Three-Suite Storefront
For Sale
$1,650,000
395 Elaine Dr, Lexington, KY 40504
B-1 zoning accommodates retail, office, medical, and service-oriented uses.
Property Size7,060 SF
Price / SF$233.71
Days on Market99
Property Features for 395 Elaine Dr
General Information
Standard status
Active
Size
7,060 SF
Property subtype
Retail
Zoning
B-1
Additional Details
Office Units
3
Building Details
Year Built
2010
Buildings
1
Building Size
7,060 SF
Tenancy
Multi
Listing Agency:
The Gibson Company
Listed By:
Christa Collins · License #239962
(859) 321-3552
Source:
Kcrea.resimplifi
Added: Jul 10
Changed: Sep 30
Last Checked: Oct 16 at 5:39AM
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 The Gibson Company
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Investment Insights
Based on property information with market context.
Built in 2010, this 7,060-square-foot storefront property is arranged for three occupants, with suites measuring approximately 1,180 SF, 2,995 SF, and 2,836 SF. The largest suite combines office and storage areas with double-door side access for loading and unloading. The two end-cap suites, measuring approximately 1,180 SF and 2,836 SF, are available for immediate lease, while the property is offered for sale. B-1 zoning supports a range of retail, medical, office, and service-oriented configurations.
The building fronts South Broadway and is located near downtown Lexington, the University of Kentucky campus, Baptist Health, and UK Hospital. Restaurants, shopping, and professional services are present in the surrounding area.
The building fronts South Broadway and is located near downtown Lexington, the University of Kentucky campus, Baptist Health, and UK Hospital. Restaurants, shopping, and professional services are present in the surrounding area.
Key Highlights
- 7,060‑square‑foot building with three suites
- B‑1 zoning supports retail, medical, office, and service‑oriented uses
- Suite sizes are approximately 1,180 SF, 2,995 SF, and 2,836 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,917
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,578,340
$1.6M
Cap Rate 7%
$1,127,386
$1.1M
Cap Rate 9%
$876,856
$876.9K
Market Conditions
NOI Build-Up for 7,060 SF
Gross rent
$127.1K $18.00/SF
− Vacancy
−$21.9K −$3.10/SF
EGI
$105.2K $14.90/SF
− OpEx
−$26.3K −$3.73/SF
NOI
$78.9K $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%
$1,578,340
Cap Rate 7%
$1,127,386
Cap Rate 9%
$876,856
Alternative Uses
Best Use
Office B
$1.13M
$986.5K – $1.32M
NOI $78,917 @ 7.0% cap · market cap 4.78%
Second Best
Retail
$959.7K
$839.8K – $1.12M
NOI $67,180 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,965 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,505
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40504, KY
26,042
Population
13,175
Households
2
Avg Household Size
34
Median Age
32%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
4,200
Density / Sq Mi
$43,015
Median Household Income
$29,195
Median Earnings
$888
Median Rent
$209,400
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 Office in South region
Similar Off Market Nearby
- Imperial Flowers — 393 Waller Ave #17, Lexington, KY 40504
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Frequently Asked Questions
What type of property is this?
Storefront property - B-1 zoning accommodates retail, office, medical, and service-oriented uses.
Where is this storefront property located?
The property is located at 395 Elaine Dr Lexington, KY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 7,060‑square‑foot building with three suites; B‑1 zoning supports retail, medical, office, and service‑oriented uses; Suite sizes are approximately 1,180 SF, 2,995 SF, and 2,836 SF
