Iconic Downtown Lexington Office
For Sale
$3,790,000
277 E High Street, Lexington, KY 40507
COMMERCIAL - Lexington, KY
Property Size12,684 SF
Lot Size0.39 Acres
Price / SF$298.80
Days on Market100
Property Features for 277 E High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-2B
Rooms
Basement
Parking
34
Basement
Finished, Walk-Up Access
Subdivision
Downtown
Directions
High Street cross over Rose Street. Building is on your right.
Standard status
Active
APN
14636600
Size
12,684 SF
Lot size
0.39 Acres
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Heat Pump (Heating), Zoned
Cooling system
Heat Pump, Electric, Zoned
Building Details
Year built
1975
Floors in Building
3
Building materials
Steel Frame, Brick, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
Christopher Mitchell · License #197495
(859) 321-2898
Added: Apr 22
Changed: Jun 26
Last Checked: Jul 30 at 11:06PM
MLS# 26008699
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.
This iconic office building in downtown Lexington presents a highly visible space with redevelopment potential. Position your brand at the center of it all. The property offers a combination of high-profile visibility and convenience in the heart of downtown Lexington. Situated on a high-traffic corridor, the building's striking architecture provides a "billboard effect", capturing the attention of thousands of commuters and pedestrians daily. The building features a dedicated onsite parking lot, providing access for employees and a stress-free experience for visiting clients. The location provides access to Lexington's vibrant core, minutes away from the District Courts, City Hall, and the city's finest dining, coffee shops, and banks. The building consists of 24 offices, 8 half baths, 2 break areas, 1 training room, server room, file room, 2 copy rooms and a reception area. The property, situated on a 0.39-acre lot, offers 12,684 square feet of space. This building offers the identity and infrastructure required for your next chapter of growth.
Key Highlights
- High‑Profile Visibility: Iconic building with striking architecture provides a 'billboard effect' on a high‑traffic corridor.
- Onsite Private Parking: Dedicated parking lot eliminates the downtown parking challenge for employees and clients.
- Prime Downtown Location: Walkable access to District Courts, City Hall, dining, coffee shops, and banks.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.3k | $18.00 |
| − Vacancy | −$39.3k | −$3.10 |
| EGI | $189.0k | $14.90 |
| − OpEx | −$47.3k | −$3.73 |
| NOI | $141.8k | $11.18 |
12,684 SF · lease $18.00/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.03M
$1.77M – $2.36M
NOI $141,782 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,988 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,951
Businesses Nearby
Explore this area
Business Placement
Demographics for 40507, KY
2,043
Population
1,765
Households
1.2
Avg Household Size
44
Median Age
54%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
5,108
Density / Sq Mi
$34,543
Median Household Income
$40,826
Median Earnings
$642
Median Rent
$391,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Highly visible office space with redevelopment potential in downtown Lexington.
Where is this office building located?
The property is located at 277 E High Street Lexington, KY.
What is the asking price?
The asking price for this property is $3,790,000.
What are key features of this property?
This property features: High‑Profile Visibility: Iconic building with striking architecture provides a 'billboard effect' on a high‑traffic corridor.; Onsite Private Parking: Dedicated parking lot eliminates the downtown parking challenge for employees and clients.; Prime Downtown Location: Walkable access to District Courts, City Hall, dining, coffee shops, and banks.
