Basement Office Suite with Conference
For Sale
$189,000
1795 Alysheba Way Ste 2202, Lexington, KY 40509
Basement office condominium with hardwood floors, 9-foot ceilings, and dedicated reception, kitchen, and conference space.
Property Size1,000 SF
Price / SF$189
Days on Market65
Property Features for 1795 Alysheba Way Ste 2202
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Clear Height
9 ft
Office Units
3
Building Details
Year Built
2003
Listing Agency:
SVN | Stone Commercial Real Estate
(859) 312-8069
Listed By:
Neal Metcalfe · License #217705
(859) 312-8069
Source:
Svn
Added: Jun 3
Changed: Jul 10
Last Checked: Aug 6 at 4:28AM
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 SVN | Stone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 1,000 SF basement office suite is available for sale as a condominium unit within the Stonecrest Office Colony. The space features hardwood floors and 9-foot ceilings, with a reception area and kitchenette to support day-to-day operations. The layout includes three offices and a conference room, providing both private work areas and a dedicated meeting space.
The suite is located in a well-established office setting with visibility and accessibility. It is positioned near major regional access points, including I-75 and Man O’ War Boulevard, and is also close to the Hamburg Pavilion shopping, dining, and residential areas.
For an owner-user, the configuration supports a professional office environment with private offices, a reception area, and conference space already in place. For an investor, the unit is currently tenant occupied on a month-to-month lease, offering an option for buyers seeking income-producing office space within a managed office colony.
The suite is located in a well-established office setting with visibility and accessibility. It is positioned near major regional access points, including I-75 and Man O’ War Boulevard, and is also close to the Hamburg Pavilion shopping, dining, and residential areas.
For an owner-user, the configuration supports a professional office environment with private offices, a reception area, and conference space already in place. For an investor, the unit is currently tenant occupied on a month-to-month lease, offering an option for buyers seeking income-producing office space within a managed office colony.
Key Highlights
- 1,000 SF basement office condominium for sale at 1795 Alysheba Way, Suite 2202 (Lexington)
- Currently tenant‑occupied and leased month‑to‑month
- Features hardwood floors and 9‑ft ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,482
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$249,640
$249.6K
Cap Rate 7%
$178,314
$178.3K
Cap Rate 9%
$138,689
$138.7K
Market Conditions
NOI Build-Up for 1,000 SF
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.
Gross rent
$19.2K $19.20/SF
− Vacancy
−$2.6K −$2.56/SF
EGI
$16.6K $16.64/SF
− OpEx
−$4.2K −$4.16/SF
NOI
$12.5K $12.48/SF
Area
ZIP 40509
Vacancy
13.32%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$249,640
Cap Rate 7%
$178,314
Cap Rate 9%
$138,689
Alternative Uses
Best Use
Office B
$178.3K
$156.0K – $208.0K
NOI $12,482 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$208.3K
$182.3K – $243.1K
NOI $14,584 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Basement office condominium with hardwood floors, 9-foot ceilings, and dedicated reception, kitchen, and conference space.
Where is this office units located?
The property is located at 1795 Alysheba Way Ste 2202 Lexington, KY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 1,000 SF basement office condominium for sale at 1795 Alysheba Way, Suite 2202 (Lexington); Currently tenant‑occupied and leased month‑to‑month; Features hardwood floors and 9‑ft ceilings
