Renovated Mixed-Use
For Sale
$1,895,000
250 E Short Street, Lexington, KY 40507
Downtown asset with hardwood floors, tall ceilings, large windows, and reserved tenant parking.
Property Size8,102 SF
Price / SF$233.89
Days on Market106
Property Features for 250 E Short Street
General Information
Standard status
Active
Size
8,102 SF
Total Parking Spaces
9
Property subtype
Investment
Zoning
B-2A
Occupancy
100%
Additional Details
Cap Rate
6.7%
Amenities
9 Parking Spaces
Building Details
Year Built
1948
Year Renovated
2018
Buildings
1
Tenancy
Multi
Listing Agency:
Block & Lot Real Estate
Listed By:
Robert Lewis lll
(859) 533-9222
Source:
Kcrea.resimplifi
Added: Jul 1
Changed: Oct 4
Last Checked: Oct 12 at 4:46PM
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 Block & Lot Real Estate
Investment Insights
Based on property information with market context.
This 8,102-square-foot mixed-use building combines a renovated interior with a multi-tenant configuration. The property was renovated in 2018 and includes a split-level entrance, glass and wood beam details, hardwood flooring, tall ceilings, and large windows that bring natural light into the space. Portions of the building were also customized during the past year for its existing occupants.
Three tenants currently occupy the building, and the property is fully occupied. A dedicated parking lot on the west side provides nine reserved spaces for tenants and their clients. The property is located in downtown Lexington and is zoned B-2A. The reported capitalization rate is 6.7%.
Three tenants currently occupy the building, and the property is fully occupied. A dedicated parking lot on the west side provides nine reserved spaces for tenants and their clients. The property is located in downtown Lexington and is zoned B-2A. The reported capitalization rate is 6.7%.
Key Highlights
- 8,102‑square‑foot mixed‑use building renovated in 2018
- Fully occupied by 3 tenants
- 9 reserved parking spaces in a dedicated west‑side lot
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
Mixed Use
$1.09M
$957.1K – $1.28M
NOI $76,564 @ 7.0% cap · market cap 4.04%
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.
How Realmo checks its estimates
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?
Mixed-use property - Downtown asset with hardwood floors, tall ceilings, large windows, and reserved tenant parking.
Where is this mixed-use property 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 mixed‑use building renovated in 2018; Fully occupied by 3 tenants; 9 reserved parking spaces in a dedicated west‑side lot
