Lexington, August 11, 2025
News Summary
A historic property at 401 W. Main St. in Lexington has been sold for $600,000, attracting attention due to rising interest in the area. The site includes a century-old home with redevelopment potential. With city investments in parks and infrastructure improvements, the appeal of Main Street is growing, contributing to a thriving commercial landscape. Recent population growth in Lexington also adds to its attractiveness as a destination for new businesses and residents.
Lexington
A historic property located at 401 W. Main St. in Lexington has recently been sold for $600,000. The sale, which has garnered attention due to increasing interest in the area, was executed by a group of investors led by James Kirkland. The 3½-acre site includes a century-old home that once served as a doctor’s office.
The property is strategically positioned near the intersection of two prominent commercial corridors in Lexington, raising its value and potential for redevelopment. While Kirkland did not reveal specific plans for the property, he expressed optimism regarding future development in the area.
This uptick in interest along Main Street comes as the city invests in enhancements such as parks and traffic improvements. These initiatives have made properties within this proximity increasingly attractive to buyers. For example, the building housing Alodia’s Cucina Italiana at 101 W. Main St. was recently sold for $2.4 million.
The commercial landscape of the area has been expanding with the openings of new establishments, including restaurants like O’Hara’s Public House, Keg Cowboys, Bodhi Thai, Craft Axe Throwing, and Bubba’s Biscuit. This growth is reflective of a broader trend in Lexington County, where the population rose by 1.5% in 2019, exceeding South Carolina’s overall growth rate of 1.3%.
Over the last decade, Lexington’s population has surged by 24%, now exceeding 22,000 residents. This increase has been attributed largely to the area’s well-regarded schools. The property at 401 W. Main St. had been vacant for the past ten years and may be eligible for historic tax credits, which could attract further investment.
The building, originally constructed in 1903, carries significant historical and sentimental weight. It was formerly operated as a doctor’s office by Dr. James Steele and Dr. Albert Thomas, having opened its doors in April 1956. Seller Tracy Steele, associated with Dr. Steele, noted the property’s substantial historic value.
In addition to the property sale, Lexington County is in the midst of a property reassessment process, which will influence home values and tax rates. The last assessment occurred in 2020, and the new evaluations will reflect property transactions, including the sale of this historic property, starting in 2024. Homeowners will have a 90-day period to appeal assessments they believe are unreasonably high when new notifications are distributed in the spring.
Potential Impact of Property Developments
The sale of the historic building and the thriving commercial activities reflect a positive trend in Lexington’s economic growth. The stability and attractiveness of the area are likely to continue as investments in infrastructure improve the overall quality of life for residents.
Future Prospects
As developments continue around Main Street, community members can anticipate enhanced services, increased property values, and a vibrant business environment. The forthcoming changes promise to maintain the town’s growth momentum and nurture the community’s appeal.
Frequently Asked Questions
What historic property was sold in Lexington?
The property at 401 W. Main St., which includes a 100-year-old home and a 3½-acre site, was sold for $600,000.
Why is there growing interest in Main Street Lexington?
Growing interest is driven by city investments in parks, traffic improvements, and a rise in new restaurants and businesses in the area.
What other developments are happening in Lexington County?
Lexington County is undergoing a property reassessment process that will affect home values and taxes, with new assessments based on property transactions starting in 2024.
Key Features
| Feature | Details |
|---|---|
| Property Sale Price | $600,000 |
| Property Size | 3½ acres |
| Historical Significance | Built in 1903, formerly a doctor’s office |
| Population Growth in Lexington | 24% over the last decade |
| Other Recent Sales | Alodia’s Cucina Italiana sold for $2.4 million |
Deeper Dive: News & Info About This Topic
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Additional Resources
- Post and Courier: Historic Doctors Office Sells for $600,000
- The State: Local Real Estate News
- Columbia Business Report: Lake Murray Estate Sale
- WLTX: Lexington County Property Assessments
- Post and Courier: Lake Murray Estate Sales
- Wikipedia: Real Estate in the United States
- Google Search: Lexington County real estate
- Encyclopedia Britannica: Real estate
- Google News: Lexington real estate
Author: STAFF HERE LEXINGTON WRITER
The LEXINGTON STAFF WRITER represents the experienced team at HERELexington.com, your go-to source for actionable local news and information in Lexington, Fayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Woodland Art Fair, Crave Food and Music Festival, and Railbird Festival. Our coverage extends to key organizations like Commerce Lexington and Blue Grass Community Foundation, plus leading businesses in education, manufacturing, and technology that power the local economy such as University of Kentucky, Toyota Motor Manufacturing, and Lexmark. As part of the broader HERE network, including HEREBowlingGreen.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
