Office
For Sale
$400,000
635 N Broadway, Lexington, KY 40508
Built in 1920, the property provides a compact setting for office use.
Property Size1,724 SF
Price / SF$232.02
Days on Market57
Property Features for 635 N Broadway
General Information
Standard status
Active
Size
1,724 SF
Property subtype
Commercial
Additional Details
Asking Price
$400,000
Building Details
Year Built
1920
Listing Agency:
Century 21 Virginia Wilder Real Estate
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Aug 22
Changed: Oct 16
Last Checked: Oct 16 at 8:44AM
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 Century 21 Virginia Wilder Real Estate
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Investment Insights
Based on property information with market context.
This office property offers 1,724 square feet within a building constructed in 1920. The asset is identified for office use and is positioned at 635 N Broadway in Lexington, Kentucky.
The property carries a Lexington address in Fayette County and is offered as a commercial real estate asset. Its established building vintage and office classification provide the primary physical and use characteristics available for evaluation.
The property carries a Lexington address in Fayette County and is offered as a commercial real estate asset. Its established building vintage and office classification provide the primary physical and use characteristics available for evaluation.
Key Highlights
- 1,724‑square‑foot office property
- Building constructed in 1920
- Located at 635 N Broadway, Lexington, KY 40508
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,271
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,420
$385.4K
Cap Rate 7%
$275,300
$275.3K
Cap Rate 9%
$214,122
$214.1K
Market Conditions
NOI Build-Up for 1,724 SF
Gross rent
$31.0K $18.00/SF
− Vacancy
−$5.3K −$3.10/SF
EGI
$25.7K $14.90/SF
− OpEx
−$6.4K −$3.73/SF
NOI
$19.3K $11.18/SF
Area
Lexington, KY
Vacancy
17.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,420
Cap Rate 7%
$275,300
Cap Rate 9%
$214,122
Alternative Uses
Best Use
Office B
$275.3K
$240.9K – $321.2K
NOI $19,271 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.2K
$314.3K – $419.1K
NOI $25,143 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Built in 1920, the property provides a compact setting for office use.
Where is this office building located?
The property is located at 635 N Broadway Lexington, KY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,724‑square‑foot office property; Building constructed in 1920; Located at 635 N Broadway, Lexington, KY 40508
