Flex Building with Automotive
For Sale
$975,000
391 United Court, Lexington, KY 40509
Climate-controlled industrial space includes dedicated offices and warehouse areas equipped for automotive operations.
Property Size7,584 SF
Lot Size0.62 Acres
Price / SF$128.56
Days on Market15
Property Features for 391 United Court
General Information
Standard status
Active
Size
7,584 SF
Lot size
0.62 Acres
Property subtype
Industrial
Zoning
I-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Office Build-Out
900 SF
Drive-In Doors
3
Conditioned Warehouse
Yes
Additional Details
Asking Price
$975,000
Amenities
fully climate-controlled
three drive-in doors
pneumatic lines
recessed in-floor drainage basin
kitchenette
Building Details
Year Built
1987
Buildings
1
Building Size
7,584 SF
Listing Agency:
Block & Lot Real Estate
Listed By:
Mac McLean
(859) 806-0161
Source:
Kcrea.resimplifi
Added: Sep 30
Changed: Oct 13
Last Checked: Oct 13 at 2:30AM
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.
Built in 1987, this 7,584-square-foot flex property combines approximately 900 square feet of office space with a warehouse. The office area has a kitchenette and two restrooms, while three drive-in doors serve the warehouse. Climate control extends throughout the building, which occupies a fully fenced 0.619-acre lot and carries I-1 zoning.
The warehouse includes a recessed floor drainage basin and pneumatic lines; a compressor hookup is needed to operate the lines. Three 6,000-pound lifts and a race-tuning lift are available to convey with the sale.
At 391 United Court in Lexington, the property offers immediate access to I-75 and is minutes from Richmond Road, New Circle Road, and Man O’ War Boulevard.
The warehouse includes a recessed floor drainage basin and pneumatic lines; a compressor hookup is needed to operate the lines. Three 6,000-pound lifts and a race-tuning lift are available to convey with the sale.
At 391 United Court in Lexington, the property offers immediate access to I-75 and is minutes from Richmond Road, New Circle Road, and Man O’ War Boulevard.
Key Highlights
- 7,584‑square‑foot building on a 0.619‑acre fenced lot
- Approximately 900 square feet of office space with kitchenette and two restrooms
- Three drive‑in doors: two 8'x10' and one 8'x8'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,537
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,090,740
$1.1M
Cap Rate 7%
$779,100
$779.1K
Cap Rate 9%
$605,967
$606.0K
Market Conditions
NOI Build-Up for 7,584 SF
Gross rent
$68.3K $9.00/SF
− Vacancy
−$4.1K −$0.54/SF
EGI
$64.2K $8.46/SF
− OpEx
−$9.6K −$1.27/SF
NOI
$54.5K $7.19/SF
Area
ZIP 40509
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,090,740
Cap Rate 7%
$779,100
Cap Rate 9%
$605,967
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.50M
NOI $90,207 @ 7.0% cap · market cap 9.25%
Second Best
Warehouse
$779.1K
$681.7K – $909.0K
NOI $54,537 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,607 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled industrial space includes dedicated offices and warehouse areas equipped for automotive operations.
Where is this flex space located?
The property is located at 391 United Court Lexington, KY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 7,584‑square‑foot building on a 0.619‑acre fenced lot; Approximately 900 square feet of office space with kitchenette and two restrooms; Three drive‑in doors: two 8'x10' and one 8'x8'
