850 De Roode St, Lexington, KY 40508

Property Description

We are pleased to present a ±0.46-acre R-4 multifamily development site for sale just west of downtown Lexington. A 2022 development plan for a four-story, 16-unit / 30-bedroom apartment building totaling ±16,928 SF is available for review, along with the 2022 architectural plans, civil plans, geotechnical report, and renderings. The plan's site statistics show 14 two-bedroom and 2 one-bedroom units, 8 of them designated affordable, with 24 parking spaces. Buyer to verify current plan status, variances, and any expiration with LFUCG Planning. Located at the corner of De Roode Street and Valley Avenue, the property is under half a mile from the Distillery District and within about 1.5 miles of downtown, Rupp Arena and Central Bank Center, and the University of Kentucky. The property sits on Lexington's near west side between the W. High Street / Versailles Road (US-60) corridor and the Distillery District along Manchester Street, where historic distillery buildings and new development house restaurants, breweries, the James E. Pepper Distillery, a music hall, and a boutique hotel. Downtown Lexington, Rupp Arena and Central Bank Center, The Red Mile, the University of Kentucky, and Transylvania University are all within about 1.5 miles. Property Highlights: -+/- 0.46-acre R-4 zoned site with a 2022 development plan (four story, 16 units - 30 bedrooms, +/-16,928 SF) available for review -2022 architectural and civil plans, geotechnical report, and renderings available for review -Under half a mile to the Distillery District, within about 1.5 miles of Downtown Lexington, Rupp Arena/Central Bank Center, and the University of Kentucky -Corner site with frontage on De Roode Street and Valley Avenue -Located in a federally-designated Qualified Opportunity Zone