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    Downtown Second-Floor Office Suite Title is generated by Realmo AI

    127 West Main Street Suite 200, Lexington, KY 40507

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    Renovated second-floor office with tall ceilings, a full kitchen, and private offices—well positioned near Lexington courthouses.

    Type:Office
    Property size:
    2,253 SF
    Price / SF:
    $0.01/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:28 am

    Property Features for 127 West Main Street Suite 200

    General Information

    Standard status
    Active
    Size
    2,253 SF
    Property subtype
    Office

    Properties For Sale

    at 127 West Main Street Suite 200 Contact us

    We can help!

    Listing Contact
    Wade Haga, CCIM

    Listing agent Wade Haga, CCIM License #KY 223094

    Listing office

    Listing date Jun 2, 2026

    Source Svn

    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 Wade Haga, CCIM

    HighLights

    • 2,253 SF second‑floor office space in downtown Lexington
    • Renovated office in the building at 127 West Main
    • 4 private offices for a professional workspace layout
    • Tall ceilings and rich character finishes
    • Includes full kitchen plus 2 bathrooms
    • Location steps from the courthouses and near downtown retail and entertainment

    Overview

    This renovated second-floor office suite offers 2,253 SF designed for a professional user. The space features tall ceilings and rich character, along with four private offices that support focused work and client meetings. There are two bathrooms for convenience and a full kitchen that can help support day-to-day operations.

    The building at 127 West Main Street is located downtown Lexington, directly across from City Center, and within walking distance of the courthouses. The setting also places the suite steps from retail and entertainment options that serve employees, visitors, and clients.

    With its private office layout and downtown address, this suite is well suited for established businesses seeking a flagship location with a polished, renovated interior. It can also be an attractive fit for professionals who value proximity to courthouse-related activity and a walkable mix of amenities for clients and staff.
    Location Intelligence

    Current Use by Public Records

    Hurt Crosbie & May: ... Law Firm Deckard James L Law Firm Matthew R. Malone Law Firm Hurt Crosbie & May: ... Law Firm Kalinyak Michael D Law Firm

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.497339
    Latitude
    38.046732

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    FAQs

    What type of property is this?
    Office units - Renovated second-floor office with tall ceilings, a full kitchen, and private offices—well positioned near Lexington courthouses.
    Where is this office units located?
    The property is located at 127 West Main Street Suite 200 Lexington, KY.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 2,253 SF second‑floor office space in downtown Lexington; Renovated office in the building at 127 West Main; 4 private offices for a professional workspace layout
    (859) 285-2202
    We can help!
    Listing Contact
    Wade Haga, CCIM
    Real Estate License ID: KY 223094
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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