Brick Mixed-Use Office
1618 Harrodsburg Road, Lexington, KY 40504
For Sale
$500,000
Commercial Sale, Lexington, KY
Property Size2,240 SF
Lot Size0.28 Acres
Price / SF$223.21
Days on Market54
Property Features for 1618 Harrodsburg Road
General Information
Property type
Property subtype
Zoning description
Rooms
Parking
Basement
Subdivision
Directions
Special listing conditions
Standard status
APN
Size
Lot size
Utilities
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Noel Auctioneers and Real Estate Advisors
Listed By:
Jonathan Noel · License KY #72617
(859) 612-9175
Added: Sep 18
Changed: Oct 12
Last Checked: Nov 10 at 1:06PM
MLS# 26025883
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,240-square-foot mixed-use property combines a brick building with a professional office layout and residential character. Built in 1948, the main level includes reception, a waiting room, private offices, a conference room, and additional work areas. Hardwood floors and a finished basement add functional and architectural detail.
The basement provides lab or work zones along with substantial storage. The property occupies 0.276 acres at 1618 Harrodsburg Road in Lexington, near St. Joseph Hospital and the Harrodsburg Road Office Park. Natural gas forced-air heating, electric and heat-pump cooling, water availability, public sewer, and a shingle roof are in place. The layout is identified as suitable for medical practices, counseling clinics, corporate offices, and professional service firms.
The basement provides lab or work zones along with substantial storage. The property occupies 0.276 acres at 1618 Harrodsburg Road in Lexington, near St. Joseph Hospital and the Harrodsburg Road Office Park. Natural gas forced-air heating, electric and heat-pump cooling, water availability, public sewer, and a shingle roof are in place. The layout is identified as suitable for medical practices, counseling clinics, corporate offices, and professional service firms.
Key Highlights
- 2,240‑square‑foot mixed‑use property on 0.276 acres
- Main level includes reception, waiting room, private offices, conference room, and work areas
- Finished basement offers lab or work zones plus extensive storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,039
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,780
$500.8K
Cap Rate 7%
$357,700
$357.7K
Cap Rate 9%
$278,211
$278.2K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$40.3K $18.00/SF
− Vacancy
−$6.9K −$3.10/SF
EGI
$33.4K $14.90/SF
− OpEx
−$8.3K −$3.73/SF
NOI
$25.0K $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%
$500,780
Cap Rate 7%
$357,700
Cap Rate 9%
$278,211
Alternative Uses
Best Use
Office B
$357.7K
$313.0K – $417.3K
NOI $25,039 @ 7.0% cap · market cap 5.01%
Second Best
Healthcare Medical
$339.1K
$296.8K – $395.7K
NOI $23,740 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,669 @ 7.0% cap · market cap 6.53%
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
1,618
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level offices include reception, waiting, conference, and private work areas.
Where is this mixed-use property located?
The property is located at 1618 Harrodsburg Road Lexington, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,240‑square‑foot mixed‑use property on 0.276 acres; Main level includes reception, waiting room, private offices, conference room, and work areas; Finished basement offers lab or work zones plus extensive storage
