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    Warehouse with Fenced Outdoor Storage Title is generated by Realmo AI

    740 758 Phillips Lane, Lexington, KY 40504

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    Heavy industrial warehouse with fenced outdoor storage, well-suited for logistics, contractors, and inventory-holding operations.

    Type:Industrial
    Property size:
    5,080 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $1.75/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 5:20 am

    Property Features for 740 758 Phillips Lane

    General Information

    Standard status
    Active
    Size
    5,080 SF
    Lot size
    2.00 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1960

    Properties For Sale

    at 740 758 Phillips Lane Contact us

    We can help!

    Listing Contact
    Travis Rose, MBA

    Listing agent Travis Rose, MBA

    Listing office

    Listing date Jun 2, 2026

    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 Travis Rose, MBA

    HighLights

    • 5,080 SF warehouse with outdoor storage on a 2‑acre fenced lot
    • Zoned I‑2 (heavy industrial)
    • Available for lease starting August 1, 2026
    • Lease rate: $8,900 per month NNN

    Overview

    This property offers a warehouse plus fenced outdoor storage designed to support active, containerized or yard-based operations. The facility includes 5,080 SF of warehouse space and an outdoor storage yard totaling 2 acres, fully fenced for controlled access and practical material staging. The property is positioned for heavy-duty use under I-2 Heavy Industrial zoning.

    Located at 740 Phillips Lane in Lexington, KY, the site provides straightforward on-site capacity for storing equipment, materials, or inventory alongside warehouse operations. The combination of indoor space and secured outdoor yard helps streamline day-to-day workflows for businesses that need both enclosed and open storage options.

    For tenants or operators seeking a functional industrial setup, this configuration can accommodate a range of warehouse and storage-focused users, including distribution support, light industrial service providers, and contractors requiring yard space. With fenced outdoor storage and heavy industrial zoning, the property is particularly attractive for users looking to consolidate inventory and work-in-progress materials in one location while maintaining practical separation of stored goods.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    • Go Mini's of Lexington — 1180 Manchester St suite c, Lexington, KY 40508
    • Wildcat Mini Storage — 1186 Manchester St, Lexington, KY 40508
    • Versailles Road Storage — 1216 Versailles Rd, Lexington, KY 40508
    • Pepper Storage, Lexington, KY — 1186 Manchester St, Lexington, KY 40508
    • Aaa Self Storage — 1216 Versailles Rd, Lexington, KY 40508

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.532648
    Latitude
    38.056547

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    FAQs

    What type of property is this?
    Warehouse - Heavy industrial warehouse with fenced outdoor storage, well-suited for logistics, contractors, and inventory-holding operations.
    Where is this warehouse located?
    The property is located at 740 758 Phillips Lane Lexington, KY.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 5,080 SF warehouse with outdoor storage on a 2‑acre fenced lot; Zoned I‑2 (heavy industrial); Available for lease starting August 1, 2026
    (859) 806-1591
    We can help!
    Listing Contact
    Travis Rose, MBA
    Learn More
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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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