Three-Story Professional Office
For Sale
$2,950,000
1020 Monarch Street, Lexington, KY 40513
Commercial Sale, Lexington, KY
Property Size22,536 SF
Lot Size1.45 Acres
Price / SF$130.90
Days on Market367
Property Features for 1020 Monarch Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
P-1 Professional Office
Subdivision
Commercial
Directions
New Circle Road to Harrodsburg Road, left on Beaumont Centre Circle
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 Agency:
The Gibson Company
(859) 224-8833
Listed By:
Kevin Verhoven · License #58263
(859) 494-4460
Added: Oct 6, 2025
Changed: Oct 2
Last Checked: Oct 7 at 1:06PM
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.
Investment Insights
Based on property information with market context.
This 22,536-square-foot professional office building occupies 1.45 acres and was constructed in 2004. The three-story property includes elevator service, surface parking, and a membrane roof. Two professional tenants lease the entire first floor, while the upper levels provide substantial space for an owner-user or additional occupancy.
The second floor includes a training room, open workspace, three private offices, a conference room, and a break room. The 7,632 RSF third floor adds 22 private offices, multiple conference rooms, three restrooms, another break room, and dedicated storage. The building is positioned in Beaumont Centre near Harrodsburg Road, New Circle Road, and Man O' War Boulevard, with restaurants, retail, and professional services in the surrounding area.
The second floor includes a training room, open workspace, three private offices, a conference room, and a break room. The 7,632 RSF third floor adds 22 private offices, multiple conference rooms, three restrooms, another break room, and dedicated storage. The building is positioned in Beaumont Centre near Harrodsburg Road, New Circle Road, and Man O' War Boulevard, with restaurants, retail, and professional services in the surrounding area.
Key Highlights
- 22,536‑square‑foot office building on 1.45 acres
- Three‑story configuration with elevator service and surface parking
- Built in 2004 with a membrane roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$251,907
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,038,140
$5.0M
Cap Rate 7%
$3,598,671
$3.6M
Cap Rate 9%
$2,798,967
$2.8M
Market Conditions
NOI Build-Up for 22,536 SF
Gross rent
$405.6K $18.00/SF
− Vacancy
−$69.8K −$3.10/SF
EGI
$335.9K $14.90/SF
− OpEx
−$84.0K −$3.73/SF
NOI
$251.9K $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%
$5,038,140
Cap Rate 7%
$3,598,671
Cap Rate 9%
$2,798,967
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $251,907 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,672 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
Explore this area
Business Placement
Demographics for 40513, KY
11,244
Population
4,734
Households
2.4
Avg Household Size
45
Median Age
71%
College-Educated
98%
High-School Grad
14.7 sq mi
ZIP Area
765
Density / Sq Mi
$126,642
Median Household Income
$76,503
Median Earnings
$1,413
Median Rent
$448,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office configuration with elevator access, surface parking, and leased first-floor space.
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 $2,950,000.
What are key features of this property?
This property features: 22,536‑square‑foot office building on 1.45 acres; Three‑story configuration with elevator service and surface parking; Built in 2004 with a membrane roof
