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    Lexington Industrial Facility on 6 Acres Title is generated by Realmo AI

    510 Henry Clay Blvd, Lexington, KY 40505

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    For Sale
    $4,500,000

    Strategically located 105,804 SF industrial facility on 5.957 acres.

    Type:Industrial
    Property size:
    105,804 SF
    Price / SF:
    $42/SF
    Added:
    Nov 21, 2025
    Days on Market:
    188
    Last Refresh:
    May 8 at 8:36 pm

    Property Features for 510 Henry Clay Blvd

    General Information

    Standard status
    Active
    Size
    105,804 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    John Bunch, SIOR

    Listing agent John Bunch, SIOR

    Listing office

    Listing date Nov 21, 2025

    Source Svn

    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 John Bunch, SIOR

    HighLights

    • Strategically located inside New Circle Road on a large 6‑acre tract.
    • Substantial existing infrastructure including heavy 480/3 phase power and reinforced concrete slab.
    • Over 105,000 square feet of space with large clear span sections.
    • Positioned for future redevelopment opportunities due to its industrial zoning.
    • Features include expansive outdoor storage capabilities, multiple grade‑level doors, and (3) dock‑height doors.
    • Located in Lexington, KY, a city recognized for its high quality of life.

    Overview

    Located in Lexington, Kentucky, this industrial facility offers a low basis purchase opportunity. The property, situated on Henry Clay Boulevard, is positioned inside New Circle Road on a 5.957-acre tract. Originally constructed in 1941, the 105,804 square foot building has been used for manufacturing and distribution. The facility features heavy 480/3 phase power, a reinforced concrete slab, large clear span sections, and gas-fired forced air heat. It also includes a 12' clear height, three dock-high doors, multiple grade-level doors, over 5,000 square feet of finished office space, and full fire suppression. The property provides expansive outdoor storage capabilities and abundant parking. The site is zoned I-1 (Light Industrial) with an adaptive reuse overlay. The property benefits from a population density of over 225,000 people within a 5-mile radius. In addition to traditional industrial uses, the asset is positioned for future redevelopment opportunities. The property has 4 Megawatts of existing power with the ability to step up.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lexel Imaging Systems ... Industrial Manufacturer Lexington Makerspace Charitable Organization Wondrous Ceramics Training Center Scott Pfeiffer & Company Landscaping

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Accounting Firm Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4658
    Latitude
    38.0356

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    FAQs

    What type of property is this?
    Manufacturing property - Strategically located 105,804 SF industrial facility on 5.957 acres.
    Where is this manufacturing property located?
    The property is located at 510 Henry Clay Blvd Lexington, KY.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: Strategically located inside New Circle Road on a large 6‑acre tract.; Substantial existing infrastructure including heavy 480/3 phase power and reinforced concrete slab.; Over 105,000 square feet of space with large clear span sections.
    (859) 433-8911
    We can help!
    Listing Contact
    John Bunch, SIOR
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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