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    2428 Palumbo Dr, Unit 120 Lexington, KY 40509

    For Lease
    $9 SF/Yr ($2,911 /Mo)

    COMMERCIAL - Lexington, KY

    Property size:
    3,882 SF
    Lot size:
    1.03 Acres
    Days on Market:
    85
    Last Refresh:
    Dec 5 at 10:06 am

    Property Features for 2428 Palumbo Dr

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    10478585
    Parking
    55
    Size
    3,882 SF
    Lot size
    1.03 Acres

    Building Details

    Year built
    1975
    Floors in Building
    1

    Block + Lot Real Estate 3090099

    Listing agent Peter Barr (859) 309-0099

    Listing date Sep 12, 2025

    Copyright © 2025 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lexington Flex Space Available

    The property at 2428 Palumbo Drive is a 19,388 square foot flex/industrial facility situated on 1.03 acres. Constructed from concrete block in 1975 and renovated in 2012, the building is zoned I-1 (Light Industrial). Suite 120 offers a versatile space featuring approximately 35% office area and 65% warehouse space. The office component includes two private offices, an open office area, and a restroom. The warehouse area is equipped with a 10' x 12' drive-in door. The building features fluorescent lighting, a 16' clear height, and 3-phase electric power. Approximately 45 parking spaces are available, and building signage is available for tenants. The property is located between New Circle Road and Man O War Boulevard, offering close proximity to I-75 and I-64.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VSR Manufacturer Triple Crown Auto ... Auto Glass Shop Bluegrass Bids Auction House Pipe Helper Pipe Supplier

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.448715
    Latitude
    38.019558

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    FAQs

    What type of property is this?
    Flex space - Versatile flex space with office and warehouse components for lease.
    Where is this flex space located?
    The property is located at 2428 Palumbo Dr, Unit 120 Lexington, KY.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: - Strategic location between New Circle Road and Man O War Blvd, with close proximity to I-75/I-64.; - Versatile flex space with approximately 35% office and 65% warehouse areas.; - Benefit from **16' clear height, 10' x 12' drive-in door, and 3-phase electric power.**
    (859) 309-0099
    Request Owner's contact information
    2428 Palumbo Dr, Unit 120 Lexington, KY 40509
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    Lexington, KY 40509
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2428 Palumbo Dr, Unit 120 Lexington, KY 40509
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