Renovated Multi-Tenant Office
For Sale
$1,895,000
250 E Short Street, Lexington, KY 40507
Commercial Sale, Lexington, KY
Property Size8,102 SF
Lot Size0.12 Acres
Price / SF$233.89
Days on Market98
Property Features for 250 E Short Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
B-2A
Parking
9
Subdivision
Commercial
Directions
S. Limestone inbound to a right on E. Short Street. Property will be on your right.
Standard status
Active
APN
10200000
Size
8,102 SF
Lot size
0.12 Acres
Building Details
Year built
1948
Floors in Building
3
Listing Agency:
Block + Lot Homes
(859) 309-0099
Listed By:
Robert K Lewis · License #275598
(859) 533-9222
Added: Jul 1
Changed: Oct 2
Last Checked: Oct 6 at 1:06AM
MLS# 26015715
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.
Located at 250 E. Short Street in Lexington, this 8,102-square-foot office building combines a 1948 structure with a comprehensive 2018 renovation and subsequent tenant-specific improvements. Interior features include hardwood floors, high ceilings, large windows, glass and wood beam details, and a split-level entry. The property is configured for three tenants and is fully occupied.
A dedicated parking lot on the west side provides nine reserved spaces for tenants and visitors. The property occupies 0.12 acres in downtown Lexington and is presented as an income-producing office investment with a 6.7% capitalization rate.
A dedicated parking lot on the west side provides nine reserved spaces for tenants and visitors. The property occupies 0.12 acres in downtown Lexington and is presented as an income-producing office investment with a 6.7% capitalization rate.
Key Highlights
- 8,102‑square‑foot office building on 0.12 acres
- Comprehensively renovated in 2018 with later tenant‑specific improvements
- Fully occupied by three tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,564
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,811,280
$1.8M
Cap Rate 7%
$1,293,771
$1.3M
Cap Rate 9%
$1,006,267
$1.0M
Market Conditions
NOI Build-Up for 8,102 SF
Gross rent
$145.8K $18.00/SF
− Vacancy
−$25.1K −$3.10/SF
EGI
$120.8K $14.90/SF
− OpEx
−$30.2K −$3.73/SF
NOI
$90.6K $11.18/SF
Area
Lexington, KY
Vacancy
17.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,811,280
Cap Rate 7%
$1,293,771
Cap Rate 9%
$1,006,267
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,564 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,162 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,893
Businesses Nearby
Explore this area
Business Placement
Demographics for 40507, KY
2,043
Population
1,765
Households
1.2
Avg Household Size
44
Median Age
54%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
5,108
Density / Sq Mi
$34,543
Median Household Income
$40,826
Median Earnings
$642
Median Rent
$391,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Downtown office property with updated interiors, dedicated parking, and multiple existing occupants.
Where is this office building located?
The property is located at 250 E Short Street Lexington, KY.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 8,102‑square‑foot office building on 0.12 acres; Comprehensively renovated in 2018 with later tenant‑specific improvements; Fully occupied by three tenants
