Office Suite with
For Sale
$359,900
108 Dennis Dr, Lexington, KY 40503
Office suite includes three private offices, open work areas, kitchenette, two restrooms, and a covered rear patio.
Property Size1,242 SF
Price / SF$289.77
Days on Market75
Property Features for 108 Dennis Dr
General Information
Standard status
Active
Size
1,242 SF
Building Details
Year Built
1960
Listing Agency:
Kevin Huang Realty
Listed By:
Q Kevin Huang · License #260102
(859) 948-5039
Source:
Meliarealty
Added: Jul 25
Changed: Sep 8
Last Checked: Oct 6 at 12:52AM
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 Kevin Huang Realty
Investment Insights
Based on property information with market context.
This office suite offers a practical layout with three private offices, two open work areas, a kitchenette, two restrooms, and multiple storage closets. Recent updates include new LVP flooring and fresh paint throughout. A covered rear patio adds an outdoor space that can support everyday break or meeting needs.
The property is located near Nicholasville Road and Regency Road, with quick access to New Circle Road and minutes to downtown Lexington.
The paved parking lot at the rear provides off-street parking for staff and visitors.
The property is located near Nicholasville Road and Regency Road, with quick access to New Circle Road and minutes to downtown Lexington.
The paved parking lot at the rear provides off-street parking for staff and visitors.
Key Highlights
- Office suite with 3 private offices plus 2 open work areas
- Includes kitchenette, 2 restrooms, and multiple storage closets
- Covered rear patio for breaks or client/work gatherings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,471
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,420
$329.4K
Cap Rate 7%
$235,300
$235.3K
Cap Rate 9%
$183,011
$183.0K
Market Conditions
NOI Build-Up for 1,242 SF
Gross rent
$25.3K $20.40/SF
− Vacancy
−$3.4K −$2.72/SF
EGI
$22.0K $17.68/SF
− OpEx
−$5.5K −$4.42/SF
NOI
$16.5K $13.26/SF
Area
ZIP 40503
Vacancy
13.32%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,420
Cap Rate 7%
$235,300
Cap Rate 9%
$183,011
Alternative Uses
Best Use
Office B
$235.3K
$205.9K – $274.5K
NOI $16,471 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.8K
$226.4K – $301.9K
NOI $18,114 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 40503, KY
28,073
Population
13,437
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,190
Density / Sq Mi
$74,161
Median Household Income
$43,061
Median Earnings
$1,110
Median Rent
$280,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office suite includes three private offices, open work areas, kitchenette, two restrooms, and a covered rear patio.
Where is this office units located?
The property is located at 108 Dennis Dr Lexington, KY.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Office suite with 3 private offices plus 2 open work areas; Includes kitchenette, 2 restrooms, and multiple storage closets; Covered rear patio for breaks or client/work gatherings
