Professional Office Building with
For Sale
Contact for pricing
300 East Main Street, Lexington, KY 40507
Well-suited for professional users, the suite includes private offices, conference room, and dedicated parking.
Property Size4,027 SF
Price / SF$146.51
Days on Market60
Property Features for 300 East Main Street
General Information
Standard status
Active
Size
4,027 SF
Total Parking Spaces
3
Property subtype
Office
Zoning
B-2 Downtown Business
Building Details
Units
1
Listing Agency:
Coleman Group Commercial Real Estate & Property Managemenet
Listed By:
Isa Mashni · License #KY 46403
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 8 at 7:58AM
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 Coleman Group Commercial Real Estate & Property Managemenet
Investment Insights
Based on property information with market context.
This highly visible professional office building is available for sale or lease and totals 4,027 square feet. The space is configured with six private offices, a conference room, a kitchen, and a copier room, supporting a variety of day-to-day business needs. On-site parking includes three dedicated spaces, providing straightforward access for staff and visitors.
The property is located at 300 East Main Street in Lexington, Kentucky, positioned for routine visibility and customer-facing accessibility along a Main Street address. With its compact office layout and dedicated parking, the building is designed to function as a self-contained professional work environment.
For tenants or buyers seeking an office space with a defined private-office plan, this building offers dedicated rooms for focused work and meetings, along with practical support areas like the kitchen and copier room. The combination of private offices and a conference room can accommodate teams that need regular client or internal discussions, while the dedicated parking helps reduce friction for appointments and daily commuting. Availability for both sale and lease may support a range of operating timelines and ownership scenarios.
The property is located at 300 East Main Street in Lexington, Kentucky, positioned for routine visibility and customer-facing accessibility along a Main Street address. With its compact office layout and dedicated parking, the building is designed to function as a self-contained professional work environment.
For tenants or buyers seeking an office space with a defined private-office plan, this building offers dedicated rooms for focused work and meetings, along with practical support areas like the kitchen and copier room. The combination of private offices and a conference room can accommodate teams that need regular client or internal discussions, while the dedicated parking helps reduce friction for appointments and daily commuting. Availability for both sale and lease may support a range of operating timelines and ownership scenarios.
Key Highlights
- 4,027 SF professional office building for sale or lease
- $590,000 asking price
- $19.50 full service lease rate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,280
$900.3K
Cap Rate 7%
$643,057
$643.1K
Cap Rate 9%
$500,156
$500.2K
Market Conditions
NOI Build-Up for 4,027 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.5K $18.00/SF
− Vacancy
−$12.5K −$3.10/SF
EGI
$60.0K $14.90/SF
− OpEx
−$15.0K −$3.73/SF
NOI
$45.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,280
Cap Rate 7%
$643,057
Cap Rate 9%
$500,156
Alternative Uses
Best Use
Office B
$643.1K
$562.7K – $750.2K
NOI $45,014 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$839.0K
$734.1K – $978.9K
NOI $58,731 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-suited for professional users, the suite includes private offices, conference room, and dedicated parking.
Where is this office building located?
The property is located at 300 East Main Street Lexington, KY.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 4,027 SF professional office building for sale or lease; $590,000 asking price; $19.50 full service lease rate
