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    3320 Partner Pl Lexington, KY 40503

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    For Lease
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    Prime Lexington Office & Retail Center

    Lot size:
    104,974 SF

    Property Features for 3320 Partner Pl

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    104,974 SF
    Total Rate
    87478.33

    Building Details

    Stories
    2

    Spaces For Lease

    at 3320 Partner Pl, Lexington, KY 40503 Contact us
    Unit Suite 120

    $18 /Mo

    Size
    1,177 SF
    Contact us
    Unit Suite 12/13

    $10 /Mo

    Size
    3,552 SF
    Contact us
    Unit Suite 109/117

    $15 /Mo

    Size
    2,929 SF
    Contact us
    Unit Suite 156

    $14 /Mo

    Size
    2,400 SF
    Contact us
    Unit Space 124/126

    $12 /Mo

    Size
    4,050 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Al Isaac
    Al Isaac

    Listing Agent: Al Isaac

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Discover Keithshire Place, a prominent 104,974-square-foot retail and office center ideally situated in Southwest Lexington, Kentucky. This two-story building, located at 3320 Partner Pl, Lexington, KY 40503, offers multiple tenancy options with a minimum divisible space of 1,177 square feet. The property boasts over 300 parking spaces, three drive-in bays, and is zoned B-6P for Planned Shopping Center use. Its convenient location, approximately 1.5 miles from Man O' War Boulevard and easily accessible from Clays Mill Road via Keithshire Way, provides exceptional visibility and accessibility. The property benefits from its proximity to major retailers such as Meijer and Target, Fayette Mall, and the Blue Grass Airport, ensuring high traffic volume and strong residential support within a densely populated trade area. Keithshire Way's strategic connection between Reynolds Road and Clays Mill Road further enhances its accessibility. The 7.25-acre site (APN 27281236) offers a compelling opportunity for businesses seeking a well-established location with ample parking and convenient access to key amenities, including upscale residential communities, hotels, and financial institutions. The property is not equipped with elevators.
    Property Profile Location Intelligence

    Current Use by Public Records

    Keithshire Place Shopping ... Shopping Center & Mall Curves Gym & Fitness Center Subway Take-out & Catering Paul J. Frangedakis, ... Alternative Medicine Practice Needles & Pins Alterations (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5461347
    Latitude
    37.9954521

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    FAQs

    What type of property is this?
    Neighborhood center - Prime Lexington Office & Retail Center
    Where is this neighborhood center located?
    The property is located at 3320 Partner Pl Lexington, KY.
    What is the lease rate?
    The lease rate is $0.00-$18 SF/Yr.
    What are key features of this property?
    This property features: 104,974 SF retail/office center.; 1,177 - 4,050 SF of retail/office space available for lease.; Two outlots available for ground lease or build-to-suit.
    (859) 422-4400 Call to check price and availability
    Request Owner's contact information
    3320 Partner Pl Lexington, KY 40503
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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.

    More about this property
    3320 Partner Pl Lexington, KY 40503
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Al Isaac
    Al Isaac
    Real Estate License ID: #223721
    (859) 422-4400 (859) 221-4000
    Learn more
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