Standalone Office
1013 Industry Rd, Lexington, KY 40505
For Sale
$465,000
Reception area, private offices, open work areas, kitchenette, and two restrooms support a flexible office layout.
Property Size1,640 SF
Days on Market50
Property Features for 1013 Industry Rd
General Information
Standard status
Size
Class
Property subtype
Zoning
Additional Details
Highway Access
Building Details
Building Size
Buildings
Listing Agency:
NAI Isaac
Listed By:
Max Darby · License KY #289600
(859) 825-8658
Source:
Naiglobal
Added: Sep 22
Last Checked: Nov 10 at 5:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Isaac
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Investment Insights
Based on property information with market context.
Located at 1013 Industry Rd in Lexington, this standalone office property offers a reception area, four private offices, two open work areas, a kitchenette, and two restrooms. The configuration provides a practical setting for an office user, small retail operation, or a combination of the two. B-3 zoning is identified as suitable for these uses.
The property sits next to Eastland Shopping Center and near the signalized Winchester Road intersection, where traffic counts are approximately 29,675 VPD. Eleven parking spaces are positioned at the front, with additional employee parking at the rear. New Circle Road and Lexington’s downtown Central Business District are nearby, while I-75 is approximately 3.5 miles away. The property is also near the Hamburg East development.
The property sits next to Eastland Shopping Center and near the signalized Winchester Road intersection, where traffic counts are approximately 29,675 VPD. Eleven parking spaces are positioned at the front, with additional employee parking at the rear. New Circle Road and Lexington’s downtown Central Business District are nearby, while I-75 is approximately 3.5 miles away. The property is also near the Hamburg East development.
Key Highlights
- B‑3 zoning identified as suitable for office, small retail, or combined use
- Four private offices and two open work areas
- Reception area, kitchenette, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,332
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,640
$366.6K
Cap Rate 7%
$261,886
$261.9K
Cap Rate 9%
$203,689
$203.7K
Market Conditions
NOI Build-Up for 1,640 SF
Gross rent
$29.5K $18.00/SF
− Vacancy
−$5.1K −$3.10/SF
EGI
$24.4K $14.90/SF
− OpEx
−$6.1K −$3.73/SF
NOI
$18.3K $11.18/SF
Area
Lexington, KY
Vacancy
17.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,640
Cap Rate 7%
$261,886
Cap Rate 9%
$203,689
Alternative Uses
Best Use
Office B
$261.9K
$229.2K – $305.5K
NOI $18,332 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$341.7K
$299.0K – $398.6K
NOI $23,918 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Lexington, KY
Properties on Market for Office buildings in Lexington
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Reception area, private offices, open work areas, kitchenette, and two restrooms support a flexible office layout.
Where is this office building located?
The property is located at 1013 Industry Rd Lexington, KY.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: B‑3 zoning identified as suitable for office, small retail, or combined use; Four private offices and two open work areas; Reception area, kitchenette, and two restrooms
