | Total Assessment | $6,000 |
Property Taxes
Parcel Number
006500-03-021
Land Assessment
$2,592
Improvements Assessment
$3,408
Total Assessment
$6,000
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1551 S Lake | 1551 S Lake Dr
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