Two commercial condominiums in downtown Lexington offered in Tranzon auction

14 Mar, 2024 - Tranzon Asset Advisors

LEXINGTON, Kentucky (March 14, 2024) -- Two commercial condominiums in downtown Lexington’s Booming Historic Old Tarr Distillery District are being offered at auction, with Tranzon Asset Advisors marketing the condominiums and conducting the auction.

The units are in a premier location just a four-minute walk to Rupp Arena and downtown Lexington. Neighboring properties include The Manchester Hotel and Manchester Music Hall concert venue. They are only 100 yards from Premier Lexington’s Towne Branch Park.

The property features themed ballrooms, two full-service bars, private rooms and an open floor plan. They are well suited for multiple tenants or owner-user and tenants.

“These units could sell individually or to a single buyer,” said Tranzon’s Ed Durnil. “In addition to the area features already nearby, a Mexican themed Bodega and LaBrasa is going in next door,” said Durnil. “The owners are retiring from their event center and catering business. Equipment will be offered as a separate package,” he said.

The property includes a large commercial kitchen and space that may be converted for manufacturing, hospitality or commercial functions. The property currently operates as a private event and catering center, with one of the largest commercial kitchens and CBD production facilities in central Kentucky.

“This property has a wide range of potential uses, such as a restaurant, brew pub, sports-themed restaurant or other commercial business,” said Durnil.

Zoning is light industrial, permitting commercial, light manufacturing, business and other uses. The condominiums were appraised for $3.45 million in November 2023.

Bidding will begin at 10 a.m. Monday, April 1, and continue through 3 p.m. on Wednesday, April 3.

Tranzon personnel will be available at the property to accommodate inspections at noon Wednesday, March 27, and at noon Monday, April 1.

Tranzon nationally includes some of the nation’s most highly experienced real estate, marketing and auction professionals.

For more information:
Carl Carter, 205-910-1952
Ed Durnil, 502-741-1331