Sold at auction – property in Lexington, KY, located at 539 W. New Circle Rd., near Lexmark. This prime development property was sold at absolute auction (no minimum, no reserve) on August 12th at 10:30 AM. The property sold for $127,600.

The property is zoned B-3, and is well suited for a fast food restaurant, bank, medical facility, retail shopping or professional office space as well as any number of other commercial uses.

Prime development property in Winchester, KY, located at the NW quadrant of Exit 96 on I-64, adjacent to the Winchester Industrial Park, that was sold at Absolute Auction on June 24th at 10:30 AM. The property sold for $330,000 including buyer’s premium.

The property is zoned B-4, General Business District, and is well suited for a fast food restaurant, bank, medical facility, hotel, retail shopping center or professional office space as well as any number of other commercial uses.

Call it a sign of the times. Rising demand for services to accommodate struggling property owners compelled by a tough economy to sell in a sluggish sales environment has prompted the launch of a new firm, Schrader and Robertson Commercial Auctioneers, LLC. The company has positioned itself in anticipation of a growth market.

“We are optimistic about the long-term real estate market in Lexington,” said Lexington commercial properties specialist Jamie Schrader. “Fortunately we are not as subject to some of the major real estate problems that are occurring in some of the coastal communities — certainly in Florida — or some of the high-growth communities such as Phoenix. But with changing economic conditions, the overvalued real estate market and some of the unemployment issues, we do anticipate that there will be excess inventory in both the residential and commercial markets that will need to be sold via auction.”