Live-Work Office with Multiple
117 W Maxwell Street Lexington, KY 40508
For Sale
$249,900
Pending
COMMERCIAL - Lexington, KY
Property Size958 SF
Lot Size0.05 Acres
Days on Market159
Property Features for 117 W Maxwell Street
General Information
Property type
Commercial Sale
Property subtype
Office
Basement
Crawl Space
Standard status
Pending
APN
17008100
Size
958 SF
Lot size
0.05 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
1
Building materials
Wood Siding
Listing Agency:
Top Ten Realty
(859) 277-4567
Listed By:
Jon Travis T Emnett
(859) 229-8758
Added: Feb 18
Changed: Jun 25
Last Checked: Jul 27 at 4:06PM
MLS# 26002979
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 well maintained, remodeled property has been used as an office for Joe Bologna's Restaurant for the past 28 years. Inside, it features multiple fireplaces, exposed hardwood floors, a remodeled full bath, and a kitchenette area. The layout is suited for day-to-day business use and can also support a live where you work style setup.
Located at 117 W Maxwell Street in Lexington, KY, the property is described as well located to downtown Lexington as well as the University of Kentucky. The property currently has no onsite parking, but there is plenty of on-street parking, and monthly spots are available at the Lexington Transit Center and other private lots in the corridor. The large side yard or patio space is enclosed with fencing.
With its B-1 zoning, the space can be operated as an office for business purposes, used as a live-work configuration, or potentially used in an Air BnB style arrangement, subject to applicable requirements. The fenced outdoor patio area may also support tenant or guest use depending on the operating model.
Located at 117 W Maxwell Street in Lexington, KY, the property is described as well located to downtown Lexington as well as the University of Kentucky. The property currently has no onsite parking, but there is plenty of on-street parking, and monthly spots are available at the Lexington Transit Center and other private lots in the corridor. The large side yard or patio space is enclosed with fencing.
With its B-1 zoning, the space can be operated as an office for business purposes, used as a live-work configuration, or potentially used in an Air BnB style arrangement, subject to applicable requirements. The fenced outdoor patio area may also support tenant or guest use depending on the operating model.
Key Highlights
- Remodeled office property built in 1900 with wood siding, multiple fireplaces, and exposed hardwood floors
- B‑1 zoning allows day‑to‑day business use and live/work‑style setups
- Can also be used as an Air BnB, with a kitchenette area and remodeled full bath
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 4.29%
Second Best
Mixed Use
$129.3K
$113.2K – $150.9K
NOI $9,053 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$199.6K
$174.7K – $232.9K
NOI $13,972 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Remodeled B-1 live-work office with multiple fireplaces, hardwood floors, a full bath, kitchenette, and a fenced side patio.
Where is this live-work space located?
The property is located at 117 W Maxwell Street Lexington, KY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Remodeled office property built in 1900 with wood siding, multiple fireplaces, and exposed hardwood floors; B‑1 zoning allows day‑to‑day business use and live/work‑style setups; Can also be used as an Air BnB, with a kitchenette area and remodeled full bath
