Two-Story Office Building
For Sale
Contact for pricing
861 Corporate Drive, Lexington, KY 40503
Small office suites are available in a two-story office building within Corporate Center.
Property Size16,820 SF
Price / SF$0.01
Days on Market150
Property Features for 861 Corporate Drive
General Information
Standard status
Active
Size
16,820 SF
Property subtype
Office
Lease Type
Full Service
Lease Term
Full Service
Site & Location
Neighborhood
Indian Hills/Pera Place 3
Building Details
Building Size
16,820 SF
Stories
2
Listed By:
Jamie Adams, SIOR, CCIM · License #KY #216464
(859) 396-5468
Source:
Naiisaac
Added: Jun 1
Changed: Oct 25
Last Checked: Jul 22 at 12:33AM
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 Jamie Adams, SIOR, CCIM
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Investment Insights
Based on property information with market context.
This two-story office building offers small suite options within Corporate Center. Suite 120 is available for fit-up to suit the tenant’s needs, providing flexibility for an incoming office user.
The building is located in Corporate Center at the intersection of Harrodsburg and New Circle Roads, with convenient access to Blue Grass Airport and downtown Lexington. The surrounding area includes retail, hotel accommodations, financial institutions, and Keeneland Race Course.
The property is offered with a stated full-service rental rate of $19.75 per square foot.
The building is located in Corporate Center at the intersection of Harrodsburg and New Circle Roads, with convenient access to Blue Grass Airport and downtown Lexington. The surrounding area includes retail, hotel accommodations, financial institutions, and Keeneland Race Course.
The property is offered with a stated full-service rental rate of $19.75 per square foot.
Key Highlights
- +/-16,820 SF two‑story office building with small office space for lease in Corporate Center
- Suite 120 available; offered as fit‑up to suit the tenant’s needs
- Located in Corporate Center at the intersection of Harrodsburg Rd & New Circle Rd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,248
Suggested Prices Based on Cap Rates
Cap Rate 5%
$564,960
$565.0K
Cap Rate 7%
$403,543
$403.5K
Cap Rate 9%
$313,867
$313.9K
Market Conditions
NOI Build-Up for 2,130 SF
Gross rent
$43.5K $20.40/SF
− Vacancy
−$5.8K −$2.72/SF
EGI
$37.7K $17.68/SF
− OpEx
−$9.4K −$4.42/SF
NOI
$28.2K $13.26/SF
Area
ZIP 40503
Vacancy
13.32%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$564,960
Cap Rate 7%
$403,543
Cap Rate 9%
$313,867
Alternative Uses
Best Use
Office B
$403.5K
$353.1K – $470.8K
NOI $28,248 @ 7.0% cap · market cap 143,027.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.8K
$388.3K – $517.8K
NOI $31,065 @ 7.0% cap · market cap 157,291.14%
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
1,533
Businesses Nearby
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Business Placement
Demographics for 40503, KY
28,073
Population
13,437
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
3,190
Density / Sq Mi
$74,161
Median Household Income
$43,061
Median Earnings
$1,110
Median Rent
$280,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Small office suites are available in a two-story office building within Corporate Center.
Where is this office building located?
The property is located at 861 Corporate Drive Lexington, KY.
What are key features of this property?
This property features: +/-16,820 SF two‑story office building with small office space for lease in Corporate Center; Suite 120 available; offered as fit‑up to suit the tenant’s needs; Located in Corporate Center at the intersection of Harrodsburg Rd & New Circle Rd
