Aspen Heights Office
For Lease
$15 SF/Yr
503 E Third Street, Lexington, KY 40508
Commercial Lease, Lexington, KY
Space Size788 SF - 7,300 SF
Lot Size0.08 Acres
Days on Market497
Property Features for 503 E Third Street
General Information
Property type
Commercial Lease
Property subtype
Office
Zoning description
B-1 Neighborhood Business
Subdivision
Downtown
Directions
On East Third St, near the intersection of Third St, Winchester Rd and Midland Ave.
Standard status
Active
APN
13135001
Size
3,628 SF
Lot size
0.08 Acres
Building Details
Year built
1938
Floors in Building
1
Listing Agency:
Guide Realty, Inc.
(859) 263-0305
Listed By:
Chancellor D Scott
(859) 321-6226
Added: Apr 22, 2025
Changed: Aug 26
Last Checked: Aug 31 at 4:06AM
MLS# 25009836
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Investment Insights
Based on property information with market context.
Aspen Heights provides office units at 503 E Third Street in Lexington, Kentucky. Suite configurations range from approximately 788 square feet to just over 7,300 square feet, allowing businesses to consider multiple space requirements within the project. The property dates to 1938 and is positioned along the Third and Midland Avenue corridor near downtown Lexington.
Nearby destinations include The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park. The setting combines office space with access to established cultural, artistic, and recreational destinations in the surrounding area.
Nearby destinations include The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park. The setting combines office space with access to established cultural, artistic, and recreational destinations in the surrounding area.
Key Highlights
- Office suites from approximately 788 square feet to just over 7,300 square feet
- 503 E Third Street location in Lexington, KY 40508
- Built in 1938
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$2.25 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
1,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 40508, KY
25,586
Population
11,458
Households
2.2
Avg Household Size
26
Median Age
36%
College-Educated
86%
High-School Grad
4.2 sq mi
ZIP Area
6,092
Density / Sq Mi
$28,040
Median Household Income
$13,316
Median Earnings
$900
Median Rent
$174,900
Median Home Value
Market
Lease Benchmarks for Lexington, KY
$24.25 /SF/Yr
Avg Asking Price
$1.68–$136 /SF/Yr
Price Range
9,638 SF
Avg Space Size
This space is priced 38% below the average of $24.25 /SF/Yr.
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Customizable office suites are available near downtown Lexington’s cultural and recreational destinations.
Where is this office units located?
The property is located at 503 E Third Street Lexington, KY.
What is the lease rate?
The lease rate is $15 SF/Yr.
What are key features of this property?
This property features: Office suites from approximately 788 square feet to just over 7,300 square feet; 503 E Third Street location in Lexington, KY 40508; Built in 1938
