Class A Creative Office
4040 Finn Way, Lexington, KY 40517
For Sale
Contact for pricing
Modern workspaces include fiber optic connectivity and complimentary employee parking on the second level.
Property Size40,000 SF
Days on Market95
Property Features for 4040 Finn Way
General Information
Standard status
Size
Class
Property subtype
Lease Term
Site & Location
Neighborhood
Amenities
shopping
dining
entertainment
luxury living
hospitality
chef-driven dining
fiber optic data
Building Details
Building Size
Properties For Sale
at 4040 Finn Way Contact usSuite 250
Size
2,185 SF
Type
Office Building
Term
Negotiable
Suite 350
Size
2,579 SF
Type
Office Building
Term
Negotiable
Listed By:
Paul Ray Smith, Jr · License KY #183529
(859) 420-2200
Source:
Naiglobal
Added: Aug 8
Changed: Nov 10
Last Checked: Nov 10 at 6:36AM
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 Paul Ray Smith, Jr
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Offices at Fritz Farm provides Class A creative office space within a mixed-use development. The property offers modern workspaces with Class A finishes and fiber optic data connectivity. Suite 350 has a Matterport virtual tour available for review.
The development combines street-level retail, chef-driven dining, a 120-room boutique hotel, and 306 luxury apartments. Office users also have access to free private employee parking on the second level, along with surface and covered parking options. The property is located at 4040 Finn Way in Lexington, Kentucky.
The development combines street-level retail, chef-driven dining, a 120-room boutique hotel, and 306 luxury apartments. Office users also have access to free private employee parking on the second level, along with surface and covered parking options. The property is located at 4040 Finn Way in Lexington, Kentucky.
Key Highlights
- Class A creative office space at The Offices at Fritz Farm
- Class A finishes with fiber optic data connectivity
- Free private employee parking on the second level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$499,968
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,999,360
$10.0M
Cap Rate 7%
$7,142,400
$7.1M
Cap Rate 9%
$5,555,200
$5.6M
Market Conditions
NOI Build-Up for 40,000 SF
Gross rent
$768.0K $19.20/SF
− Vacancy
−$101.4K −$2.53/SF
EGI
$666.6K $16.67/SF
− OpEx
−$166.7K −$4.17/SF
NOI
$500.0K $12.50/SF
Area
ZIP 40517
Vacancy
13.20%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,999,360
Cap Rate 7%
$7,142,400
Cap Rate 9%
$5,555,200
Alternative Uses
Best Use
Office B
$7.14M
$6.25M – $8.33M
NOI $499,968 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.29M
$7.26M – $9.68M
NOI $580,608 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 40517, KY
37,751
Population
18,306
Households
2.1
Avg Household Size
33
Median Age
41%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
6,089
Density / Sq Mi
$51,778
Median Household Income
$35,010
Median Earnings
$1,092
Median Rent
$196,300
Median Home Value
Market
Average Price Trend$/SF for Office Units in Lexington, KY
Properties on Market for Office Units in Lexington
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Modern workspaces include fiber optic connectivity and complimentary employee parking on the second level.
Where is this office unit located?
The property is located at 4040 Finn Way Lexington, KY.
What are key features of this property?
This property features: Class A creative office space at The Offices at Fritz Farm; Class A finishes with fiber optic data connectivity; Free private employee parking on the second level
