Development Land Near Liberty Road/New Circle Road

Vacant Land for Sale
Catylist Listing ID: 30791012
Property Subtypes: Multi-Family, Residential (Single Family)
Gross Land Area: 2.47 Acres
Sale Price: $699,000
Unit Price: $282,995 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/3/2022

Overview / Comments

Block + Lot is pleased to present this rare land listing for sale just outside of New Circle Road in Lexington, KY. 766 Paradise Lane, off Liberty Road, consists of +/- 2.47 acres of land currently zoned R-1B for Single Family Residential. (Acreage to be confirmed by Purchaser). The tract of land is surrounded by households, including both single family homes and multi-family units, and is in close proximity to Turner Business Center, one of Lexington's largest flex developments. It is also adjacent to the Fayette County Public Schools transportation terminal.

The property is prime for a number of redevelopment uses including single family home lots or a multi-family development. Tracts of this size in Lexington are limited especially in in this developed area off of Liberty Road between New Circle Road and Man O' War.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 24391700
Zoning: R-1B (SINGLE FAMILY RESIDENTIAL)
Largest Nearby Street: Liberty Road
Site Description: 2.47 acres (to be verified by Purchaser)
Area Description: 766 Paradise Lane is located just 0.3 miles from the intersection of Liberty Road and New Circle Road and less than 2.5 miles from Man O' War Blvd. in Lexington, KY. With an MSA over 645,000, Lexington is the second largest market in the Commonwealth of Kentucky. Lexington provides a strategic location for businesses through access to a highly educated labor force, low startup and operational costs, and its below average cost of living.
Zoning Description: R-1B (Single Family Residential)
Available Utilities: Electric, Water, Gas, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,480 111,138 223,298
Median Age: 32.61 35.25 34.39
Households: 5,518 48,092 96,215

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