Residential Development Opportunity | 7 R-1E Lots
Land | 1.4 acres
Marketing description
SVN Stone Commercial Real Estate is pleased to present a prime residential development opportunity in Lexington, Kentucky. These 7 parcels combined add up to just over 1.4 acres, with each lot being 40 feet wide and zoned R-1E.
Strategically positioned between Newtown Pike and Russell Cave Road, a major thoroughfare with high traffic volume, the property is surrounded by established residential and commercial developments. With the city's planned extension of Citation Boulevard to connect with Russell Cave Road, the site stands to benefit significantly from improved access and visibility.
This fantastic property offers an excellent opportunity to meet Lexington's growing demand for housing bieng Zoned R-1E with utilities available. According to the Kentucky Housing Corporation, Fayette County currently faces a shortage of 22,589 housing units. This development can play a key role in addressing that critical need.
Investment highlights
- Two 40 foot lots $50,000 each, road and utilities at the property line
- Five undeveloped lots, road and utilities need to be ran to the lots, ($150,000 total for all five)
- All 7 lots are zoned R-1E, (All 7 are 40 foot lots)
- All 7 lots total price $250,000
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