Corner Development Lot

1114-1118 North Broadway Lexington, KY 40508

1114-1118 North Broadway, Lexington, KY, 40508
1114-1118 North Broadway, Lexington, KY, 40508
FOR SALE
Property Type:
Other Land
Amount:
$250,000
Last Verified:
Dec 16, 2019

Highlights

  • +/-.5166 AC corner lot
  • Situated at the corner of North Broadway and 12th Street
  • North Broadway has an average daily traffic count of +/-15,424 ('16) near the site
  • 150 feet of frontage on North Broadway
  • Being sold for potential rezone from R-1C (Single Family Residential) to B-1 (Neighborhood Business)
  • LFUCG Zoning Ordinance https://www.lexingtonky.gov/zoning-ordinance
  • Located less than 1 mile to downtown Lexington and has easy access to New Circle Road and Interstates I-75/64
  • Property may be eligible to benefit from incentives for investing in Opportunity Zones - to learn more visit http://www.thinkkentucky.com/OZ/
  • Sale Price: $250,000

Description

NAI Isaac is pleased to present +/-.5166 AC corner lot near downtown Lexington for sale. The lot is situated at the corner of North Broadway and 12th Street with 150 feet of frontage on North Broadway. The lot is being sold for potential rezone from R-1C to B-1.

Located on North Broadway near Loudon Avenue. The property is located less than 1 mile to downtown Lexington and has easy access to New Circle Road and Interstates I-75/64. Presently, 10,500 employees are working in Lexington's Central Business District. North Broadway has an average daily traffic count of +/-15,424 ('16) near the site. This property may be eligible to benefit from incentives for investing in Opportunity Zones - to learn more visit http://www.thinkkentucky.com/OZ/.

Lot Size: 0.52 acres

Map of 1114-1118 North Broadway, Lexington, KY, 40508

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.