Development Lot

551-553 East Third Street Lexington, KY 40508

551-553 East Third Street, Lexington, KY, 40508
551-553 East Third Street, Lexington, KY, 40508
FOR SALE
Property Type:
Commercial Land Development
Amount:
$250,000
Last Verified:
Feb 22, 2018

NAI Isaac is pleased to present a great opportunity to establish your business in the East End Neighborhood with numerous mixed-use redevelopment projects underway! +/-0.219 acre near the corner of East Third Street and Midland Avenue. Proposed area redevelopment projects include the Community Ventures Corporation' s $30M mixed-use project, the Midland Avenue TIFF District, the Main & Vine mixed-use 50,000 SF project and many others. Zoned B-1, Neighborhood Business. Additional properties for sale by same owner at 539, 547 & 549 East Third Street.

 

The property is situated in Lexington's Central Business District on East Third Street near Midland Avenue. Located at the eastern gateway to downtown makes this a strategic location targeting local, regional and national users. Several mixed-use developments are planned in the immediate area for the near future.

The property is situated in Lexington's Central Business District on East Third Street near Midland Avenue. Located at the eastern gateway to downtown makes this a strategic location targeting local, regional and national users. Several mixed-use developments are planned in the immediate area for the near future.


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Map of 551-553 East Third Street, 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.