Customizable Office
For Lease
$15 SF/Yr
505 E Third Street, Lexington, KY 40508
Commercial Lease, Lexington, KY
Space Size788 SF - 7,300 SF
Lot Size0.07 Acres
Days on Market497
Property Features for 505 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
13135000
Size
2,895 SF
Lot size
0.07 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 2:06AM
MLS# 25009700
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Investment Insights
Based on property information with market context.
Office space is available within the Aspen Heights development, with customizable suites ranging from approximately 788 square feet to just over 7,300 square feet. The property dates to 1938 and is positioned along the Third and Midland Avenue corridor.
The address is 505 E Third Street in Lexington, Kentucky. Nearby destinations include The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park, placing the office setting near established cultural and community destinations.
The address is 505 E Third Street in Lexington, Kentucky. Nearby destinations include The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park, placing the office setting near established cultural and community destinations.
Key Highlights
- Customizable suites from approximately 788 square feet to just over 7300 square feet
- Located at 505 E Third Street, Lexington, KY 40508
- Positioned along the Third and Midland Ave corridor
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 - Office suites can be configured for businesses seeking space within a mixed community and business setting.
Where is this office units located?
The property is located at 505 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: Customizable suites from approximately 788 square feet to just over 7300 square feet; Located at 505 E Third Street, Lexington, KY 40508; Positioned along the Third and Midland Ave corridor
