Office Building with On-Site
New
For Sale
$3,790,000
277 E High Street, Lexington, KY 40507
Commercial Sale, Lexington, KY
Property Size12,684 SF
Lot Size0.39 Acres
Price / SF$298.80
Days on Market2
Property Features for 277 E High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-2B
Rooms
Basement
Parking
34
Basement
Finished, Walk-Up Access
Subdivision
Downtown
Directions
High Street cross over Rose Street. Building is on your right.
Standard status
Active
APN
14636600
Size
12,684 SF
Lot size
0.39 Acres
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Zoned, Heat Pump (Heating)
Cooling system
Electric, Zoned, Heat Pump
Building Details
Year built
1975
Floors in Building
3
Building materials
Steel Frame, Brick, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
Christopher Mitchell
(859) 321-2898
Added: Oct 22
Last Checked: Oct 23 at 2:06AM
MLS# 26029225
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.
This 12,684-square-foot office building sits on a 0.39-acre parcel and was built in 1975. Its 24 offices are supported by eight half baths, two break areas, a training room, server and file rooms, two copy rooms, and a reception area. A basement provides additional space. Construction materials include steel frame, brick, concrete, and stucco; the building also has zoned electric heat pump heating and cooling, a shingle roof, and cable availability.
An on-site parking lot serves the property at 277 E High Street in Lexington. The location is described as downtown, with the District Courts, City Hall, restaurants, coffee shops, and banks nearby.
An on-site parking lot serves the property at 277 E High Street in Lexington. The location is described as downtown, with the District Courts, City Hall, restaurants, coffee shops, and banks nearby.
Key Highlights
- 12,684‑square‑foot office building on a 0.39‑acre parcel
- 24 offices, eight half baths, two break areas, and one training room
- Server room, file room, two copy rooms, reception area, and basement
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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Property Analytics
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Current Use
Lease Details
24
Office units
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 - The layout includes multiple work areas, a training room, and private parking on the property.
Where is this office building located?
The property is located at 277 E High Street 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 on a 0.39‑acre parcel; 24 offices, eight half baths, two break areas, and one training room; Server room, file room, two copy rooms, reception area, and basement
