Community Shopping Center For
For Sale
Contact for pricing
1505-1557 E New Circle Road, Lexington, KY 40509
Community shopping center with high traffic and multiple access points.
Property Size379,204 SF
Days on Market329
Property Features for 1505-1557 E New Circle Road
General Information
Standard status
Active
Size
379,204 SF
Property subtype
Retail
Lease Term
NNN; MG
Building Details
Building Size
379,204 SF
Properties For Sale
at 1505-1557 E New Circle Road Contact us1555 E New Circle Rd, Suite 118
Size
12,163 SF
Type
Community Center
Term
Negotiable
1555 E New Circle Rd, Suite 138
Size
910 SF
Type
Community Center
Term
Negotiable
2305 Woodhill Dr
Size
2,100 SF
Term
Negotiable
2319 Woodhill Dr
Size
8,200 SF
Term
Negotiable
373 Codell Dr
Size
1,600 SF
Term
Negotiable
383 Codell Dr
Size
1,600 SF
Term
Negotiable
Show more
Listing Agency:
NAI Isaac
Listed By:
Chad Voelkert · License #KY #205597
(859) 422-4408
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 11
Last Checked: Oct 14 at 8:43PM
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 NAI Isaac
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This community shopping center, encompassing approximately 379,204 square feet, is situated on New Circle Road, a major thoroughfare with a daily traffic count of approximately 42,767 vehicles. Anchored by Office Depot, HomeGoods, Tile Shop, and Dollar Tree, the center offers excellent visibility and multiple access points from New Circle Road, Palumbo Drive, Woodhill Drive, and Codell Drive. Located on East New Circle between Woodhill Drive and Palumbo Drive, the property is less than half a mile from Richmond Road, providing convenient access to downtown and I-75/64. It benefits from terrific signage exposure on a major corridor.
Key Highlights
- High traffic location on New Circle Road with +/-42,767 VPD.
- Anchored by Office Depot, HomeGoods, Tile Shop and Dollar Tree.
- Excellent visibility and multiple access points from major roads.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,510,404
Suggested Prices Based on Cap Rates
Cap Rate 5%
$90,208,080
$90.2M
Cap Rate 7%
$64,434,343
$64.4M
Cap Rate 9%
$50,115,600
$50.1M
Market Conditions
NOI Build-Up for 379,204 SF
Gross rent
$6.83M $18.00/SF
− Vacancy
−$382.2K −$1.01/SF
EGI
$6.44M $16.99/SF
− OpEx
−$1.93M −$5.10/SF
NOI
$4.51M $11.89/SF
Area
ZIP 40509
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$90,208,080
Cap Rate 7%
$64,434,343
Cap Rate 9%
$50,115,600
Alternative Uses
Best Use
Retail
$64.43M
$56.38M – $75.17M
NOI $4,510,404 @ 7.0% cap · market cap 375,867.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$79.01M
$69.13M – $92.17M
NOI $5,530,432 @ 7.0% cap · market cap 460,869.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
230k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 28%
Home Improvements & Furnishings 27%
Office Supplies 4%
Chick-fil-A
Dining
39,751 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
33,747 visits/mo
0.4 miles
McDonald's
Dining
32,397 visits/mo
0.5 miles
HomeGoods
Home Improvements & Furnishings
25,627 visits/mo
0.1 miles
Thorntons
Shops & Services
23,025 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Shopping mall - Community shopping center with high traffic and multiple access points.
Where is this shopping mall located?
The property is located at 1505-1557 E New Circle Road Lexington, KY.
What are key features of this property?
This property features: High traffic location on New Circle Road with +/-42,767 VPD.; Anchored by Office Depot, HomeGoods, Tile Shop and Dollar Tree.; Excellent visibility and multiple access points from major roads.
