Flex Suite with Drive-In
For Lease
$11 SF/Yr
2416 Palumbo Drive, Lexington, KY 40509
Commercial Lease, Lexington, KY
Space Size2,933 SF
Property Size8,640 SF
Lot Size0.52 Acres
Days on Market94
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
Changed: Oct 15
Last Checked: Nov 6 at 6:06AM
MLS# 26021068
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.
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 space. Its office area has a large private office, an open lobby/storefront, two restrooms, and a break room; the warehouse includes a 10' x 10' drive-in door. Existing HVAC with adjustable vents allows the warehouse to be air-conditioned. The concrete block building dates to 1970 and has 15' clear height, three-phase electric, fluorescent lighting, and approximately 20 parking spaces.
Planned landlord improvements include fresh paint throughout, new LVT flooring and ceiling tile in the front office, removal of the warehouse drop ceiling, and new LED lighting in both areas. Tenants can also use building signage. The property is positioned between New Circle Road and Man O War Boulevard, near I-75 and I-64, and is zoned I-1 (Light Industrial).
Planned landlord improvements include fresh paint throughout, new LVT flooring and ceiling tile in the front office, removal of the warehouse drop ceiling, and new LED lighting in both areas. Tenants can also use building signage. The property is positioned between New Circle Road and Man O War Boulevard, near I-75 and I-64, and is zoned I-1 (Light Industrial).
Key Highlights
- 2,933 SF suite with roughly equal office and warehouse areas
- 10' x 10' drive‑in door; existing HVAC can support warehouse air‑conditioning
- Planned work includes new office LVT flooring and ceiling tile, fresh paint, and LED lighting
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
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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
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Market
Lease Benchmarks for Lexington, KY
$10.91 /SF/Yr
Avg Asking Price
$6–$30 /SF/Yr
Price Range
25,466 SF
Avg Space Size
This space is priced 1% above the average of $10.91 /SF/Yr.
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A balanced office and warehouse layout includes dedicated office space, a storefront-style lobby, and a drive-in door.
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 with roughly equal office and warehouse areas; 10' x 10' drive‑in door; existing HVAC can support warehouse air‑conditioning; Planned work includes new office LVT flooring and ceiling tile, fresh paint, and LED lighting
