Two-Story Storefront
For Sale
$1,575,000
Pending
1316 S Broadway, Lexington, KY 40504
B-1-zoned building with retail windows, office areas, on-site parking, and South Broadway signage.
Property Size8,400 SF
Days on Market554
Property Features for 1316 S Broadway
General Information
Standard status
Pending
Size
8,400 SF
Elevators
No
Property subtype
Retail
Zoning
B-1
Additional Details
Asking Price
$1,575,000
Traffic Count
30,000 vehicles/day
Building Details
Year Built
1983
Buildings
1
Stories
2
Building Size
8,400 SF
Listing Agency:
The Gibson Company
Listed By:
Stuart Stebleton · License #244600
(248) 318-0881
Source:
Kcrea.resimplifi
Added: Apr 11, 2025
Changed: Oct 10
Last Checked: Oct 16 at 5:51AM
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 The Gibson Company
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Investment Insights
Based on property information with market context.
This 8,400-square-foot, two-story storefront building offers a flexible layout for one occupant or separate floor users. Each floor contains 4,200 square feet. The first level features expansive retail windows suitable for a retail or office presentation, while the upper level combines a large open conference room with individual offices and additional open work areas. The building was constructed in 1983 and does not have an elevator.
Positioned at 1316 S Broadway in Lexington, the property has signage available on South Broadway and receives exposure to a major downtown thoroughfare with traffic counts exceeding 30,000 daily cars. Hospitals, hotels, and restaurants are nearby, and the property includes ample parking. The B-1 zoning designation and two-floor configuration provide a range of storefront and office layouts.
Positioned at 1316 S Broadway in Lexington, the property has signage available on South Broadway and receives exposure to a major downtown thoroughfare with traffic counts exceeding 30,000 daily cars. Hospitals, hotels, and restaurants are nearby, and the property includes ample parking. The B-1 zoning designation and two-floor configuration provide a range of storefront and office layouts.
Key Highlights
- 8,400 SF two‑story building with 4,200‑square‑foot floor plates
- First floor includes large retail windows for retail or office use
- Second floor has a large open/conference room, individual offices, and open work area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,895
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,900
$1.9M
Cap Rate 7%
$1,341,357
$1.3M
Cap Rate 9%
$1,043,278
$1.0M
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$151.2K $18.00/SF
− Vacancy
−$26.0K −$3.10/SF
EGI
$125.2K $14.90/SF
− OpEx
−$31.3K −$3.73/SF
NOI
$93.9K $11.18/SF
Area
Lexington, KY
Vacancy
17.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,900
Cap Rate 7%
$1,341,357
Cap Rate 9%
$1,043,278
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 5.96%
Second Best
Retail
$1.14M
$999.1K – $1.33M
NOI $79,930 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,508 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40504, KY
26,042
Population
13,175
Households
2
Avg Household Size
34
Median Age
32%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
4,200
Density / Sq Mi
$43,015
Median Household Income
$29,195
Median Earnings
$888
Median Rent
$209,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Imperial Flowers — 393 Waller Ave #17, Lexington, KY 40504
Frequently Asked Questions
What type of property is this?
Storefront property - B-1-zoned building with retail windows, office areas, on-site parking, and South Broadway signage.
Where is this storefront property located?
The property is located at 1316 S Broadway Lexington, KY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 8,400 SF two‑story building with 4,200‑square‑foot floor plates; First floor includes large retail windows for retail or office use; Second floor has a large open/conference room, individual offices, and open work area
