Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1109-1113 Commercial Dr Lexington, KY 40505
    Back to Search
    Property profile & analytics

    1109-1113 Commercial Dr, Lexington, KY 40505

    View on Map
    • Warehouses
    • 10,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1109-1113 Commercial Dr

    Year built
    1969
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 10,000-square-foot industrial flex space in Lexington, KY, presents a unique investment opportunity. Located at 1109-1113 Commercial Drive, this single-story building, constructed in 1969 and renovated in 2021, sits on a 0.32-acre lot and is zoned B-4. The property features two 2,500-square-foot suites, each divisible to a minimum of 2,500 square feet and combinable for a maximum contiguous space of 5,000 square feet. Currently, 5,000 square feet is available for lease. Each suite boasts approximately 1,000 square feet of office space, including two restrooms, and 1,500 square feet of warehouse space. Warehouse features include 14-foot clear ceilings, suspended gas heat, and one drive-in door per unit. The building offers a total of four drive-in doors. Its prime location in Lexington's Northeast corridor, just inside New Circle Road and 2.4 miles from I-75/I-64, provides unparalleled access to major transportation arteries, placing it within a 24-hour drive of 70% of the US population. The Fayette County property (APN 10482850) offers a blend of modern amenities and convenient access, making it ideal for a variety of industrial and distribution businesses. This is a rare opportunity to acquire a well-maintained, strategically located industrial property in a thriving Kentucky market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4592
    Latitude
    38.0464

    Comparable in this City

    • Value Estimation by Request
      3,840 SF

      636 7th St

      DISTRIBUTION WAREHOUSE
      636 7th St, Lexington, KY 40505-3717
      View Details
    • Value Estimation
      $1,250,000
      10,920 SF

      1174 Industry Rd, Unit 1180

      DISTRIBUTION WAREHOUSE
      1174 Industry Rd, Lexington, KY 40505-3812
      View Details
    • Value Estimation
      $1,650,000
      12,000 SF

      980 Floyd Dr

      DISTRIBUTION WAREHOUSE
      980 Floyd Dr, Lexington, KY 40505-3660
      View Details
    • Value Estimation
      $2,025,000
      18,078 SF

      115 Zesta Pl

      DISTRIBUTION WAREHOUSE
      115 Zesta Pl, Lexington, KY 40505-3732
      View Details
    • Value Estimation
      $7,780,000
      107,900 SF

      1312 Russell Cave Rd

      DISTRIBUTION WAREHOUSE
      1312 Russell Cave Rd, Lexington, KY 40505-3114
      View Details
    • Value Estimation
      $1,375,000
      11,200 SF

      857 Floyd Dr

      DISTRIBUTION WAREHOUSE
      857 Floyd Dr, Lexington, KY 40505-3615
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class A Industrial Distribution Warehouse

      Turnkey Class A industrial facility offers 23' clear height and extensive dock capacity for manufacturers, distributors, and 3PLs.
      2155 Young Dr, Lexington, KY 40505
      View Details
    • $4,500,000

      Lexington Industrial Facility on 6 Acres

      Strategically located 105,804 SF industrial facility on 5.957 acres.
      510 Henry Clay Blvd, Lexington, KY 40505
      View Details
    • Contact for pricing

      Versatile Office and Warehouse Facility

      21,285 SF Lexington office/warehouse with renovated offices and climate control.
      330 Midland Pl, Lexington, KY 40505
      View Details
    • Contact for pricing

      Renovated Office and Warehouse Facility

      21,285 SF Lexington office and warehouse sublease opportunity.
      330 Midland Pl, Lexington, KY 40505
      View Details
    • Contact for pricing

      Lexington Industrial Facility For Sale

      27,940 SF industrial facility with flexible layout in Lexington, KY.
      1115 Delaware Ave, Lexington, KY 40505
      View Details
    • Contact for pricing

      Mixed-Use Development on 19.71 Acres

      Five-building mixed-use development with office, retail, flex, and warehouse space.
      1300 New Circle Rd, Lexington, KY 40505
      View Details

    Similar Nearby for Lease

    • New
      $30 SF/Yr
      2,560 SF

      Luxury Garage Condos For Rent

      Exclusive, secure garage condos designed for work, play, and storage.
      1535 Delaware Ave, Lexington, KY 40505
      View Details
    • $8 SF/Yr
      17,579 SF

      Versatile Flex Space on Winchester Road

      17,579 SF flex space near downtown Lexington.
      800 Winchester Rd, Lexington, KY 40505
      View Details
    • Contact for pricing

      Lexington Flex Building For Lease

      Commercial/flex building with warehouse, office, and showroom space.
      2001 Family Cir, Lexington, KY 40505
      View Details
    • $8 SF/Yr
      2,500 SF

      Lexington Industrial Flex Space Available

      Industrial flex space with office and warehouse components for lease.
      1113 Commercial Dr, Lexington, KY 40505
      View Details
    • Contact for pricing

      Industrial Flex Space For Rent

      Industrial flex space featuring office and warehouse components.
      1109-1113 Commercial Dr, Lexington, KY 40505
      View Details
    • $15 SF/Yr
      5,318 SF

      Retail Units on Winchester Road

      Three retail units available on Winchester Road in Lexington.
      1104 Winchester Rd, Lexington, KY 40505
      View Details
    Request Owner's contact information
    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.
    1109-1113 Commercial Dr
    Lexington, KY 40505
    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
    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

    Thank You for Inquiry
    1109-1113 Commercial Dr, Lexington, KY, 40505
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!