Mixed-Use Gem in Downtown
For Sale
$5,700,000
144 N Broadway, Lexington, KY 40507
Four-story mixed-use building in the heart of downtown Lexington.
Property Size18,032 SF
Price / SF$316.10
Days on Market163
Property Features for 144 N Broadway
General Information
Standard status
Active
Size
18,032 SF
Property subtype
Commercial
Site & Location
Neighborhood
Gratz Park Assoc
Building Details
Year Built
1915
Listing Agency:
Bluegrass Sotheby's International Realty
Listed By:
Christopher Mitchell · License #197495
(859) 321-2898
Source:
Centralkyhomesforsale
Added: May 18
Changed: Oct 25
Last Checked: Oct 26 at 4:21PM
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 Bluegrass Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This four-story mixed-use building is located in downtown Lexington. The property offers a live-work-play dynamic with ground-floor prestige and upper-level versatility. The ground floor features a private club with an intimate atmosphere and high-end finishes. The second floor has flexible layouts suitable for boutique offices or creative studio spaces overlooking the cityscape and is flooded with natural light. Floors three and four house five luxury Air B&B units. The property is located near dining, bourbon bars, and cultural landmarks. This building is suitable for an investor or owner-occupier.
Key Highlights
- Irreplaceable downtown Lexington location, steps from dining, bars, and cultural landmarks.
- Diverse income streams from ground‑floor commercial space and five luxury Air B&B units.
- Flexible upper‑level layouts suitable for offices or creative studios.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,584
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,431,680
$3.4M
Cap Rate 7%
$2,451,200
$2.5M
Cap Rate 9%
$1,906,489
$1.9M
Market Conditions
NOI Build-Up for 18,032 SF
Gross rent
$259.7K $14.40/SF
− Vacancy
−$14.5K −$0.81/SF
EGI
$245.1K $13.59/SF
− OpEx
−$73.5K −$4.08/SF
NOI
$171.6K $9.52/SF
Area
Lexington, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,431,680
Cap Rate 7%
$2,451,200
Cap Rate 9%
$1,906,489
Alternative Uses
Best Use
Retail
$2.45M
$2.14M – $2.86M
NOI $171,584 @ 7.0% cap · market cap 3.01%
Second Best
Mixed Use
$2.43M
$2.13M – $2.84M
NOI $170,402 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $262,984 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,626
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Chase Bank
Shops & Services
6,799 visits/mo
0.3 miles
Marathon Petroleum
Shops & Services
2,407 visits/mo
0.4 miles
City National Bank
Shops & Services
1,326 visits/mo
0.5 miles
China Star
Dining
725 visits/mo
0.3 miles
Demographics for 40507, KY
2,043
Population
1,765
Households
1.2
Avg Household Size
44
Median Age
54%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
5,108
Density / Sq Mi
$34,543
Median Household Income
$40,826
Median Earnings
$642
Median Rent
$391,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story mixed-use building in the heart of downtown Lexington.
Where is this mixed-use property located?
The property is located at 144 N Broadway Lexington, KY.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: Irreplaceable downtown Lexington location, steps from dining, bars, and cultural landmarks.; Diverse income streams from ground‑floor commercial space and five luxury Air B&B units.; Flexible upper‑level layouts suitable for offices or creative studios.
