Medical Office Space with
For Sale
$700,000
1830 Versailles Road, Lexington, KY 40504
Commercial Sale, Lexington, KY
Property Size6,161 SF
Lot Size0.25 Acres
Price / SF$143.15
Days on Market139
Property Features for 1830 Versailles Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
P1
Rooms
Basement
Parking
10
Parking features
Offsite
Basement
Finished
Subdivision
Terrace View
Directions
Versailles Rd (US-60) outbound from downtown Lexington. Property located on the right at 1830 Versailles Rd, adjacent to Cardinal Hill Rehabilitation Hospital and minutes from New Circle Rd.
Standard status
Active
APN
24835400
Size
4,890 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1978
Floors in Building
2
Building materials
Stone, Wood Siding
Roof type
Composition
Listing Agency:
RE/MAX Elite Realty
(859) 408-7922
Listed By:
Brittany Taylor
(859) 893-9010
Added: Jun 11
Changed: Oct 2
Last Checked: Oct 27 at 1:06PM
MLS# 26013466
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.
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Investment Insights
Based on property information with market context.
This medical office property includes a multi-room layout with offices, treatment and exam rooms, reception and waiting areas, and storage. The building also has a basement, central air, electric heat, a composition roof, and a combination of stone and wood siding. Constructed in 1978, the property sits on a 0.25-acre lot and is served by public sewer.
The existing configuration supports professional, medical, administrative, retail, or service-oriented operations, subject to applicable requirements. Offsite parking is listed among the property features. Its address is 1830 Versailles Road in Lexington, Kentucky.
The existing configuration supports professional, medical, administrative, retail, or service-oriented operations, subject to applicable requirements. Offsite parking is listed among the property features. Its address is 1830 Versailles Road in Lexington, Kentucky.
Key Highlights
- Former medical office layout with offices, treatment and exam rooms, reception, waiting areas, and storage
- 0.25‑acre lot at 1830 Versailles Road, Lexington, KY 40504
- Basement included in the building configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,660
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,093,200
$1.1M
Cap Rate 7%
$780,857
$780.9K
Cap Rate 9%
$607,333
$607.3K
Market Conditions
NOI Build-Up for 4,890 SF
Gross rent
$88.0K $18.00/SF
− Vacancy
−$15.1K −$3.10/SF
EGI
$72.9K $14.90/SF
− OpEx
−$18.2K −$3.73/SF
NOI
$54.7K $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%
$1,093,200
Cap Rate 7%
$780,857
Cap Rate 9%
$607,333
Alternative Uses
Best Use
Office B
$780.9K
$683.3K – $911.0K
NOI $54,660 @ 7.0% cap · market cap 7.81%
Second Best
Healthcare Medical
$740.4K
$647.8K – $863.8K
NOI $51,826 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.02M
$891.5K – $1.19M
NOI $71,317 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Alice Sears — 1801 Alexandria Dr STE 180, Lexington, KY 405043154
- Commonwealth Animal Care — 2317 Versailles Rd, Lexington, KY 40504
Frequently Asked Questions
What type of property is this?
Medical Office Space - Former medical office with multiple rooms, reception areas, storage, and flexible commercial-use potential.
Where is this medical office space located?
The property is located at 1830 Versailles Road Lexington, KY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Former medical office layout with offices, treatment and exam rooms, reception, waiting areas, and storage; 0.25‑acre lot at 1830 Versailles Road, Lexington, KY 40504; Basement included in the building configuration
