Three-Story Professional Office
1020 Monarch Street, Lexington, KY 40513
COMMERCIAL - Lexington, KY
Type:Office
Property size:
22,536 SFLot size:
1.45 AcresPrice / SF:
$137/SF- Added:
- Oct 6, 2025
- Days on Market:
- 275
- Last Refresh:
- Jul 7 at 3:06 pm
Property Features for 1020 Monarch Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- APN
- 38111720
- Size
- 22,536 SF
- Lot size
- 1.45 Acres
Building Details
- Year built
- 2004
- Floors in Building
- 3
- Roof type
- Membrane
Listing agent Kevin Verhoven License #58263 (859) 224-8833
Listing office The Gibson Company 1050 Monarch St, Suite 200, Lexington, KY (859) 224-8833
Listing date Oct 6, 2025
MLS# 25503131
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.
HighLights
- Three‑story professional office building built in 2004 with approximately 22,536 SF and elevator service
- First floor is fully leased to two professional tenants, providing stable rental income
- Second floor includes a large training room, open area for cubicles/workstations, 3 private offices, a large conference room, and a spacious break room
- Third floor totals 7,632 RSF with 22 private offices, large and small conference rooms, and multiple restrooms plus break and dedicated storage room
- Membrane roof and ample surface parking on‑site
- Located in Beaumont Centre near Harrodsburg Road, New Circle Road, and Man O' War Boulevard
Overview
1020 Monarch Street is a well-maintained three-story professional office building with elevator service and ample surface parking. The building totals approximately 22,536 square feet and is currently configured to support both private offices and shared meeting space. The first floor is fully leased to two professional tenants, providing occupied space from the outset. The second floor includes a large training room, an open area suitable for cubicles or workstations, three private offices, a large conference room, and a spacious break room. The third floor features 22 private offices, large and smaller conference rooms, two public restrooms plus one private restroom, a large break room, and a dedicated storage room.
The property is located in Beaumont Centre near Harrodsburg Road, New Circle Road, and Man O’ War Boulevard. The surrounding area includes restaurants, retail, and professional services, supporting a business-focused tenant mix.
This building can suit an owner-occupant seeking the option to occupy upper floors while retaining first-floor tenant occupancy. For investors, the current first-floor leasing provides an income component alongside additional space that can be managed and marketed as tenant demand warrants. Interior layouts across multiple floors offer a practical mix of offices, conference rooms, training, and break areas for a range of professional users.
The property is located in Beaumont Centre near Harrodsburg Road, New Circle Road, and Man O’ War Boulevard. The surrounding area includes restaurants, retail, and professional services, supporting a business-focused tenant mix.
This building can suit an owner-occupant seeking the option to occupy upper floors while retaining first-floor tenant occupancy. For investors, the current first-floor leasing provides an income component alongside additional space that can be managed and marketed as tenant demand warrants. Interior layouts across multiple floors offer a practical mix of offices, conference rooms, training, and break areas for a range of professional users.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $405.6k | $18.00 |
| − Vacancy | −$69.8k | −$3.10 |
| EGI | $335.9k | $14.90 |
| − OpEx | −$84.0k | −$3.73 |
| NOI | $251.9k | $11.18 |
22,536 SF · lease $18.00/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $251,907 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,672 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Mid-America Conversion Services
Construction Company
of Doctors of Audiology
Medical Clinic
Advancmed
Charitable Organization
National Association State ...
Charitable Organization
The Thrasher Group
General Contractor
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.55511
- Latitude
- 38.022259
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Three-story office building with elevator service, ample surface parking, and flexible space across multiple floors.
Where is this office building located?
The property is located at 1020 Monarch Street Lexington, KY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Three‑story professional office building built in 2004 with approximately 22,536 SF and elevator service; First floor is fully leased to two professional tenants, providing stable rental income; Second floor includes a large training room, open area for cubicles/workstations, 3 private offices, a large conference room, and a spacious break room
