Live-Work Office with
117 Maxwell Street Lexington, KY 40508
For Sale
$260,000
Remodeled office and live-work setup with fireplaces, exposed hardwood floors, a kitchenette, and a fenced side patio.
Property Size958 SF
Price / SF$271.40
Days on Market199
Property Features for 117 Maxwell Street
General Information
Standard status
Active
Size
958 SF
Property subtype
Office
Building Details
Year Built
1900
Listing Agency:
Top Ten Realty
(859) 229-8758
Listed By:
Jon Travis Emnett
(859) 229-8758
Source:
Xome
Added: Jan 9
Changed: Jul 22
Last Checked: Jul 27 at 3:04AM
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 Top Ten Realty
Investment Insights
Based on property information with market context.
This well-maintained, remodeled property has been used as an office for Joe Bologna's Restaurant for the past 28 years. The space reflects yesteryear character with updated features, including multiple fireplaces and exposed hardwood floors. Interior improvements include a remodeled full bath and a kitchenette area. The configuration supports a day-to-day business use as well as a live-where-you-work setup, and it can also be used as a short-term rental.
Zoned B-1, the property is well located to downtown Lexington as well as the University of Kentucky. There is currently no onsite parking, though there is plenty of on-street parking available. Monthly parking spots are also available at the Lexington Transit Center and in other private lots along the corridor, with the possibility of renting a spot at the restaurant.
Additional outdoor space includes a large side yard/patio area enclosed with fencing.
Zoned B-1, the property is well located to downtown Lexington as well as the University of Kentucky. There is currently no onsite parking, though there is plenty of on-street parking available. Monthly parking spots are also available at the Lexington Transit Center and in other private lots along the corridor, with the possibility of renting a spot at the restaurant.
Additional outdoor space includes a large side yard/patio area enclosed with fencing.
Key Highlights
- Remodeled interior with central air, multiple fireplaces, and exposed hardwood floors
- Includes a remodeled full bath plus a kitchenette area
- Zoned B‑1, suitable for day‑to‑day business or a live‑work setup
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 | $17.2k | $18.00 |
| − Vacancy | −$3.0k | −$3.10 |
| EGI | $14.3k | $14.90 |
| − OpEx | −$3.6k | −$3.73 |
| NOI | $10.7k | $11.18 |
958 SF · lease $18.00/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$153.0K
$133.9K – $178.5K
NOI $10,709 @ 7.0% cap · market cap 4.12%
Second Best
Mixed Use
$129.3K
$113.2K – $150.9K
NOI $9,053 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$199.6K
$174.7K – $232.9K
NOI $13,972 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Remodeled office and live-work setup with fireplaces, exposed hardwood floors, a kitchenette, and a fenced side patio.
Where is this live-work space located?
The property is located at 117 Maxwell Street Lexington, KY.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Remodeled interior with central air, multiple fireplaces, and exposed hardwood floors; Includes a remodeled full bath plus a kitchenette area; Zoned B‑1, suitable for day‑to‑day business or a live‑work setup
