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165 Midland Ave
Lexington, KY 40508
Retail Property For Sale

Investment Highlights

  • Non-metered street parking permitted
  • Exceptional visibility
  • Two utility rooms with washer/dryer hookups
  • Located in the Opportunity Zone
  • Five bathrooms & four showers

Executive Summary

Positioned just outside the Central Business District, this 14,000± SF commercial building offers exceptional visibility along busy Midland Avenue and direct exposure to The Legacy Trail, creating a prime signage and branding opportunity. The 26± parking spaces support customers and staff alike.
Built in 1949 and thoughtfully updated over time, the property blends character with modern functionality. Its current layout - currently a fitness facility - features expansive open areas, private offices upstairs, and three drive-in doors that enhance operational flexibility. With B-4 zoning, the building is well-suited for office, showroom, storage, or a combination of uses.
Location Description: The site sits on the corner of Midland Ave. and Corral St. adjacent to Thoroughbred Park and across the street from the new Fayette County Public Schools Career and Technical Education Building. The site has excellent proximity to Lexington’s emerging entertainment districts, the Central Business District, the UK Medical Center, and local arts and Downtown park features. The site also enjoys easy access to the events at the Convention Center, Rupp Arena, and the University of Kentucky, and the thriving East End of Downtown. The newly constructed Town Branch Commons makes the intersection of Midland and Corral pedestrian friendly and presents itself as an entrance to Downtown Lexington.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Health Club
Building Size
14,719 SF
Building Class
C
Year Built/Renovated
1949/2015
Price
$2,600,000
Price Per SF
$176.64
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
2 Exterior
Building FAR
0.66
Lot Size
0.51 AC
Opportunity Zone
Yes
Zoning
B-4
Parking
12 Spaces (0.81 Spaces per 1,000 SF Leased)
Frontage
150’ on 165 Midland Ave

Amenities

  • Fenced Lot

Property Taxes

Property Taxes

Parcel Number
11418900
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,135,000
  • Listing ID: 40322081

  • Date on Market: 4/28/2026

  • Last Updated:

  • Address: 165 Midland Ave, Lexington, KY 40508

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