Commercial Real Estate Market in Lexington, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
691 active listings and 7,650 off-market properties in Lexington, KY. Commercial property asks $188/SF to buy and $18.00/SF/Yr to lease.
Market Trends
Lexington, KY spans 301.2 square miles in Fayette County, Kentucky. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Lexington, KY asks $21.88/SF/Yr to lease; the median asking sale price is $211/SF. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Lexington, KY asks $72.47/SF/Yr to lease; the median asking sale price is $217/SF. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial space in Lexington, KY asks $12.50/SF/Yr to lease; the median asking sale price is $127/SF (based on 8 listings). Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily space in Lexington, KY has a median asking sale price of $170/SF. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 72.3%
- Residential 20.1%
- Commercial 3.4%
- Industrial 3.3%
- Civic 0.4%
- Mixed use 0.1%
- Planned_development 0.1%
- Open space 0%
Largest Zones share of zoned land by district
A-R) Zone, Agricultural Natural Area (A-N) Zone, or Agricultural Buffer (A-B) Zone, notice shall be given to the next two (2) properties or one (1) mile, whichever is greater, in the direction of the Agricultural-Rural (A-R) Zone Agricultural Natural Area (A-N) Zone, or Agricultural Buffer (A-B) Zone. Where the subject property adjoins an Agricultural-Urban…
Market overview
Demographics & Economy
Lexington, KY has 323,443 residents in 148,080 households. Density runs 1,074 people per square mile. Median household income here is $70,856 and median gross rent $1,133 a month.
Tools
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Nicholasville | $140 | $12.00 |
| Versailles | $228 | $14.00 |
| Georgetown | $247 | $20.00 |
| Midway | $375 | — |
Commercial property in Lexington, KY asks $188/SF. The 4 bordering markets run from $140/SF in Nicholasville to $375/SF in Midway, and the city sits below their $238/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Lexington?
How much does it cost to lease commercial space in Lexington?
How does Lexington compare to nearby markets on price?
Where does Realmo's Lexington market data come from?
Methodology & data sources
- Asking prices and medians
- There are 213 active for-sale and 478 active for-lease listings in Lexington, KY. The medians are based on 119 of the for-sale and 354 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 183,062 zoned acres across 40 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
