Industrial Flex Warehouse with
For Sale
$2,450,000
10401050 Eastland Drive, Lexington, KY 40505
Concrete block industrial flex building features six docks, four drive-ins, 16' clear height, and newer EPDM roofs.
Property Size30,488 SF
Price / SF$80.36
Days on Market12
Property Features for 10401050 Eastland Drive
General Information
Standard status
Active
Size
30,488 SF
Property subtype
Industrial
Amenities
On Site, Paved Driveway.
Building Details
Year Built
1970
Listing Agency:
Block + Lot Homes
(859) 338-8243
Listed By:
Adam Boardman · License #72655
(859) 338-8243
Source:
Xome
Added: Jul 20
Changed: Jul 26
Last Checked: Jul 31 at 3:55AM
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 Block + Lot Homes
Investment Insights
Based on property information with market context.
1040-1050 Eastland Drive is a concrete block industrial flex warehouse totaling 30,488 SF, demised into three sizes. The property includes an office-to-warehouse ratio of 13.65% and concrete block construction dating between 1970 and 1974. Building features include LED lighting, a wet sprinkler system, and small outside storage for each unit.
The facility offers six docks and four drive-ins, with 16' clear height. Roof improvements include newer EPDM roofs installed in 2016 and 2019, with assignable warranties noted with the property.
The property totals 1.41 acres and is zoned I-1. It is located on Eastland Drive between Loudon Avenue and New Circle Road, about 0.8 miles from New Circle Road and 2.7 miles from I-75/I-64.
The facility offers six docks and four drive-ins, with 16' clear height. Roof improvements include newer EPDM roofs installed in 2016 and 2019, with assignable warranties noted with the property.
The property totals 1.41 acres and is zoned I-1. It is located on Eastland Drive between Loudon Avenue and New Circle Road, about 0.8 miles from New Circle Road and 2.7 miles from I-75/I-64.
Key Highlights
- 17,247 SF available for lease within a 30,488 SF industrial flex building demised into three suites
- Zoned I‑1 on 1.41 acres, with concrete block construction built between 1970–1974
- Warehouse features include 6 docks, 4 drive‑ins, and 16' clear height
Financial Insights For Warehouse
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 | $274.4k | $9.00 |
| − Vacancy | −$16.5k | −$0.54 |
| EGI | $257.9k | $8.46 |
| − OpEx | −$38.7k | −$1.27 |
| NOI | $219.2k | $7.19 |
30,488 SF · lease $9.00/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$3.48M
$3.04M – $4.05M
NOI $243,276 @ 7.0% cap · market cap 9.93%
Second Best
Warehouse
$3.13M
$2.74M – $3.65M
NOI $219,239 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$6.35M
$5.56M – $7.41M
NOI $444,647 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Selma's Catering & Events — 720 Henry Clay Blvd, Lexington, KY 40505
- Athenian Grill Office — 1117 Winchester Rd, Lexington, KY 40505
Frequently Asked Questions
What type of property is this?
Flex space - Concrete block industrial flex building features six docks, four drive-ins, 16' clear height, and newer EPDM roofs.
Where is this flex space located?
The property is located at 10401050 Eastland Drive Lexington, KY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 17,247 SF available for lease within a 30,488 SF industrial flex building demised into three suites; Zoned I‑1 on 1.41 acres, with concrete block construction built between 1970–1974; Warehouse features include 6 docks, 4 drive‑ins, and 16' clear height
