Freestanding Brick Office
For Sale
$975,000
1708 Jaggie Fox Way, Lexington, KY 40511
Freestanding brick office building in an I-1 zone with 25+ paved parking spaces and an available 1,500 SF open lower level.
Property Size6,800 SF
Days on Market149
Property Features for 1708 Jaggie Fox Way
General Information
Standard status
Active
Size
6,800 SF
Total Parking Spaces
25
Property subtype
Industrial
Zoning
I-1
Building Details
Building Size
6,800 SF
Year Built
2000
Construction
Brick
Listing Agency:
SVN Stone Commercial Real Estate
Listed By:
Harrison Lane
(859) 537-1051
Source:
Svn
Added: Apr 11
Changed: Sep 4
Last Checked: Sep 5 at 7:19AM
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 SVN Stone Commercial Real Estate
Investment Insights
Based on property information with market context.
Freestanding brick office building built in 2000, located in an I-1 zone. The property includes a lower level offering approximately 1,500 SF of open space. The building is available for sale, and it is also available for lease.
The site provides over 25 paved parking spaces, supporting convenient on-site access for employees and visitors.
For prospects evaluating layout and use flexibility, the available lower level is configured as open space, offering room to adapt for a variety of office-related needs.
The site provides over 25 paved parking spaces, supporting convenient on-site access for employees and visitors.
For prospects evaluating layout and use flexibility, the available lower level is configured as open space, offering room to adapt for a variety of office-related needs.
Key Highlights
- Freestanding brick office building in an I‑1 zone, built in 2000
- 25+ paved parking spaces on‑site
- Lower level offers roughly 1,500 SF of open space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,407
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,688,140
$1.7M
Cap Rate 7%
$1,205,814
$1.2M
Cap Rate 9%
$937,856
$937.9K
Market Conditions
NOI Build-Up for 6,800 SF
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.
Gross rent
$130.6K $19.20/SF
− Vacancy
−$18.0K −$2.65/SF
EGI
$112.5K $16.55/SF
− OpEx
−$28.1K −$4.14/SF
NOI
$84.4K $12.41/SF
Area
ZIP 40511
Vacancy
13.80%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,688,140
Cap Rate 7%
$1,205,814
Cap Rate 9%
$937,856
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,407 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,703 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 40511, KY
36,146
Population
14,963
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
89%
High-School Grad
86.0 sq mi
ZIP Area
420
Density / Sq Mi
$77,476
Median Household Income
$43,416
Median Earnings
$1,159
Median Rent
$233,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding brick office building in an I-1 zone with 25+ paved parking spaces and an available 1,500 SF open lower level.
Where is this office building located?
The property is located at 1708 Jaggie Fox Way Lexington, KY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Freestanding brick office building in an I‑1 zone, built in 2000; 25+ paved parking spaces on‑site; Lower level offers roughly 1,500 SF of open space
