Exposed-Beam Retail
For Sale
Contact for pricing
309 N Ashland Ave, Lexington, KY 40502
B-4-zoned storefront with polished concrete floors, designer lighting, and a distinctive warehouse-inspired interior.
Property Size1,000 SF
Price / SF$0.02
Days on Market53
Property Features for 309 N Ashland Ave
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Retail
Zoning
B-4
Lease Term
MG
Site & Location
Neighborhood
Mentelle Neighborhood Assoc
Amenities
tall ceilings
exposed beams
polished concrete floors
designer lighting
Properties For Sale
at 309 N Ashland Ave
309 N Ashland Ave
Size
1,000 SF
Term
Negotiable
Listing Agency:
SVN Stone Commercial Real Estate
Listed By:
Weston Lockhart · License #245654
(859) 317-3538
Source:
Svnstone
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 26 at 2:22PM
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 SVN Stone Commercial Real Estate
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Investment Insights
Based on property information with market context.
This 1,000-square-foot retail space occupies a converted warehouse-style setting with tall ceilings, exposed beams, polished concrete flooring, and designer lighting. The interior character is suited to a storefront concept seeking a more distinctive presentation than a conventional retail buildout. B-4 zoning supports the property’s commercial positioning.
The property is located at 309 N Ashland Avenue in Lexington, where North Ashland Avenue connects with the Winchester Road corridor near National Avenue. The surrounding area includes converted industrial buildings occupied by maker, service, design, restaurant, brewery, and boutique businesses. The University of Kentucky campus is approximately one mile away, with about 30,000 undergraduate students and faculty. Rupp Arena and J.M. Smucker Co. are also identified as nearby anchors or employers.
The property is located at 309 N Ashland Avenue in Lexington, where North Ashland Avenue connects with the Winchester Road corridor near National Avenue. The surrounding area includes converted industrial buildings occupied by maker, service, design, restaurant, brewery, and boutique businesses. The University of Kentucky campus is approximately one mile away, with about 30,000 undergraduate students and faculty. Rupp Arena and J.M. Smucker Co. are also identified as nearby anchors or employers.
Key Highlights
- 1,000 SF retail space at 309 N Ashland Avenue
- B‑4 zoning
- Tall ceilings with exposed beams
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,516
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,320
$190.3K
Cap Rate 7%
$135,943
$135.9K
Cap Rate 9%
$105,733
$105.7K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$14.4K $14.40/SF
− Vacancy
−$806 −$0.81/SF
EGI
$13.6K $13.59/SF
− OpEx
−$4.1K −$4.08/SF
NOI
$9.5K $9.52/SF
Area
Lexington, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,320
Cap Rate 7%
$135,943
Cap Rate 9%
$105,733
Alternative Uses
Best Use
Retail
$135.9K
$119.0K – $158.6K
NOI $9,516 @ 7.0% cap · market cap 44,055.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$208.3K
$182.3K – $243.1K
NOI $14,584 @ 7.0% cap · market cap 67,518.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
47k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 41%
Home Improvements & Furnishings 3%
McDonald's
Dining
19,329 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
6,836 visits/mo
0.5 miles
Speedway
Shops & Services
6,590 visits/mo
0.4 miles
Marathon
Shops & Services
5,561 visits/mo
0.4 miles
7-Eleven
Shops & Services
5,002 visits/mo
0.4 miles
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - B-4-zoned storefront with polished concrete floors, designer lighting, and a distinctive warehouse-inspired interior.
Where is this retail space located?
The property is located at 309 N Ashland Ave Lexington, KY.
What are key features of this property?
This property features: 1,000 SF retail space at 309 N Ashland Avenue; B‑4 zoning; Tall ceilings with exposed beams
