948 Manchester Street, Lexington, KY 40508

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Office, Industrial
Catylist Listing ID: 30825177
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Status: Pending/Contingent
Building Size (RSF): 6,621 SF
Gross Building Area: See Agent
Gross Land Area: 0.48 SF
Sale Price: $950,000
Unit Price: $143.48 PSF
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 6,621 SF
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/30/2022

Overview / Comments

Block + Lot is pleased to present this free-standing 6,621 SF (per PVA), mixed-use property at 948-950 Manchester Street. The property was constructed in 1973 (per PVA) and sits on 0.48 acres of B-4 (Wholesale Warehouse) land, with an adaptive reuse overlay which allows a multitude of uses including retail, office, warehouse, etc. There is a parking lot consisting of approximately 14 spaces plus free street parking along the side road (Willard Street). The property is currently configured into 3 sections, the first is an open room with concrete floors and a restroom, the second is a turn-key office with a large open office area including an exposed kitchen, two private offices, and one large storage closet, and the third section is a large open room. Connecting the second and third sections is a small hallway with men’s and women’s restrooms off of it. In addition, there is an exposed courtyard in the property which could make beautiful outdoor space or be covered to create additional square footage.

The property is ideally located in close proximity to not only the Distillery District, but the newly renovated Central Bank Center, and the new Town Branch Park & Town Branch Commons. Town Branch Commons is a public-private park system that traces the historic Town Branch Creek through downtown Lexington. Town Branch Commons is composed of Town Branch Park and Town Branch Trail. The trail is a 3.2-mile trail system through the heart of downtown Lexington connecting 22 miles of protected bike and pedestrian paths. Legacy Trail and Town Branch Trail join at Town Branch Park.

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Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 13630300
Zoning: B-4/ADAPTIVE REUSE
Area Description: The property is located on Manchester Street near the historic Distillery District. The property is located across from an upscale boutique hotel which is advertised to include 125 rooms, four restaurant and bar spaces, a rooftop bar, event space, and a salon. The property is surrounded by various uses including retail, residential, industrial, and office making it a great location for many types of users.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1973
Total Parking Spaces: 14
Zoning Description: Wholesale Warehouse/Adaptive Reuse

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,123 116,749 224,039
Median Age: 29.35 34.19 35.56
Households: 7,561 48,089 94,235

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