Office Suite with Full
New
For Sale
$469,000
535 Wellington Way Suite 280, Lexington, KY 40503
A second-floor layout includes private offices, a conference room, a kitchen and a full bathroom.
Property Size1,782 SF
Price / SF$263.19
Days on Market4
Property Features for 535 Wellington Way Suite 280
General Information
Standard status
Active
Size
1,782 SF
Class
Class A
Property subtype
Office
Zoning
P-1
Additional Details
Floor
2
Amenities
full kitchen
private full bathroom with shower
glass walls
floor-to-ceiling windows
ample parking
walking trails
Listing Agency:
SVN Stone Commercial Real Estate
Listed By:
Neal Metcalfe · License #217705
(859) 312-8069
Source:
Svnstone
Added: Oct 4
Last Checked: Oct 7 at 9:57AM
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
Investment Insights
Based on property information with market context.
The 1,782-square-foot office suite occupies the second floor and is arranged with four private offices and a conference room. A lounge area can also function as open work space. The suite includes a full kitchen and a private full bathroom with a shower. Glass partitions and floor-to-ceiling windows bring natural light into the interior. Zoning is P-1.
At 535 Wellington Way, the property is near Nicholasville Road, Man O'War Boulevard, Clays Mill Road and New Circle Road. Neighboring office buildings accommodate medical and dental practices, financial advisors, attorneys, insurance businesses and salon or spa services. Wellington Park, a 7-acre property with 1.5 miles of walking trails, is next door.
At 535 Wellington Way, the property is near Nicholasville Road, Man O'War Boulevard, Clays Mill Road and New Circle Road. Neighboring office buildings accommodate medical and dental practices, financial advisors, attorneys, insurance businesses and salon or spa services. Wellington Park, a 7-acre property with 1.5 miles of walking trails, is next door.
Key Highlights
- 1,782 SF second‑floor office suite
- Four private offices and a conference room
- Lounge area can also serve as open work space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,633
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,660
$472.7K
Cap Rate 7%
$337,614
$337.6K
Cap Rate 9%
$262,589
$262.6K
Market Conditions
NOI Build-Up for 1,782 SF
Gross rent
$36.4K $20.40/SF
− Vacancy
−$4.8K −$2.72/SF
EGI
$31.5K $17.68/SF
− OpEx
−$7.9K −$4.42/SF
NOI
$23.6K $13.26/SF
Area
ZIP 40503
Vacancy
13.32%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,660
Cap Rate 7%
$337,614
Cap Rate 9%
$262,589
Alternative Uses
Best Use
Office B
$337.6K
$295.4K – $393.9K
NOI $23,633 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$371.3K
$324.9K – $433.2K
NOI $25,989 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
980
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - A second-floor layout includes private offices, a conference room, a kitchen and a full bathroom.
Where is this office units located?
The property is located at 535 Wellington Way Suite 280 Lexington, KY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 1,782 SF second‑floor office suite; Four private offices and a conference room; Lounge area can also serve as open work space
