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    4071 Tates Creek Centre Dr Lexington, KY 40517

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    For Lease
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    Lexington KY Office Space, 3 Suites Available

    Lot size:
    30,535 SF

    Property Features for 4071 Tates Creek Centre Dr

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,535 SF
    Class
    A
    Total Rate
    50255.52

    Building Details

    Year Built/Renovated
    1989/2017
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 4071 Tates Creek Centre Dr, Lexington, KY 40517 Contact us
    Unit Suite 100

    $20 /Mo

    Size
    3,731 SF
    Contact us
    Unit Suite 101

    $20 /Mo

    Size
    2,072 SF
    Contact us
    Unit Suite 202

    $19 /Mo

    Size
    3,622 SF
    Contact us

    We can help!

    Listing Contact
    Peter Barr
    Peter Barr

    Listing Agency: Block + Lot Real Estate Listing Agent: Peter Barr

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

    Learn more

    Property Insight Report

    Overview

    The Tates Creek Office Centre, a Class A office building in Lexington, KY, offers 30,535 rentable square feet across three stories. Built in 1989 and extensively renovated in 2017, this property boasts a modern aesthetic with high-quality construction featuring steel, concrete, and glass. Situated on 2.19 acres, it offers scenic creek views and convenient access via a walking bridge to ample parking (approximately 110 spaces, plus reciprocal parking). The building enjoys high visibility from major roadways (Wilson Downing Road and Tates Creek Road), with a combined traffic count of 29,733 ADT. Three suites are currently available, ranging from 431 to 3,731 square feet, ideal for executive or medical office use. Suite 100 (3,731 sq ft) is a turnkey medical space with nine exam rooms, while Suite 101 (2,072 sq ft) and Suite 202 (3,622 sq ft) also offer fully renovated medical build-outs with multiple exam rooms and offices. The property's convenient south Lexington location provides easy access to major thoroughfares like New Circle Road and Man O' War Boulevard, and is near numerous businesses including Kroger, Baptist Health, and several banks. The zoning is P-1, and the property features one passenger elevator. The minimum divisible space is 431 square feet, with a maximum contiguous space of 3,731 square feet. The building's address is 4071 Tates Creek Centre Dr, Lexington, KY 40517. The APN is 10033740.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tates Creek Dental Dental Office Kochis Orthodontics Dental Office Edward Jones - Financial ... Financial Advisor James M. Francis ... Law Firm Leslie Jr Louis ... Dental Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -84.4996455
    Latitude
    37.9736959

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    FAQs

    What type of property is this?
    Medical Office Space - Lexington KY Office Space, 3 Suites Available
    Where is this medical office space located?
    The property is located at 4071 Tates Creek Centre Dr Lexington, KY.
    What is the lease rate?
    The lease rate is $19-$20 SF/Yr.
    What are key features of this property?
    This property features: Class A, 30,535 RSF office building in Lexington, KY, offering three suites ranging from 431 to 3,731 RSF.; Recently renovated (2017) with modern aesthetics, situated on 2.19 acres with 110+ parking spaces and creek views.; High visibility location with 29,733 ADT on major roadways, offering excellent signage opportunities.
    (859) 351-7924 Call to check price and availability
    Request Owner's contact information
    4071 Tates Creek Centre Dr Lexington, KY 40517
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    Lexington, KY 40517
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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
    4071 Tates Creek Centre Dr Lexington, KY 40517
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    Contact for Pricing
    Please call us for current price
    and status of this listing Peter Barr
    Peter Barr
    Real Estate License ID: 208972
    (859) 351-7924 (859) 309-0099
    Learn more
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