Automotive/Warehouse Property with
For Sale
Contact for pricing
1015 Lexington Road, Georgetown, KY 40324
Versatile property with lifts, office, and ample parking.
Property Size4,000 SF
Price / SF$222.50
Days on Market146
Property Features for 1015 Lexington Road
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Special Purpose
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker McMahan
(502) 863-7775
Listed By:
Carl Tackett · License #KY 187325
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 11 at 4:18PM
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 Coldwell Banker McMahan
Investment Insights
Based on property information with market context.
This property offers potential for automotive or warehouse use. It features paved parking, multiple lifts including three 9,000-pound lifts and two 12,000-pound lifts, and an air compressor. The property includes office space, two restrooms, six bays, and a loft area. It is equipped with 200 amp service, gas heat in the work area, and central heat and air in the office. Access is available from both S Broadway and Marshall Park Drive. The property is being sold in "AS IS" condition and has a size of 4,000 square feet.
Key Highlights
- Multiple Heavy‑Duty Lifts: Equipped with three 9,000‑pound lifts and two 12,000‑pound lifts.
- Versatile Space: Features 6 bays, a loft, and office space.
- Paved Parking and Dual Access: Offers paved parking and access from both S Broadway and Marshall Park Drive.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,062
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,240
$761.2K
Cap Rate 7%
$543,743
$543.7K
Cap Rate 9%
$422,911
$422.9K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$57.6K $14.40/SF
− Vacancy
−$3.2K −$0.81/SF
EGI
$54.4K $13.59/SF
− OpEx
−$16.3K −$4.08/SF
NOI
$38.1K $9.52/SF
Area
Scott County, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,240
Cap Rate 7%
$543,743
Cap Rate 9%
$422,911
Alternative Uses
Best Use
Retail
$543.7K
$475.8K – $634.4K
NOI $38,062 @ 7.0% cap · market cap 4.28%
Second Best
Warehouse
$410.9K
$359.6K – $479.4K
NOI $28,764 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.01M
$887.0K – $1.18M
NOI $70,963 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40324, KY
51,035
Population
20,570
Households
2.5
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
155.1 sq mi
ZIP Area
329
Density / Sq Mi
$83,012
Median Household Income
$47,619
Median Earnings
$1,188
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Versatile property with lifts, office, and ample parking.
Where is this auto shop located?
The property is located at 1015 Lexington Road Georgetown, KY.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Multiple Heavy‑Duty Lifts: Equipped with three 9,000‑pound lifts and two 12,000‑pound lifts.; Versatile Space: Features 6 bays, a loft, and office space.; Paved Parking and Dual Access: Offers paved parking and access from both S Broadway and Marshall Park Drive.
