Climate-Controlled Flex
New
For Sale
$1,978,080
700 E Loudon Ave, Lexington, KY 40505
Versatile industrial space combines private offices, conference rooms, warehouse functions, and additional basement storage.
Property Size15,216 SF
Lot Size1.58 Acres
Price / SF$130
Days on Market5
Property Features for 700 E Loudon Ave
General Information
Standard status
Active
Size
15,216 SF
Lot size
1.58 Acres
Property subtype
Retail
Zoning
I-1
Warehouse & Industrial
Clear Span
Yes
Dock-High Doors
1
Drive-In Doors
1
Three-Phase Power
Yes
Heavy Power
Yes
Conditioned Warehouse
Yes
Additional Details
Fenced Yard
Yes
Building Details
Building Size
15,216 SF
Listing Agency:
SVN | Stone Commercial Real Estate
Listed By:
Gabe Measner
(859) 630-7106
Source:
Svnstone
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 15 at 4:41AM
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.
This 15,216-square-foot flex facility occupies 1.582 acres of I-1-zoned land at 700 E. Loudon Ave. The building includes 15+ private offices, multiple conference rooms, a kitchen, and a fully climate-controlled, clear-span warehouse. Industrial improvements include one grade-level drive-in door, one dock-height door, three-phase heavy power, compressed air drops, and additional basement storage.
The property is in Lexington, KY, with access to Winchester Road and New Circle Road. The site is partially fenced and includes a security gate, supporting a combination of office and industrial operations within one facility.
The property is in Lexington, KY, with access to Winchester Road and New Circle Road. The site is partially fenced and includes a security gate, supporting a combination of office and industrial operations within one facility.
Key Highlights
- 15,216‑square‑foot flex facility on 1.582 acres
- I‑1 zoning at 700 E. Loudon Ave, Lexington, KY 40505
- 15+ private offices, multiple conference rooms, and a kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,415
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,428,300
$2.4M
Cap Rate 7%
$1,734,500
$1.7M
Cap Rate 9%
$1,349,056
$1.3M
Market Conditions
NOI Build-Up for 15,216 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$200.9K $13.20/SF
− Vacancy
−$14.1K −$0.92/SF
EGI
$186.8K $12.28/SF
− OpEx
−$65.4K −$4.30/SF
NOI
$121.4K $7.98/SF
Area
Lexington, KY
Vacancy
7.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,428,300
Cap Rate 7%
$1,734,500
Cap Rate 9%
$1,349,056
Alternative Uses
Best Use
Flex RnD
$1.73M
$1.52M – $2.02M
NOI $121,415 @ 7.0% cap · market cap 6.14%
Second Best
Warehouse
$1.56M
$1.37M – $1.82M
NOI $109,418 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,915 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial space combines private offices, conference rooms, warehouse functions, and additional basement storage.
Where is this flex space located?
The property is located at 700 E Loudon Ave Lexington, KY.
What is the asking price?
The asking price for this property is $1,978,080.
What are key features of this property?
This property features: 15,216‑square‑foot flex facility on 1.582 acres; I‑1 zoning at 700 E. Loudon Ave, Lexington, KY 40505; 15+ private offices, multiple conference rooms, and a kitchen
