Second-Floor Office
80 Codell Drive Lexington, KY 40509
New
80 Codell Drive, Lexington, KY, 40509
$250,000
For Sale
$250,000
COMMERCIAL - Lexington, KY
Property Size955 SF
Price / SF$261.78
Days on Market1
Property Features for 80 Codell Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 38132100
- Size
- 955 SF
Building Details
- Year built
- 2004
Listing Agency
Keller Williams Commonwealth
(859) 721-2121
1908 Bryant Rd Suite 250, Lexington, KY
Listed by
Destiny Darby · License #209568
(859) 913-0122
Added: Jul 17 Checked: Jul 17 at 7:06 pm
MLS# 26018850
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is for a second-floor office condo within a commercial property at 80 Codell Drive in Lexington, KY. The space is currently operating as Lexington Fetal Photography, and the listing is specifically for the office condo only. A separate listing is available to purchase the full business.
The property is located in Fayette County, KY (40509). It is presented as an owned office workspace rather than a leased arrangement, with the seller indicating that seller financing is available.
The available suite totals 955 square feet and is configured as an office space suitable for an established, office-based use.
The property is located in Fayette County, KY (40509). It is presented as an owned office workspace rather than a leased arrangement, with the seller indicating that seller financing is available.
The available suite totals 955 square feet and is configured as an office space suitable for an established, office-based use.
Key Highlights
- Second‑floor office condo built in 2004
- Currently leased/used as Lexington Fetal Photography
- Seller financing available
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.3k | $19.20 |
| − Vacancy | −$2.4k | −$2.56 |
| EGI | $15.9k | $16.64 |
| − OpEx | −$4.0k | −$4.16 |
| NOI | $11.9k | $12.48 |
955 SF · lease $19.20/SF/yr · vacancy 13.32% · expense 25.00%
Alternative Uses
Best Use
Office B
$170.3K
$149.0K – $198.7K
NOI $11,920 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.0K
$174.1K – $232.1K
NOI $13,928 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lexington Fetal Photography
Photography Service
Nathan Miles, PhD
Physician
Andrew Wade - State ...
Insurance Agency
Strong Insurance Agency, ...
Insurance Agency
Hendricks Real Estate ...
Real Estate Agency
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FAQs
What type of property is this?
Office units - Second-floor office condo offered for sale in Lexington, KY, currently used by a photography business.
Where is this office units located?
The property is located at 80 Codell Drive Lexington, KY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Second‑floor office condo built in 2004; Currently leased/used as Lexington Fetal Photography; Seller financing available
