Six-Bay Auto
For Sale
$890,000
1015 Lexington Road, Georgetown, KY 40324
COMMERCIAL - Georgetown, KY
Property Size4,000 SF
Lot Size0.55 Acres
Price / SF$222.50
Days on Market149
Property Features for 1015 Lexington Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B 2
Subdivision
Downtown
Directions
South Broadway to property on right.
Standard status
Active
APN
168-10-314.000
Size
4,000 SF
Lot size
0.55 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air
Amenities
paved parking
office space
restrooms
loft
200 amp service
gas heat
central heat and air
Building Details
Year built
2005
Floors in Building
1
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
Coldwell Banker McMahan
(502) 867-4900
Listed By:
Carl M Tackett · License #187325
(502) 863-7775
Added: Mar 17
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 26005424
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2005, this 4,000-square-foot steel-frame auto shop occupies 0.551 acres and includes six service bays, a loft, office space, and two restrooms. The work area has natural-gas heat, while the office is served by central heating and air conditioning. A metal roof, public sewer, cable availability, and 200-amp electrical service are also included. The property is being sold in AS IS condition.
Automotive equipment includes three 9,000-pound lifts, two 12,000-pound lifts, and an air compressor. Paved parking supports the facility, which has access from S Broadway and Marshall Park Drive. The property is equipped for automotive service operations and offers warehouse-related functionality within its existing configuration.
Automotive equipment includes three 9,000-pound lifts, two 12,000-pound lifts, and an air compressor. Paved parking supports the facility, which has access from S Broadway and Marshall Park Drive. The property is equipped for automotive service operations and offers warehouse-related functionality within its existing configuration.
Key Highlights
- 4,000‑square‑foot auto shop on 0.551 acres
- Six service bays with loft and two restrooms
- Three 9,000‑pound lifts and two 12,000‑pound lifts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,062
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,240
$761.2K
Cap Rate 7%
$543,743
$543.7K
Cap Rate 9%
$422,911
$422.9K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.6K $14.40/SF
− Vacancy
−$3.2K −$0.81/SF
EGI
$54.4K $13.59/SF
− OpEx
−$16.3K −$4.08/SF
NOI
$38.1K $9.52/SF
Area
Scott County, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,240
Cap Rate 7%
$543,743
Cap Rate 9%
$422,911
Alternative Uses
Best Use
Retail
$543.7K
$475.8K – $634.4K
NOI $38,062 @ 7.0% cap · market cap 4.28%
Second Best
Warehouse
$410.9K
$359.6K – $479.4K
NOI $28,764 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.01M
$887.0K – $1.18M
NOI $70,963 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40324, KY
51,035
Population
20,570
Households
2.5
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
155.1 sq mi
ZIP Area
329
Density / Sq Mi
$83,012
Median Household Income
$47,619
Median Earnings
$1,188
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Ken Towery’s Tire & Auto Care — 131 Southgate Dr, Georgetown, KY 40324
- Firestone Complete Auto Care — 111 Marketplace Cir, Georgetown, KY 40324
Frequently Asked Questions
What type of property is this?
Auto shop - Steel-frame automotive facility with service bays, lifting equipment, office space, and paved parking.
Where is this auto shop located?
The property is located at 1015 Lexington Road Georgetown, KY.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 4,000‑square‑foot auto shop on 0.551 acres; Six service bays with loft and two restrooms; Three 9,000‑pound lifts and two 12,000‑pound lifts
