±10.89ac Redevelopment Site-Corner-Endless Potential
Prime Corner tract (approx. 10.89± acres) at the Signalized Intersection of Spurr Road & Georgetown Road (U.S. 25) in North Lexington's exploding growth corridor. Site includes a 61,279 ± SF, one-story masonry surplus school building (built 1927/1976), 139 parking spaces, and substantial surplus land — only 12.9% site coverage. Property is exceptionally well located for the savvy investor to enter this burgeoning market with a key asset located in the center of the area’s development.
Surrounded by Active and Ongoing Multi-Family, Retail and Industrial Development. Zoned A-U/AR; rezoning to Market or Affordable Multi-Family use is considered reasonably probable given surrounding zoning and market activity. Light Industrial adjacent – Institutional, Retail and Commercial in Immediate Area. Full utilities available to Site and Multiple Access Points for ease of Ingress/Egress.
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Unique Asset at Prime Signalized Corner Location - Site includes a 61,279 ± SF, one-story masonry school building (built 1927/1976), 139 parking spaces, and substantial surplus land — only 12.9% site coverage
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In the Epicenter of Expansion & the Path of Progress – The Property is Exceptionally Located to Nearby Major Industrial, Governmental, Office and world known Manufacturing Concerns within a One-Mile Radius
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Influx of Development Activity - Adjacent to several recently built or under-construction Apartment Communities, evidencing Strong Multi-Family and Affordable Housing Demand in the immediate area – LexTran Bus Line at corner of Spurr & Georgetown Rds.
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Close proximity to Established Retail, Hospitality and Service Enterprises (e.g., Publix, Cracker Barrel, Marriott Griffin Gate, Embassy Suites North and Walmart Supercenter)
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Multiple Access Points – Ingress from Old Georgetown Rd and Spurr Road offer great access to the location – Downtown Lexington 6 only miles south
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Location – Location – Location: Near the UK’s Coldstream Campus, Innovation Industrial Park, Sousley Campus, and other Major Regional Employers – I-75/I-64 interchange less than 2 miles
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Access to Newtown Pike and New Circle Road (KY 4), Lexington's primary inner beltway, both currently undergoing expansion/improvement – Close to Rail & Interstate Transportation
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Public Transportation – Site located on LexTran Bus Route & Nearby Bus Stop
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Planned realignment and widening of Georgetown Road (U.S. 25) just north of the site within the next two years, expected to further improve access and visibility
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Clear Title – No Back Taxes – No Liens – Surplus Property Ordered Sold by Fayette County Board of Education – Title Insurance Available
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NOTICE: Property Subject to Sale Prior to Auction without Notice - The board of education reserves the right to reject any and all bids and final approval by the Kentucky Department of Education is required.
Property is being Sold in Cooperation with Schrader Commercial Properties, LLC | James Schrader, President
The Property is being offered through a Sealed Bid Auction Process (the “Sealed Bid”). Persons or entities wishing to participate in and qualify for the auction event (“Bidder”) are required to submit a fully executed Initial Bid & Binding Purchase Agreement along with a wire transfer of $100,000 (the “Initial Deposit”) no later than 4:00 PM ET, Tuesday, November 10, 2026. A 6% buyer’s premium will be added to the high bid to determine the total sale price. The parties submitting the three (3) highest Sealed Bids and/or those parties submitting Sealed Bids in an amount equivalent to Seventy-Five percent (75%) or more of the amount of the highest Sealed Bid received shall be deemed Qualified Bidders and shall be eligible to participate in a second round of live, online bidding (the “Auction) to be conducted Thursday, November 12 at 2:00 PM ET. After the conclusion of the Sealed Bid or Auction, the winning bidder is required to make an additional deposit (the “Additional Deposit”) to Tranzon in an amount totaling 10% of the total purchase price (the “Total Deposit”) within 24 hours of being declared the winning bidder. The Initial Deposit is credited toward the Additional Deposit and Total Deposit. The balance of the total sale price is due at closing within the timeframe specified in the Initial Bid & Binding Purchase Agreement. Seller may elect to accept the highest Sealed Bid received at its sole discretion. Seller may forego an Auction and convert any future round of bidding to a call for Best & Final Bids at its sole discretion. All Bids are Irrevocable. The Seller will provide a Special Warranty Deed at closing. Please see the Bid Process and Instructions, and a sample Initial Bid & Binding Purchase Agreement for complete sale terms. Property selling in its As Is and Where Is condition, subject to all leases and tenants in possession. Buyers are cautioned to carefully review the property information and terms and conditions. All properties subject to sell prior to the auction without notice.
Tranzon Asset Advisors, Edward D. Durnil, KY Auctioneer #259408/Broker #187998