131 Cheapside, Lexington, KY 40507
$1,800,000
Property Type:
Commercial Sale
Square Footage:
6,511
Lot Size (sq. ft.):
3,450
Status:
Closed
Current Price:
$1,800,000
List Date:
10/18/2022
Last Modified:
9/03/2025
Listing Details MLS# 22018700
Listing Information
- Comp Sale YN
- No
- Property Sub Type
- Mixed Use
Status Change Information
- Status Change Timestamp
- 2023-02-10
- Purchase Contract Date
- 2022-10-22
- Close Date
- 2023-02-09
- Close Price
- 1800000
- Buyer Financing
- Conventional
- Sale Type
- Arms Length Sale
Address
- County
- Fayette
- Street Number
- 131
- Street Name
- Cheapside
- State
- KY
- Zip Code
- 40507
- Parcel Number
- 11827100
Contract
- Original List Price
- 1890000
- Start Showing Date
- 2022-08-22
- Listing Contract Date
- 2022-08-21
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/SqFt
- 290.28
- Sold Price/SqFt
- 276.46
- SP/LP
- 0.95
Tax Legal
- MLS Area Major
- 002 - Fayette County NE
- Subdivision Name
- Downtown
Interior
- Living Area
- 5320
- Building Area Total
- 6511
More Information
Building
- Basement YN
- Yes
- Year Built
- 1895
- Stories Total
- 3
- Accessibility Features YN
- No
Lot
- Lot Size Acres
- 0.079
- Lot Size Square Feet
- 3450
- Lot Size Dimensions
- 100 x ?
- Road Frontage Feet
- 24
Remarks
- Public Remarks
- This is an opportunity to own a Lexington landmark, noted bar and restaurant and two exquisitely designed and decorated Airbnb units with extraordinary revenue potential, located in the epicenter of the Central Business District. Zoned B2B adjacent to Fifth Third Pavilion at Cheapside, also the home of Lexington's Farmer's market. 131 Cheapside was built in 1895 by W. J. Loughridge, an established hemp and tobacco broker. The architect was Henry Hobson Richardson, a major influencer in architecture for years, whose style would become known as Richardson Romanesque. His style migrated from the east coast across the country, Richardson became famous for his fascination with unusual and sculpted shapes, and individuality. Only two Richardsonian Romanesque style buildings are represented in the downtown district, the Fayette County Courthouse and this adjacent property 131 Cheapside. For 38 years this property was home to Cheapside Bar and Grill. Currently leased as The Horse and Jockey Pub and Kitchen which comprises the ground floor and approximately 2480 sq ft patio plus basement. The second & third floors are two stunning apartments currently used as an AirBnB destinations.. All systems have been updated. The most recent renovation of the Airbnb units was over the last three years which includes a sprinkler system. Each Airbnb unit is 1325 sq ft. All sq ft numbers noted here are approximate and is derived from the PVA measurements of outside dimensions.
Income and Expenses
- Total Actual Rent
- 168000
Showing Information
- Showing Instructions
- Showing time, listing agent will be present for all showings.
Tax & Legal
- Tax Rate
- 1.2727
- Zoning Description
- B-2B - DOWNTOWN CENTER BUSINESS
- Directions
- Located on the corner of West Short and Cheapside.
Utilities
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Construction Materials
- Block
- Yes
- Brick
- Yes
Possession
- Subject To Tenant Rights
- Yes
Security Features
- Fire Sprinkler System
- Yes
Sewer
- Public Sewer
- Yes
Building Features
- Wood Flooring
- Yes
Business Type
- Mixed
- Yes
- Restaurant
- Yes
Existing Lease Type
- Gross
- Yes
Property Features
Utilities:
Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Building Features:
Wood Flooring
Business Type:
Mixed; Restaurant
Construction Materials:
Block; Brick
Existing Lease Type:
Gross
Possession:
Subject To Tenant Rights
Security Features:
Fire Sprinkler System
Sewer:
Public Sewer
Listing Office:
Lifstyl Real Estate
Last Updated: September - 03 - 2025
Information deemed reliable but not guaranteed.