Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    635 N Broadway Lexington, KY 40508

    View on Map
    Claim this Listing
    For Lease
    $2,500/Mo $17 SF/Yr (calc)

    COMMERCIAL - Lexington, KY

    Type:Office
    Property size:
    1,724 SF
    Lot size:
    0.20 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    21
    Last Refresh:
    Apr 27 at 4:06 pm

    Property Features for 635 N Broadway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking
    10
    Basement
    Crawl Space
    Standard status
    Active
    APN
    16309225
    Size
    1,724 SF
    Lot size
    0.20 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Floors in Building
    1

    We can help!

    Listing Contact
    Ed Richardson
    Ed Richardson

    Listing agent Ed Richardson License #209184

    Listing office The Gibson Company 1050 Monarch St, Suite 200, Lexington, KY

    Listing date Apr 7, 2026

    MLS# 26009201

    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.

    Overview

    Lexington Office Space Available

    This commercial property, suitable for office use, is located in Lexington, Kentucky. The available space measures 1724 square feet and is situated on a lot of approximately 0.2037 acres. This property is located in Fayette County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sullivan Insurance Agency Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Law Firm Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.488363
    Latitude
    38.057419

    Nearby Similar for Lease

    • $400/Mo

      Flexible Office Space in Lexington

      Adaptable office solutions with utilities and internet included.
      2333 Alexandria Drive, Lexington, KY 40504
      View Details
    • $10 SF/Yr

      Flexible Commercial Space, Lexington, KY

      3,507 SF commercial unit suitable for office or retail.
      165 Moore Drive, Lexington, KY 40503
      View Details
    • $21 SF/Yr

      Retail Space in Lexington, KY

      Retail space for lease in a high-traffic Lexington location.
      120 W Tiverton Way, Lexington, KY 40503
      View Details
    • $14 SF/Yr

      Adaptable Office/Lab Space Available

      Versatile office/lab space for lease in Lexington, Kentucky.
      1509 Bull Lea Road, Lexington, KY 40511
      View Details
    • $21 SF/Yr

      Class A Office Building For Rent

      Renovated office space with modern amenities and convenient location.
      2312 Alexandria Drive, Lexington, KY 40504
      View Details
    • $19 SF/Yr

      Hamburg Office Space For Lease

      4,105 SF Lexington office space near Hamburg Pavilion.
      2720 Old Rosebud Road unit: 230, Lexington, KY 40509
      View Details
    • $9 SF/Yr

      Flexible Commercial Space in Lexington

      Versatile 12,400 sq ft space near Nicholasville Road.
      183 Moore Drive unit: C, Lexington, KY 40503
      View Details
    • $8 SF/Yr

      Lexington Industrial Flex Space Available

      Industrial flex space with office and warehouse components for lease.
      1113 Commercial Drive, Lexington, KY 40505
      View Details
    • $650/Mo

      Office Space in Lexington Business Center

      Individual offices for lease with utilities included in Lexington, KY.
      444 Lewis Hargett Circle unit: 180-102, Lexington, KY 40503
      View Details
    • $800/Mo

      Office Space in Lexington Business Center

      Individual office spaces for lease with utilities included.
      444 Lewis Hargett Circle unit: 180-107, Lexington, KY 40503
      View Details
    • $20 SF/Yr

      Class A Office Space Lexington

      Renovated office building near CHI St. Joseph medical campus.
      161 N Eagle Creek Drive unit: 150, Lexington, KY 40509
      View Details
    • $5,700/Mo

      Luxury Office Space on Richmond

      High-traffic location, adaptable layout, ideal for medical or professional use.
      3475 Richmond Road, Lexington, KY 40509
      View Details

    FAQs

    What type of property is this?
    Office units - Professional office space for rent in Lexington, Kentucky.
    Where is this office units located?
    The property is located at 635 N Broadway Lexington, KY.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Central Air Conditioning for year‑round comfort.; Forced Air Heating ensures efficient warmth.; Heat Pump (Heating) provides an alternative heating option.
    (859) 559-3456
    We can help!
    Listing Contact
    Ed Richardson
    Ed Richardson
    Real Estate License ID: 209184
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!