Medical Office with
1830 Versailles Rd Lexington, KY 40504
1830 Versailles Rd, Lexington, KY, 40504
$700,000
For Sale
$700,000
Former medical office offering multiple offices, exam rooms, reception areas, and basement space for added utility.
Property Size4,890 SF
Price / SF$143.15
Days on Market43
Property Features for 1830 Versailles Rd
General Information
- Standard status
- Active
- Size
- 4,890 SF
Listing agency
RE/MAX Elite Realty
(859) 893-9010
Listed by
Brittany Taylor
(859) 893-9010
Source
Exprealty
Added: Jun 11 Updated: Jul 23 at 12:49AM Checked: Jul 23 at 12:49AM
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 Realty
Investment Insights
Based on property information with market context.
This versatile commercial property includes 4,425 square feet of above-grade space plus an additional 1,736 square feet in the basement. Previously utilized as a medical office, the layout is designed for professional use and features multiple offices, treatment/exam rooms, reception and waiting areas, and ample storage.
The property is located at 1830 Versailles Road and is described as being in a highly visible and easily accessible area.
For an owner-user or investor, the existing rooming plan supports a range of professional, medical, administrative, retail, or service-based businesses, with the basement providing additional finished space for flexibility and operational needs.
The property is located at 1830 Versailles Road and is described as being in a highly visible and easily accessible area.
For an owner-user or investor, the existing rooming plan supports a range of professional, medical, administrative, retail, or service-based businesses, with the basement providing additional finished space for flexibility and operational needs.
Key Highlights
- Former medical office with 4,425 SF above‑grade space plus 1,736 SF in the basement
- Layout includes multiple offices, treatment/exam rooms, and reception/waiting areas
- Includes ample storage and flexible space suited to professional, medical, administrative, retail, or service use
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 | $88.0k | $18.00 |
| − Vacancy | −$15.1k | −$3.10 |
| EGI | $72.9k | $14.90 |
| − OpEx | −$18.2k | −$3.73 |
| NOI | $54.7k | $11.18 |
4,890 SF · lease $18.00/SF/yr · vacancy 17.20% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Commonwealth Animal Care — 2317 Versailles Rd, Lexington, KY 40504
- Alice Sears — 1801 Alexandria Dr STE 180, Lexington, KY 405043154
FAQs
What type of property is this?
Medical Office Space - Former medical office offering multiple offices, exam rooms, reception areas, and basement space for added utility.
Where is this medical office space located?
The property is located at 1830 Versailles Rd 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 with 4,425 SF above‑grade space plus 1,736 SF in the basement; Layout includes multiple offices, treatment/exam rooms, and reception/waiting areas; Includes ample storage and flexible space suited to professional, medical, administrative, retail, or service use
