Flex Space 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 Market48
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 available
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: Sep 12
Last Checked: Sep 21 at 8:06PM
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.
Investment Insights
Based on property information with market context.
Suite 130 offers 2,933 square feet within an 8,640-square-foot concrete block flex and industrial facility constructed in 1970. The suite is arranged with approximately 50% office and 50% warehouse space, including a large private office, open lobby/storefront, two restrooms, break room, air-conditioned shop room, and a 10' x 10' drive-in door. Building features include 15' clear height, 3-phase electric service, fluorescent lighting, approximately 20 parking spaces, and tenant signage availability. The property sits on 0.515 acres and carries I-1 Light Industrial zoning.
Planned improvements include new paint throughout, LVT flooring and ceiling tile in the front office, removal of the warehouse drop ceiling, and new LED lighting in both office and warehouse areas. The facility is positioned between New Circle Road and Man O War Boulevard, with convenient access to I-75 and I-64.
Planned improvements include new paint throughout, LVT flooring and ceiling tile in the front office, removal of the warehouse drop ceiling, and new LED lighting in both office and warehouse areas. The facility is positioned between New Circle Road and Man O War Boulevard, with convenient access to I-75 and I-64.
Key Highlights
- 2,933 SF Suite 130 with approximately 50% office and 50% warehouse space
- 10' x 10' drive‑in door serving the suite
- 15' clear height and 3‑phase electric service
Property Analytics
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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
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Market
Lease Benchmarks for Lexington, KY
$11.83 /SF/Yr
Avg Asking Price
$6–$30 /SF/Yr
Price Range
23,564 SF
Avg Space Size
This space is priced 7% below the average of $11.83 /SF/Yr.
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Suite combines office and warehouse areas within an I-1 light industrial building near I-75 and I-64.
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 serving the suite; 15' clear height and 3‑phase electric service
