Flex Space With Drive-In
New
For Lease
$11 SF/Yr
2416 Palumbo Drive, Lexington, KY 40509
COMMERCIAL - Lexington, KY
Space Size2,933 SF
Property Size8,640 SF
Lot Size0.52 Acres
Days on Market2
Property Features for 2416 Palumbo Drive
General Information
Property type
Commercial Lease
Property subtype
Other
Zoning description
I-1
Directions
From Downtown Lexington, take Richmond Road to a left onto New Circle Road. Turn right onto Palumbo Drive - the property will be on your right.
Subdivision
003 - Fayette County SE
Standard status
Active
APN
10482851
Size
2,933 SF
Lot size
0.52 Acres
Amenities
building signage
Building Details
Year built
1970
Listing Agency:
Block + Lot Homes
(859) 309-0099
Listed By:
Robert W Rouse
(859) 967-7299
Added: Aug 5
Last Checked: Aug 6 at 2:06PM
MLS# 26021068
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Investment Insights
Based on property information with market context.
Suite 130 offers 2,933 square feet within an 8,640-square-foot flex and industrial building on 0.515 acres. The suite is divided approximately evenly between office and warehouse areas, with a large private office, open lobby or storefront, two restrooms, break room, air-conditioned shop room, and a 10' x 10' drive-in door. The concrete block property was built in 1970 and provides 15' clear height, 3-phase electric, fluorescent lighting, approximately 20 parking spaces, and tenant signage availability. Planned improvements include new paint, LVT flooring and ceiling tile in the front office, removal of the warehouse drop ceiling, and LED lighting throughout the office and warehouse areas.
The property is positioned between New Circle Road and Man O War Boulevard, with convenient proximity to I-75 and I-64. Its I-1 Light Industrial zoning supports the property's flex-oriented office and warehouse configuration.
The property is positioned between New Circle Road and Man O War Boulevard, with convenient proximity to I-75 and I-64. Its I-1 Light Industrial zoning supports the property's flex-oriented office and warehouse configuration.
Key Highlights
- 2,933 SF Suite 130 with approximately 50% office and 50% warehouse space
- 10' x 10' drive‑in door and 15' clear height
- I‑1 Light Industrial zoning on 0.515 acres
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
1
Drive-in doors
Yes
Highway access
NNN (Triple Net)
Lease Type
$1.65 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
Median Home Value
Market
Lease Benchmarks for Lexington, KY
$11.41 /SF/Yr
Avg Asking Price
$6–$30 /SF/Yr
Price Range
33,391 SF
Avg Space Size
This space is priced 4% below the average of $11.41 /SF/Yr.
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned space combines office and warehouse functionality with convenient drive-in access.
Where is this flex space located?
The property is located at 2416 Palumbo Drive Lexington, KY.
What is the lease rate?
The lease rate is $11 SF/Yr.
What are key features of this property?
This property features: 2,933 SF Suite 130 with approximately 50% office and 50% warehouse space; 10' x 10' drive‑in door and 15' clear height; I‑1 Light Industrial zoning on 0.515 acres
