Retail Suite in North Park
For Sale
Contact for pricing
524 W New Circle Road, Lexington, KY 40511
Retail suite in high-traffic Lexington retail corridor.
Property Size1,400 SF
Price / SF$0.02
Days on Market236
Property Features for 524 W New Circle Road
General Information
Standard status
Active
Size
1,400 SF
Class
B
Property subtype
Retail
Lease Term
NNN
Building Details
Building Size
1,400 SF
Properties For Sale
at 524 W New Circle Road
1400 SF Lexington Retail Space
Size
1,400 SF
Term
Negotiable
Listing Agency:
SVN Stone Commercial Real Estate
Listed By:
Weston Lockhart · License #245654
(859) 317-3538
Source:
Svn
Added: Mar 6
Changed: Oct 25
Last Checked: Oct 26 at 1:13PM
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 SVN Stone Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 524 W New Circle Rd within North Park Marketplace, this retail suite offers approximately 1,400 SF of space. The site benefits from high foot traffic and visibility due to its location in one of Lexington’s busiest retail corridors. The property is shadow-anchored by Walmart and surrounded by major national retailers including Ross, Sally Beauty, Hibbett Sports, and Domino’s. It features excellent visibility, signage, and access, along with strong daily traffic counts. Situated in a thriving Lexington retail node, the property is surrounded by a dense residential and commercial population. Ample parking and convenient ingress/egress are available for customers and employees. This suite is ideal for retail, service, or boutique users seeking exposure in a high-performing shopping center.
Key Highlights
- Prime location on W New Circle Rd, a high‑traffic retail corridor
- Located within North Park Marketplace, a busy shopping center
- Shadow‑anchored by Walmart and surrounded by major national retailers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,209
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,180
$304.2K
Cap Rate 7%
$217,271
$217.3K
Cap Rate 9%
$168,989
$169.0K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$23.0K $16.44/SF
− Vacancy
−$1.3K −$0.92/SF
EGI
$21.7K $15.52/SF
− OpEx
−$6.5K −$4.66/SF
NOI
$15.2K $10.86/SF
Area
ZIP 40511
Vacancy
5.60%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,180
Cap Rate 7%
$217,271
Cap Rate 9%
$168,989
Alternative Uses
Best Use
Retail
$217.3K
$190.1K – $253.5K
NOI $15,209 @ 7.0% cap · market cap 60,836.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.3K
$254.0K – $338.7K
NOI $20,321 @ 7.0% cap · market cap 81,284.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
342k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Superstores 26%
Shops & Services 15%
Groceries 7%
Walmart
Superstores
89,388 visits/mo
0.2 miles
Chick-fil-A
Dining
38,957 visits/mo
0.5 miles
McDonald's
Dining
25,712 visits/mo
0.3 miles
Ross Dress for Less
Apparel
19,081 visits/mo
0.1 miles
Wendy's
Dining
16,789 visits/mo
0.1 miles
Demographics for 40511, KY
36,146
Population
14,963
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
89%
High-School Grad
86.0 sq mi
ZIP Area
420
Density / Sq Mi
$77,476
Median Household Income
$43,416
Median Earnings
$1,159
Median Rent
$233,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Retail suite in high-traffic Lexington retail corridor.
Where is this retail space located?
The property is located at 524 W New Circle Road Lexington, KY.
What are key features of this property?
This property features: Prime location on W New Circle Rd, a high‑traffic retail corridor; Located within North Park Marketplace, a busy shopping center; Shadow‑anchored by Walmart and surrounded by major national retailers
