Professional Office with Finished
1618 Harrodsburg Road Lexington, KY 40504
1618 Harrodsburg Road, Lexington, KY, 40504
$599,000
For Sale
$599,000
Older home conversion with a reception and waiting area, multiple offices, and a finished basement with lab/work areas.
Property Size1,980 SF
Price / SF$302.53
Days on Market21
Property Features for 1618 Harrodsburg Road
General Information
- Standard status
- Active
- Size
- 1,980 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1948
Listing Agency
RE/MAX Elite Lexington
(859) 338-7857
Listed by
Karen Angelucci · License #217748
(859) 338-7857
Source
Xome
Added: Jun 30 Checked: Jul 19 at 2:02 am
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 RE/MAX Elite Lexington
Investment Insights
Based on property information with market context.
This office building, originally a residential home, has been converted for professional use and features character throughout, including hardwood floors. The interior includes a welcoming reception area with a waiting room, multiple private offices, a conference room, and flexible workspace to support a range of office-related activities.
A finished basement adds additional usable space, including lab/work areas and generous storage. The property is being sold AS IS, and the buyer is responsible for verifying zoning and intended use.
Located near St. Joseph Hospital and an office park on Harrodsburg Road, the property is positioned for convenient access for professional tenants and visitors.
A finished basement adds additional usable space, including lab/work areas and generous storage. The property is being sold AS IS, and the buyer is responsible for verifying zoning and intended use.
Located near St. Joseph Hospital and an office park on Harrodsburg Road, the property is positioned for convenient access for professional tenants and visitors.
Key Highlights
- 1948 mixed‑use property being sold AS IS
- Commercial setup includes a reception area and waiting room
- Multiple private offices plus a conference room and flexible workspace
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 | $35.6k | $18.00 |
| − Vacancy | −$6.1k | −$3.10 |
| EGI | $29.5k | $14.90 |
| − OpEx | −$7.4k | −$3.73 |
| NOI | $22.1k | $11.18 |
1,980 SF · lease $18.00/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$316.2K
$276.7K – $368.9K
NOI $22,132 @ 7.0% cap · market cap 3.69%
Second Best
Healthcare Medical
$299.8K
$262.3K – $349.8K
NOI $20,985 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$412.5K
$361.0K – $481.3K
NOI $28,877 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Caleb Rowe
Physician
Fischer Warren E ...
Dental Office
Stephanie K. Pridemore, ...
Medical Clinic
Oliver Winston Addiction ...
Medical Clinic
Oliver Winston Behavioral ...
Medical Clinic
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FAQs
What type of property is this?
Medical Office Space - Older home conversion with a reception and waiting area, multiple offices, and a finished basement with lab/work areas.
Where is this medical office space located?
The property is located at 1618 Harrodsburg Road Lexington, KY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1948 mixed‑use property being sold AS IS; Commercial setup includes a reception area and waiting room; Multiple private offices plus a conference room and flexible workspace
