Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    824 Bull Lea Run Lexington, KY 40511

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Lexington, KY: Prime Office & Lab Space

    Lot size:
    44,533 SF

    Property Features for 824 Bull Lea Run

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    44,533 SF
    Class
    A
    Total Rate
    115043.58

    Building Details

    Year Built
    2022
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 824 Bull Lea Run, Lexington, KY 40511 Contact us
    Unit Available Space 3

    $31 /Mo

    Size
    7,997 SF
    Contact us
    Unit Available Space 2

    $31 /Mo

    Size
    2,454 SF
    Contact us
    Unit Available Space 1

    $31 /Mo

    Size
    12,877 SF
    Contact us

    We can help!

    Listing Contact
    Christa Collins
    Christa Collins

    Listing Agency: The Gibson Company Listing Agent: Christa Collins

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

    Learn more

    Property Insight Report

    Overview

    This exceptional Class A office property, located at 824 Bull Lea Run in Lexington, Kentucky (40511), offers 23,000 square feet of immediately available space within a larger 44,533 square foot building. Built in 2022, this two-story building features modern amenities including elevators and a shared, attractive common area lobby. The space is divisible to a minimum of 2,450 square feet, allowing for flexibility to accommodate various business needs. The property is zoned P-2 and situated in Fayette County, offering convenient access to major thoroughfares including I-75, I-64, New Circle Road, and Lexington's airport. The building boasts a 7' x 10' overhead door for convenient deliveries, ideal for businesses requiring such access. The available space can be configured as shell condition lab or office space, adaptable to tenant specifications. This location is perfect for businesses seeking a modern, high-tech environment, and is already home to a variety of innovative research and office tenants. The asking rate is $31 per square foot annually, gross, with tenant improvement allowances negotiable for leases exceeding five years. Tenants are responsible for janitorial services within their leased space. This property presents a unique opportunity to establish a presence in a thriving research and business community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bluegrass AgTech Agricultural Organization Roberts CPA Group Accounting Firm Export Assistance Center Federal Government Office CoRE Building Real Estate Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4912859
    Latitude
    38.0915791

    Nearby Similar for Lease

    • $950 /Mo
      84 SF

      Office Suites in Chevy Chase

      Upscale office building with amenities in the heart of Chevy Chase.
      804 Chevy Chase Pl, Lexington, KY 40502
      View Details
    • New
      $575 /Mo
      65 SF

      Lexington Office Space For Lease

      Individual offices for lease in Lexington's Lewis Hargett Business Center.
      444 Lewis Hargett Cir, Lexington, KY 40503
      View Details
    • New
      $14 SF/Yr
      3,750 SF

      Adaptable Office/Lab Space Available

      Versatile office/lab space for lease in Lexington, Kentucky.
      1509 Bull Lea Rd, Lexington, KY 40511
      View Details
    • $15 SF/Yr
      4,194 SF

      Lexington Office Space For Rent

      Spacious office space in Lexington's thriving business corridor.
      860 Corporate Dr, Lexington, KY 40503
      View Details
    • $21 SF/Yr
      4,902 SF

      Class A Office Building

      Renovated office space for lease in Lexington, KY.
      2312 Alexandria Dr, Lexington, KY 40504
      View Details
    • $40 SF/Yr
      221 SF

      Downtown Lexington Redevelopment Opportunity

      Mixed-use space for retail, restaurant, and office in Lexington.
      325 W Main St, Lexington, KY 40507
      View Details
    • $40 SF/Yr
      260 SF

      Downtown Lexington Redevelopment Opportunity

      Mixed-use space in downtown Lexington with retail, office, and restaurant.
      325 W Main St, Lexington, KY 40507
      View Details
    • $40 SF/Yr
      156 SF

      Downtown Lexington Redevelopment Opportunity

      Prime commercial space in downtown Lexington's newest redevelopment.
      325 W Main St, Lexington, KY 40507
      View Details
    • $40 SF/Yr
      272 SF

      Downtown Lexington Redevelopment Opportunity

      New retail and office spaces in downtown Lexington.
      325 W Main St, Lexington, KY 40507
      View Details
    • $40 SF/Yr
      215 SF

      Downtown Lexington Redevelopment Opportunity

      Prime retail and office spaces in downtown Lexington.
      325 W Main St, Lexington, KY 40507
      View Details
    • $40 SF/Yr
      286 SF

      Downtown Lexington Redevelopment Opportunity

      New retail, restaurant, and office spaces in downtown Lexington.
      325 W Main St, Lexington, KY 40507
      View Details
    • $25 SF/Yr
      1,188 SF

      Downtown Lexington Redevelopment Opportunity

      Retail, restaurant, and office spaces available in downtown Lexington.
      325 W Main St, Lexington, KY 40507
      View Details

    FAQs

    What type of property is this?
    Medical office - Lexington, KY: Prime Office & Lab Space
    Where is this medical office located?
    The property is located at 824 Bull Lea Run Lexington, KY.
    What is the lease rate?
    The lease rate is $31 SF/Yr.
    What are key features of this property?
    This property features: New, Class A, high-tech office building (2022 construction).; Prime location in Coldstream Research Park.; 44,533-square-foot, two-story building with elevator.
    (859) 321-3552 Call to check price and availability
    Request Owner's contact information
    824 Bull Lea Run Lexington, KY 40511
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    824 Bull Lea Run
    Lexington, KY 40511
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    824 Bull Lea Run Lexington, KY 40511
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Christa Collins
    Christa Collins
    Real Estate License ID: 239962
    (859) 321-3552 (859) 224-8833
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!