DEVELOPMENT LAND FOR SALE - LoopNet · developable parcels of land within the Urban Service...
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Offering Memorandum: 23.47 acres $1,900,000 1370 Deer Haven Lane Lexington, Kentucky 40509 Mary Grace Hinkle 859.327.2628 [email protected] DEVELOPMENT LAND FOR SALE Jason Taylor 502.472.7546 [email protected]
Transcript of DEVELOPMENT LAND FOR SALE - LoopNet · developable parcels of land within the Urban Service...
Offering
Memorandum:
23.47 acres
$1,900,000
1370 Deer Haven Lane
Lexington, Kentucky 40509
Mary Grace Hinkle859.327.2628
DEVELOPMENT LAND
FOR SALE
Jason Taylor502.472.7546
CONFIDENTIALITY
The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of
considering the acquisition of 1370 & 1380 Deer Haven Lane in Lexington, Kentucky (the “Property”)
described herein and is not to be used for any other purpose or made available to any other person
without the express written consent of Equity Management Group, Inc. (the “Broker”) or Seller. Broker is
acting on behalf of Seller as exclusive agent in connection with the sale of the Property. By your receipt of
this Offering Memorandum, you agree that this memorandum and the information contained herein are of
a confidential nature and that you will hold and treat them in the strictest of confidence and will not,
directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or any part of
the contents. Further, you agree not to discuss this Offering Memorandum with any other institution,
prospective purchaser or tenant without the express permission of Broker and Seller. The material
contained herein is based primarily upon information obtained from the Seller, and although
representatives of the Seller have reviewed this Offering Memorandum, it does not purport to be all-
inclusive or contain all of the information prospective purchasers may desire. Both Seller and Broker
disclaim any liability which may be based on such information, errors therein or omissions therefrom.
Prospective purchasers should make their own investigations, projections, and conclusions and are
expected to conduct their own independent due diligence concerning the Property, including such
engineering inspections as they deem necessary to determine the condition of the Property and the
existence or absence of any potentially hazardous material used in the construction or maintenance of the
building or located at the land site. No representations expressed or implied are made as to the foregoing
matters by Broker or assignees.
Mary Grace Hinkle859.327.2628
Jason Taylor502.472.7546
PROPERTY HIGHLIGHTS
-Irreplaceable land WITHIN LEXINGTON’S URBAN SERVICE BOUNDARY
-Excellent location off burgeoning Polo Club Blvd. and minutes from Hamburg Pavilion
-Rapid population growth in the surrounding area
Mary Grace Hinkle859.327.2628
Jason Taylor502.472.7546
PROPERTY HIGHLIGHTS
-One of the last and largest developable parcels of land within the Urban Service Boundary.
-Currently zoned EAR-1, Expansion Area Residential.
-Adjacent to major housing developments such as Gleneagles, within minutes to the new elementary school.
-Deerhaven can be accessed from Polo Club or Todds Road
-Ideal for development of single family homes and/or multi-family units.
Mary Grace Hinkle859.327.2628
Jason Taylor502.472.7546
PROPERTY AERIAL
PROPERTY AERIAL
DEMOGRAPHICS
Demographics 1 Mile 3 Mile 5 Mile
Population: 5,012 40,971 98,359
Average HH Income: $102,057 $97,653 $76,636
Average HH Value: $269,850 $283,298 $247,157
Mary Grace Hinkle859.327.2628
Jason Taylor502.472.7546
ANNUAL POPULATION GROWTH OF SOURROUNDING NEIGHBORHOOD
1-Mile 3-Mile Lexington CBSA
2005-2010: 4.1% 1.9% 1.1%
2015-2015: 27.6% 9.05% 6.28%
MARKET OVERVIEW
Lexington Location Overview
Economic Overview
Lexington is located in Central Kentucky, in the heart of the Bluegrass region,
approximately 75 miles east of Louisville, 85 miles south of Cincinnati, and 214 miles north
of Nashville. Serving as the county seat of Fayette County, Lexington is the 2nd-largest
city by population in the State of Kentucky and the 61st largest in the United States.
Lexington is located at the convergence of two major interstates, 1-75 and 1-64. I-75 runs
from near Williamsburg to Covington by way of Lexington, and I-64 runs from Louisville to
Ashland via Lexington. New Circle Road, also known as Kentucky Route 4, is a Kentucky
state highway that serves as a city bypass for the city of Lexington, encircling the entire
city. The Bluegrass Airport, located on the western edge of the city, offers 18 regular direct
flights to cities including Atlanta, Charlotte, Chicago, New York, Newark, Detroit, Houston,
Dallas, and Minneapolis.
Lexington is known for its high quality of life, highly educated population, and stable
economy, and has been recognized by publications such as Forbes and Kiplinger for being
one of the nation’s top 5 cities for business and young professionals. The top employer in
Lexington is the University of Kentucky, with 14,000 employees. The University has an
annual budget of $1.4 billion and ranks as the state’s 9th largest economic company.
Lexington is home to Fortune 500 companies Xerox, Lexmark International, Lockheed-
Martin, and IBM, whose total combined employment exceeds 8,000. Other notable
corporate headquarters include Tempur Sealy International, Big Ass Solutions, Florida Tile,
and the Forcht Group of Kentucky. Amazon, United Parcel Service, and Trane also have
large operations in the city, and Toyota Motor Manufacturing is located within the
Lexington CSA. Additionally, Fayette County Schools employs 5,374 people and Fayette
Urban County Government employees 2,699.
Mary Grace Hinkle859.327.2628
Jason Taylor502.472.7546
CONTACT INFORMATION
Corporate OfficeEquity Management Group, Inc.
840 East High Street
Lexington, KY 40502
O: (859) 266-1414
F: (859) 266-6612
For Further Information Regarding this Investment Opportunity:
Contact:
http://www.equity-management.com/
Jason Taylor502.472.7546
Mary Grace Hinkle859.327.2628
