Flex Space with Drive-Through
For Sale
$499,000
Pending
1114 Industry Rd, Lexington, KY 40505
B-4 zoning and a fenced outdoor area support warehouse and wholesale business uses, subject to approval.
Property Size2,700 SF
Lot Size0.21 Acres
Days on Market19
Property Features for 1114 Industry Rd
General Information
Standard status
Pending
Size
2,700 SF
Lot size
0.21 Acres
Property subtype
Commercial
Zoning
B-4
Site & Location
Neighborhood
Meadows/Loudon Nghd Assoc
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
1
Property Use
Office/Warehouse
Amenities
rear overhead/drive-through door
fenced yard for outdoor parking or storage
on-site parking
Building Details
Year Built
1964
Building Size
2,700 SF
Listing Agency:
Keller Williams Commonwealth
Listed By:
Amir Shalash
(859) 967-3695
Source:
Centralkentuckyhouses
Added: Oct 19
Changed: Nov 3
Last Checked: Nov 4 at 2:02PM
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 Keller Williams Commonwealth
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property in Lexington contains a rear overhead door configured for drive-through access, on-site parking, and a fenced yard. The parcel spans 0.21 acres and carries B-4 Warehouse & Wholesale Business zoning. The building dates to 1964.
Building supply and trade-related businesses are part of the surrounding commercial and industrial corridor. New Circle Road, I-75, I-64, and downtown Lexington are accessible from the property.
Building supply and trade-related businesses are part of the surrounding commercial and industrial corridor. New Circle Road, I-75, I-64, and downtown Lexington are accessible from the property.
Key Highlights
- B‑4 Warehouse & Wholesale Business zoning
- Rear overhead door provides drive‑through access
- Fenced yard for outdoor parking or storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,704
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,080
$434.1K
Cap Rate 7%
$310,057
$310.1K
Cap Rate 9%
$241,156
$241.2K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$35.9K $13.20/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$33.4K $12.28/SF
− OpEx
−$11.7K −$4.30/SF
NOI
$21.7K $7.98/SF
Area
Lexington, KY
Vacancy
7.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,080
Cap Rate 7%
$310,057
Cap Rate 9%
$241,156
Alternative Uses
Best Use
Flex RnD
$310.1K
$271.3K – $361.7K
NOI $21,704 @ 7.0% cap · market cap 4.35%
Second Best
Warehouse
$279.4K
$244.5K – $326.0K
NOI $19,560 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$566.7K
$495.9K – $661.2K
NOI $39,669 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Entre Vous — 1006 Delaware Ave, Lexington, KY 40505
- Selma's Catering & Events — 720 Henry Clay Blvd, Lexington, KY 40505
- Bayleaf Diaspora Kitchen — 962 Delaware Ave, Lexington, KY 40508
- Vegan Nepal — 962 Delaware Ave, Lexington, KY 40505
- Pasta Garage Catering — 962 Delaware Ave, Lexington, KY 40505
Frequently Asked Questions
What type of property is this?
Flex space - B-4 zoning and a fenced outdoor area support warehouse and wholesale business uses, subject to approval.
Where is this flex space located?
The property is located at 1114 Industry Rd Lexington, KY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: B‑4 Warehouse & Wholesale Business zoning; Rear overhead door provides drive‑through access; Fenced yard for outdoor parking or storage
