Office Condo with Private
New
For Sale
$950,000
437 Lewis Hargett Circle, Lexington, KY 40503
Office configuration includes a conference room, kitchenette, and two restrooms.
Property Size5,096 SF
Price / SF$186.42
Days on Market5
Property Features for 437 Lewis Hargett Circle
General Information
Standard status
Active
Size
5,096 SF
Class
A
Property subtype
Office
Additional Details
Office Units
1
Building Details
Building Size
5,096 SF
Year Built
2003
Listing Agency:
(502) 387-1734
Listed By:
Gordy Hoagland, CCIM · License #KY 269283
Source:
Whiteoakcre
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 4 at 5:36AM
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 Gordy Hoagland, CCIM
Investment Insights
Based on property information with market context.
This 5,096 SF office condo suite, built in 2003, combines private offices with shared work areas. Approximately 12 offices are positioned along the exterior, providing perimeter windows and natural light. The interior includes an open area configured for 10 workstations, although those workstations will not convey with the property.
A conference room of approximately 450 SF supports meetings and presentations, while the kitchenette adds an employee support area. Two restrooms are also included within the suite. The combination of enclosed offices, collaborative workspace, meeting space, and support areas provides a practical configuration for professional, corporate, or administrative operations.
A conference room of approximately 450 SF supports meetings and presentations, while the kitchenette adds an employee support area. Two restrooms are also included within the suite. The combination of enclosed offices, collaborative workspace, meeting space, and support areas provides a practical configuration for professional, corporate, or administrative operations.
Key Highlights
- 5,096 SF combined office condo suite
- Approximately 12 private perimeter offices with windows
- Approximately 450 SF conference room
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.0k | $20.40 |
| − Vacancy | −$13.8k | −$2.72 |
| EGI | $90.1k | $17.68 |
| − OpEx | −$22.5k | −$4.42 |
| NOI | $67.6k | $13.26 |
5,096 SF · lease $20.40/SF/yr · vacancy 13.32% · expense 25.00%
Alternative Uses
Best Use
Office B
$965.5K
$844.8K – $1.13M
NOI $67,583 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.0K – $1.24M
NOI $74,322 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 40503, KY
28,073
Population
13,437
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,190
Density / Sq Mi
$74,161
Median Household Income
$43,061
Median Earnings
$1,110
Median Rent
$280,000
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 units - Office configuration includes a conference room, kitchenette, and two restrooms.
Where is this office units located?
The property is located at 437 Lewis Hargett Circle Lexington, KY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5,096 SF combined office condo suite; Approximately 12 private perimeter offices with windows; Approximately 450 SF conference room
