Lexington Office Condo For
For Sale
$549,000
185 Pasadena Dr Ste 255, Lexington, KY 40503
Office condo for sale in Lexington, +/-3,242 SF.
Property Size3,242 SF
Price / SF$169.34
Days on Market208
Property Features for 185 Pasadena Dr Ste 255
General Information
Standard status
Active
Size
3,242 SF
Property subtype
Office
Listing Agency:
NAI Isaac
Listed By:
Chad Voelkert · License #KY #205597
(859) 422-4408
Source:
Naiisaac
Added: Mar 27
Changed: Sep 4
Last Checked: Aug 26 at 12:18PM
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 NAI Isaac
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.
An office condo is available for sale, offering approximately 3,242 square feet of space. The property is strategically located in South Lexington near Regency Road, just off Nicholasville Road. Its location provides convenient access to New Circle Road, Interstates 75/64, the Blue Grass Airport, and downtown Lexington. Situated in the heart of the city’s thriving business area, the property benefits from easy access to major thoroughfares and alternative side road routes.
Key Highlights
- Strategically located in South Lexington near Regency Road, just off Nicholasville Road.
- Easy access to major thoroughfares and quick side road alternatives.
- Minutes away from New Circle Road, Interstates 75/64, the Blue Grass Airport and downtown Lexington.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,996
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,920
$859.9K
Cap Rate 7%
$614,229
$614.2K
Cap Rate 9%
$477,733
$477.7K
Market Conditions
NOI Build-Up for 3,242 SF
Gross rent
$66.1K $20.40/SF
− Vacancy
−$8.8K −$2.72/SF
EGI
$57.3K $17.68/SF
− OpEx
−$14.3K −$4.42/SF
NOI
$43.0K $13.26/SF
Area
ZIP 40503
Vacancy
13.32%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,920
Cap Rate 7%
$614,229
Cap Rate 9%
$477,733
Alternative Uses
Best Use
Office B
$614.2K
$537.5K – $716.6K
NOI $42,996 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.5K
$591.0K – $788.0K
NOI $47,282 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 40503, KY
28,073
Population
13,437
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,190
Density / Sq Mi
$74,161
Median Household Income
$43,061
Median Earnings
$1,110
Median Rent
$280,000
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?
Office unit - Office condo for sale in Lexington, +/-3,242 SF.
Where is this office unit located?
The property is located at 185 Pasadena Dr Ste 255 Lexington, KY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Strategically located in South Lexington near Regency Road, just off Nicholasville Road.; Easy access to major thoroughfares and quick side road alternatives.; Minutes away from New Circle Road, Interstates 75/64, the Blue Grass Airport and downtown Lexington.
