Office Condo with Established
80 Codell Drive Ste 250, Lexington, KY 40509
For Sale
$220,000
Office condo offered with an operating photography business, along with existing furniture and equipment.
Property Size955 SF
Price / SF$230.37
Days on Market54
Property Features for 80 Codell Drive Ste 250
General Information
Standard status
Size
Additional Details
Furnished
Business Included
Building Details
Year Built
Listing Agency:
Herald Real Estate
Listed By:
Sophia A Herald
(859) 248-5626
Source:
Sellkentucky
Added: Sep 18
Changed: Oct 25
Last Checked: Nov 10 at 10:56AM
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 Herald Real Estate
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Investment Insights
Based on property information with market context.
This 955-square-foot office condo at 80 Codell Drive, Suite 250, provides a commercial workspace associated with Lexington Fetal Photography. The offering includes the ongoing business, furniture, and equipment, supporting continuity for the existing operation.
Constructed in 2004, the property is located in Lexington, Kentucky, at the listed Codell Drive address. The business has operated for 20 years, providing an established use within the office condominium.
Constructed in 2004, the property is located in Lexington, Kentucky, at the listed Codell Drive address. The business has operated for 20 years, providing an established use within the office condominium.
Key Highlights
- 955‑square‑foot office condo
- Ongoing Lexington Fetal Photography business
- Business has operated for 20 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,920
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,400
$238.4K
Cap Rate 7%
$170,286
$170.3K
Cap Rate 9%
$132,444
$132.4K
Market Conditions
NOI Build-Up for 955 SF
Gross rent
$18.3K $19.20/SF
− Vacancy
−$2.4K −$2.56/SF
EGI
$15.9K $16.64/SF
− OpEx
−$4.0K −$4.16/SF
NOI
$11.9K $12.48/SF
Area
ZIP 40509
Vacancy
13.32%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,400
Cap Rate 7%
$170,286
Cap Rate 9%
$132,444
Alternative Uses
Best Use
Office B
$170.3K
$149.0K – $198.7K
NOI $11,920 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.0K
$174.1K – $232.1K
NOI $13,928 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 40509, KY
44,572
Population
19,802
Households
2.3
Avg Household Size
36
Median Age
57%
College-Educated
95%
High-School Grad
47.8 sq mi
ZIP Area
932
Density / Sq Mi
$89,429
Median Household Income
$52,489
Median Earnings
$1,317
Median Rent
$338,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Lexington, KY
Properties on Market for Office Units in Lexington
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office condo offered with an operating photography business, along with existing furniture and equipment.
Where is this office unit located?
The property is located at 80 Codell Drive Ste 250 Lexington, KY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 955‑square‑foot office condo; Ongoing Lexington Fetal Photography business; Business has operated for 20 years
