Office Building with Private
For Sale
$3,790,000
277 E High St, Lexington, KY 40507
Professional layout includes multiple offices, support rooms, training space, and dedicated onsite parking.
Property Size12,684 SF
Price / SF$298.80
Days on Market180
Property Features for 277 E High St
General Information
Standard status
Active
Size
12,684 SF
Property subtype
Commercial
Building Details
Year Built
1975
Listing Agency:
Bluegrass Sotheby's International Realty
Listed By:
Christopher Mitchell · License #197495
(859) 321-2898
Source:
Centralkentuckyhomefinder
Added: Apr 21
Changed: Oct 15
Last Checked: Oct 16 at 9:16AM
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 Bluegrass Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Built in 1975, this 12,684-square-foot office building at 277 E High St includes 24 offices, eight half baths, two break areas, a training room, server room, file room, two copy rooms, and a reception area. The configuration provides a broad range of dedicated work and support spaces within one professional facility, along with an onsite private parking lot.
The property is positioned in downtown Lexington along a high-traffic corridor, with access to the District Courts, City Hall, dining, coffee shops, and banks. Its central setting places business users and visitors within the city’s core while maintaining dedicated parking at the building.
The property is positioned in downtown Lexington along a high-traffic corridor, with access to the District Courts, City Hall, dining, coffee shops, and banks. Its central setting places business users and visitors within the city’s core while maintaining dedicated parking at the building.
Key Highlights
- 12,684‑square‑foot office building constructed in 1975
- 24 offices with reception, training, server, file, and copy rooms
- Eight half baths and two break areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,782
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,835,640
$2.8M
Cap Rate 7%
$2,025,457
$2.0M
Cap Rate 9%
$1,575,356
$1.6M
Market Conditions
NOI Build-Up for 12,684 SF
Gross rent
$228.3K $18.00/SF
− Vacancy
−$39.3K −$3.10/SF
EGI
$189.0K $14.90/SF
− OpEx
−$47.3K −$3.73/SF
NOI
$141.8K $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%
$2,835,640
Cap Rate 7%
$2,025,457
Cap Rate 9%
$1,575,356
Alternative Uses
Best Use
Office B
$2.03M
$1.77M – $2.36M
NOI $141,782 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,988 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,951
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional layout includes multiple offices, support rooms, training space, and dedicated onsite parking.
Where is this office building located?
The property is located at 277 E High St Lexington, KY.
What is the asking price?
The asking price for this property is $3,790,000.
What are key features of this property?
This property features: 12,684‑square‑foot office building constructed in 1975; 24 offices with reception, training, server, file, and copy rooms; Eight half baths and two break areas
