Building Details

Building Size 178,379 SF

Year Built 1964

Listed By: John Bunch, SIOR Show Phone

Source: Svn

Added: May 14 Changed: Oct 15 Last Checked: Oct 20 at 7:07PM

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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 John Bunch, SIOR

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Investment Insights

Based on property information with market context.

1953 Mercer Road is a manufacturing facility totaling 178,379 SF on 13.976 acres, zoned I-1 (Light Industrial). The facility is equipped with four docks and two grade-level drive-in doors. The building features heavy three-phase power, 100% climate-controlled interior space, an 18’ clear height, and approximately 40’ x 40’ column spacing. A wet sprinkler system is installed throughout.

The property is described as being located in the heart of the Lexington, Kentucky industrial corridor, with access to major interstate travel within 3.5 miles to I-75/I-64.

The configuration supports typical industrial distribution and manufacturing operations with loading via four docks and drive-in access through two grade-level doors.

Key Highlights

• 178,379 SF manufacturing facility on 13.976 acres in Lexington’s industrial corridor
• Zoned I‑1 (Light Industrial) manufacturing space
• 4 docks and 2 grade‑level drive‑in doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,056,360

Cap Rate

7.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$21,127,200 $21.1M

Cap Rate 7%

$15,090,857 $15.1M

Cap Rate 9%

$11,737,333 $11.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 178,379 SF

Gross rent

$1.61M $9.00/SF

− Vacancy

−$96.3K −$0.54/SF

EGI

$1.51M $8.46/SF

− OpEx

−$452.7K −$2.54/SF

NOI

$1.06M $5.92/SF

Area

ZIP 40511

Vacancy

6.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$21,127,200

Cap Rate 7%

$15,090,857

Cap Rate 9%

$11,737,333

Alternative Uses

Best Use

Industrial

$15.09M

$13.20M – $17.61M (±1% cap)

NOI $1,056,360 @ 7.0% cap · market cap 7.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$36.99M

$32.37M – $43.15M (±1% cap)

NOI $2,589,207 @ 7.0% cap · market cap 18.49%

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

AVENTICS Corporation Building Supply

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Repair Shop Dental Office Hair Salon Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18 ft

Clear height

4

Dock-high doors

2

Drive-in doors

Yes

Heavy power

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

359

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Manufacturing facility on 13.976 acres with four docks, two grade-level doors, and 100% climate-controlled space.

Where is this manufacturing property located?

The property is located at 1953 Mercer Road Lexington, KY.

What is the asking price?

The asking price for this property is $14,000,000.

What are key features of this property?

This property features: 178,379 SF manufacturing facility on 13.976 acres in Lexington’s industrial corridor; Zoned I‑1 (Light Industrial) manufacturing space; 4 docks and 2 grade‑level drive‑in doors