Sealed Bid Auction - Former Johnson Elementary School - Lexington, KY

Rare Downtown-adjacent Development Opportunity - High Density Population Radius - Three parcels, Offered in Combination.

Surplus Real Estate – Ordered Sold by Fayette County Board of Education

47,790 SF former school building (Johnson Elementary, later Carver STEM Academy) on ±3.09 acres, built 1939 with additions through 1976. Brick masonry construction, gym/auditorium, classrooms, offices, library, cafeteria – Plumbing – Electrical – HVAC access throughout

Highest Density Population - Prime Candidate for Affordable & Elder Residential Conversion

Two adjoining parking parcels (115 & 117 E. Sixth St, ±0.10 acre combined) across Keller Alley.

324ft of Frontage on E. Sixth St, plus alley access on Keller Alley and Glass Alley — three-sided access.

Zoning: R-3 (main campus) permits Multi-Family by right — site is built to only half its allowable density (0.75 FAR). B-1 (outparcels) supports commercial or parking use – Flexible Zoning – Strong Demand!

Zone X FEMA Flood Zone - all Public Utilities Avalable.

A few blocks north of downtown Lexington, ½ Block from N. Limestone St. – LexTran Bus Line stop at Corner

Proximity to major institutions — within a few miles of the University of Kentucky, Transylvania University and downtown Lexington's employment base

Multiple Surplus Sites Available – One of Three former School Locations being Sold through Auction – Contact Tranzon or Schrader Commercial for Details

Clear Title – No Back Taxes – No Liens – Surplus Property Ordered Sold by Fayette County Board of Education – Title Insurance Available

NOTICE: Property Subject to Sale Prior to Auction without Notice

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

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 $25,000 (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 live, online bidding (the “Auction) to be conducted Thursday, December 10 at 1:00 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

For more information contact Jordan Conlee at 270-304-1282 or jconlee@tranzon.com