Canebrake Drive, Lexington, KY 40509 For Sale

Canebrake is an exceptionally rare 62.93± acre development opportunity contiguous to Interstate 75 at Exit 104 in Lexington, Kentucky (Fayette County). Offered as five parcels sold together, the property carries dual zoning — approximately 32 acres of I-1 Light Industrial and approximately 34 acres of R-4 Medium Density Residential — delivering a level of mixed-use flexibility that is virtually impossible to assemble in an established metro corridor. A buyer can pursue an industrial project, a residential community, or a combined master plan on one contiguous site, with city water and electric already available at the road to serve either use.

On the industrial side, the ~32 acres zoned I-1 front directly on I-75, offering premier interstate visibility and logistics connectivity for warehouse, distribution, flex-industrial, and light manufacturing users. The site plugs into Central Kentucky's 500,000+ labor force, the University of Kentucky talent pipeline, and the regional supply chain anchored by the nearby I-75 / I-64 interchange — a compelling position for 3PL operators, e-commerce distribution, and flex-industrial tenants seeking hard-to-find interstate frontage.

On the residential side, the ~34 acres zoned R-4 support a broad spectrum of housing product. Under the Lexington-Fayette ordinance, R-4 permits single-family detached, two-family, townhouse, and multi-family dwellings — opening the door to a premium single-family subdivision, a townhome or multi-family community, build-to-rent product, a blended residential plan, or an age-restricted / active-adult community. The site sits adjacent to the Sayre School Athletic Facility and the Lexington Sporting Club for strong family appeal, and a natural wet-weather creek adds amenity value for community and open-space planning. Lexington's sustained housing demand continues to drive strong absorption for well-located new product.

Currently in productive farmland use, Canebrake is a development-ready canvas with road access via Athens Boonesboro Road onto Canebrake Drive, city utilities at the road, and minimal existing improvements to work around. Minutes from downtown Lexington and the University of Kentucky and positioned in the heart of a Central Kentucky logistics hub, it is a rare, entitlement-flexible offering that will attract multiple buyer interest across industrial, residential, and mixed-use development. Buyers should verify all zoning, permitted uses, densities, and development standards with the Lexington-Fayette Urban County Government.