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505 Third Street, Lexington, KY 40508

Office suites are available along the Third and Midland Ave corridor near Downtown Lexington attractions.

Property Size2,895 SF
Price / SF$0.01
Days on Market500

Property Features for 505 Third Street

General Information

Standard status Active
Size 2,895 SF
Property subtype Office

Amenities

3

Building Details

Year Built 1938
Stories 1
Listing Agency: Guide Realty, Inc.
Listed By: Chancellor Scott
Source: Xome
Added: Apr 19, 2025 Changed: Aug 30 Last Checked: Aug 30 at 10:02PM

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 Guide Realty, Inc.

Investment Insights

Based on property information with market context.

Aspen Heights offers customizable office suites within a property built in 1938. Available spaces range from approximately 788 sqft to just over 7300 sqft, providing multiple office configuration options within the project.

The property is located at 505 Third Street in Lexington, along the Third and Midland Ave corridor and near Downtown Lexington. Nearby destinations identified with the property include The Met, Lyric Theatre, Artist Village, and Isaac Murphy Park. The development is positioned as a setting that brings community and business together.

Key Highlights

  • Customizable office suites from approximately 788 sqft to just over 7300 sqft
  • Located at 505 Third Street, Lexington, KY 40508
  • Positioned along the Third and Midland Ave corridor

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Garden Center Veterinary Clinic Butcher Pet Store Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,447
Businesses Nearby

Demographics for 40508, KY

25,586
Population
11,458
Households
2.2
Avg Household Size
26
Median Age
36%
College-Educated
86%
High-School Grad
4.2 sq mi
ZIP Area
6,092
Density / Sq Mi
$28,040
Median Household Income
$13,316
Median Earnings
$900
Median Rent
$174,900
Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019
16.4% 2020
17.3% 2021
18% 2022
18.6% 2023
20.3% 2024
20.2% 2025
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Frequently Asked Questions

What type of property is this?
Office units - Office suites are available along the Third and Midland Ave corridor near Downtown Lexington attractions.
Where is this office units located?
The property is located at 505 Third Street Lexington, KY.
What are key features of this property?
This property features: Customizable office suites from approximately 788 sqft to just over 7300 sqft; Located at 505 Third Street, Lexington, KY 40508; Positioned along the Third and Midland Ave corridor
More about this property
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