Lexington’s Next Great Redevelopment | 3.26+/-Acres/145,000sf | Auction
Rare 3.26± acre redevelopment site on Lexington's Active East Main Street corridor, offered exclusively at Auction by Fayette County Public Schools. Includes the historic 1928 Guy S. Potts Building (former Henry Clay High School) plus classroom annex, gymnasium/auditorium, and the John Ambrose office building —
145,382 SF total across 3 parcels. Make Plans Now to Participate in the Auction Sale of this Fantastic and Rare Offering!
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145,382 SF Total across 3 Buildings – Includes the remarkable 1928 (former Henry Clay High School) plus classroom annex, gymnasium/auditorium, and the John Ambrose office building!
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Zoning – R-3, B-1, R1D — Mixed-Use/Multi-Family Development and Main Street Commercial potential
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Tri-Street Frontage & Access — Rare multi-directional access on East Main Street (US 25) and Walton Avenue, plus secondary access via the 10-foot Champe Alley — uncommon for an infill urban site and a major advantage for development flexibility
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Primary Arterial Exposure — East Main Street/Richmond Road is one of the key corridors connecting downtown Lexington to the eastern metro area, carrying substantial commercial-arterial traffic volumes
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Proximity to Everything Lexington — Approximately 0.8 miles east of the Central Business District, within comfortable walking/cycling distance of downtown employment, shopping, healthcare and entertainment
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Near University of Kentucky — Approximately 1.5 miles from the UK campus & UK Healthcare, aligning with Strong Demand from Student Housing, Elder Residential Housing and Mixed-Use Residential market – Located on main LexTran bus line
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Corner Site Visibility — Corner exposure at East Main Street and Walton Avenue enhances signage and identity for future development uses
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Surrounded by Active Development & Commercial/Professional Enterprises — Located amid significant recent and planned Multi-Family/Mixed-use Activity, including The Maxwell (under construction), The Standard, The Verve, and the former YMCA redevelopment site – Professional Offices – Restaurants – Retail & Historic Residential abound in the immediate vicinity of this site
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Established Commercial & Residential Corridor — Current neighborhood blends commercial uses (retail, office, restaurants) with established historic residential districts (Aylesford Place, Mentelle Park, Kenwick, Ashland Park)
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No Historic Overlay Restriction — Despite the 1928 building's historic character, no locally or federally designated historic overlay was identified, preserving development flexibility – buyers should confirm all use restrictions prior to bidding
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Clear Title – No Back Taxes – No Liens – Surplus Property Ordered Sold by Fayette County Board of Education – Title Insurance Available
IMPORTANT NOTICE: IN ACCORDANCE WITH KRS 424.130(1)(b) 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
All Property sold in “as-is, where-is condition. 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 $250,000 (the “Initial Deposit”) no later than 4:00 PM ET, Tuesday, December 8, 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 online bidding (the “Auction) to be conducted on Thursday, December 10th at 1:00 p.m. 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 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.
Property is being Sold in Cooperation with Schrader Commercial Properties, LLC | James Schrader, President
Tranzon Asset Advisors, Edward D. Durnil, KY Auctioneer #259408/Broker #187998