First-Floor Office Condo with
141 Prosperous Place, Lexington, KY 40509
- Added:
- May 13, 2026
- Days on Market:
- 32
- Last Refresh:
- Jun 13 at 4:06 am
Property Features for 141 Prosperous Place
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 55
- Parking features
- Open
- Standard status
- Active
- APN
- 10043690
- Size
- 882 SF
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Electric
Building Details
- Year built
- 1989
- Floors in Building
- 1
- Building materials
- Brick
- Roof type
- Composition
Listing agent Nicholas Ratliff (859) 351-9796
Listing office Real Broker, LLC - Lexington 141 Prosperous Pl Ste 22A, Lexington, KY (855) 554-2075
Listing date May 13, 2026
MLS# 26011523
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.
HighLights
- Updated first‑floor office condo in Richmond Square Office Park
- Approximately 900 SF with a large conference/collaborative workspace, three private offices, kitchenette, restroom, and storage
- Recent updates include modern flooring, neutral paint tones, upgraded cabinetry, quartz countertops, and a custom accent wall
- Brick construction with forced‑air natural gas heating and electric cooling
- Public sewer; cable available; roof is composition
- Open parking available
Overview
This updated first-floor office condo is located within the Richmond Square Office Park and presents a clean, professional environment. The approximately 900 SF layout includes a large conference or collaborative workspace, three private offices, a kitchenette, restroom, storage area, and updated finishes throughout. Recent improvements noted for the unit include modern flooring, neutral paint tones, upgraded cabinetry, quartz countertops, and a custom accent wall.
The property is positioned near the Richmond Rd and Man o’ War corridor, with convenient access to I-75, Hamburg, and New Circle Rd. The immediate area includes nearby restaurants, retail, medical, and professional services, supporting client-facing needs and daily convenience for employees.
The configuration is well suited for owner-occupants and professional users who want to control their own office space. The flexible interior supports a range of professional and medical-related office uses, including real estate, legal, insurance, mortgage, financial services, consulting, and similar client-oriented operations.
The property is positioned near the Richmond Rd and Man o’ War corridor, with convenient access to I-75, Hamburg, and New Circle Rd. The immediate area includes nearby restaurants, retail, medical, and professional services, supporting client-facing needs and daily convenience for employees.
The configuration is well suited for owner-occupants and professional users who want to control their own office space. The flexible interior supports a range of professional and medical-related office uses, including real estate, legal, insurance, mortgage, financial services, consulting, and similar client-oriented operations.
Local 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 | $16.9k | $19.20 |
| − Vacancy | −$2.3k | −$2.56 |
| EGI | $14.7k | $16.64 |
| − OpEx | −$3.7k | −$4.16 |
| NOI | $11.0k | $12.48 |
882 SF · lease $19.20/SF/yr · vacancy 13.32% · expense 25.00%
Alternative Uses
Best Use
Office B
$157.3K
$137.6K – $183.5K
NOI $11,009 @ 7.0% cap · market cap 5.12%
Second Best
Healthcare Medical
$132.1K
$115.6K – $154.1K
NOI $9,246 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$183.8K
$160.8K – $214.4K
NOI $12,863 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Carpenter Insurance Group, ...
Insurance Agency
Summers & Mc Crary ...
Accounting Firm
Moore & Moore, PLLC
Law Firm
All Points Community ...
Condominium Complex
The Home Place of Lexington ...
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.44248
- Latitude
- 38.002593
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Updated first-floor office condo with private offices, conference space, kitchenette, and restroom for professional or medical use.
Where is this office units located?
The property is located at 141 Prosperous Place Lexington, KY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Updated first‑floor office condo in Richmond Square Office Park; Approximately 900 SF with a large conference/collaborative workspace, three private offices, kitchenette, restroom, and storage; Recent updates include modern flooring, neutral paint tones, upgraded cabinetry, quartz countertops, and a custom accent wall
