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483 W Reynolds Rd 5.89 Acres of Commercial Land Offered at $7,500,000 in Lexington, KY 40503
INVESTMENT HIGHLIGHTS
- prime location, could enjoy higher density zoning, frontage access, development would meet a community need
EXECUTIVE SUMMARY
Ashland Avenue Baptist Church is pleased to present 5.89 AC of R-4 property (5.37 ac developable) located at 483 West Reynolds Road in Lexington, Kentucky (Fayette Co.). Situated near the major New Circle-Nicholasville Road interchange (80,000 ADT) in Kentucky’s second largest city, this property is in a prime location for medium-high density residential development in a growing community facing a housing shortage of 20,000+ units.
PROPERTY HIGHLIGHTS
• Visibility to New Circle Road (69,347 vehicles per day)
• Conveniently located within 1 mile of Ashland Avenue Baptist Church, Lexington Christian Academy, Stonewall Elementary, Jessie Clark Middle School, Fayette Mall, The Mall at Lexington Green, Shillito Park, Wellington Park, Meijer, Lexington Fire Station 15, and a host of restaurants, banks, services, and more
• Within 3 miles of major hospitals (UK, Baptist, St. Joseph) and within 6 miles of downtown Lexington and Blue Grass Airport (LEX)
• Could enjoy R-5 zoning benefits
PROPERTY HIGHLIGHTS
• Visibility to New Circle Road (69,347 vehicles per day)
• Conveniently located within 1 mile of Ashland Avenue Baptist Church, Lexington Christian Academy, Stonewall Elementary, Jessie Clark Middle School, Fayette Mall, The Mall at Lexington Green, Shillito Park, Wellington Park, Meijer, Lexington Fire Station 15, and a host of restaurants, banks, services, and more
• Within 3 miles of major hospitals (UK, Baptist, St. Joseph) and within 6 miles of downtown Lexington and Blue Grass Airport (LEX)
• Could enjoy R-5 zoning benefits
PROPERTY FACTS
| Price | $7,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 5.89 AC |
| Property Type | Land | ||
| Zoning | R4 - Medium Density Residential | ||
| Price | $7,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 5.89 AC |
| Zoning | R4 - Medium Density Residential |
1 LOT AVAILABLE
Lot
| Price | $7,500,000 | Lot Size | 5.89 AC |
| Price Per AC | $1,273,344.65 |
| Price | $7,500,000 |
| Price Per AC | $1,273,344.65 |
| Lot Size | 5.89 AC |
5.89 AC of R-4 medium density residential property (5.37 AC developable)
PROPERTY TAXES
| Parcel Number | 38018710 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $5,516,300 |
PROPERTY TAXES
Parcel Number
38018710
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$5,516,300
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Presented by
Ashland Avenue Baptist Church
483 W Reynolds Rd
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