1040-1050 Eastland Dr Lexington, KY 40505
For Sale
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This exceptional industrial property, located at 1040-1050 Eastland Drive in Lexington, Kentucky, offers 31,000 square feet of space on a 1.3-acre lot. The property consists of three single-story buildings, zoned I-1 for Light Industrial use, and is currently available for immediate occupancy. The buildings feature a total of 4,200 square feet of office space, divided between two suites (2,700 SF in Suite 1040 and 1,500 SF in Suite 1050). The warehouse space is fully sprinklered with a wet system and benefits from 1200 amp service. A significant upgrade was completed in 2021 with the installation of a new Carlisle roof system, carrying a 15-year warranty. The property enjoys a convenient location with excellent access to New Circle Road, major interstates, and downtown Lexington, making it particularly attractive for contractors and businesses needing easy access to transportation networks. The layout is easily divisible, presenting an opportunity for multiple tenants. The property's location in Fayette County, Kentucky, zip code 40505, offers a strategic advantage within a tight market with limited availability of I-1 Light Industrial space. The annual lease rate is $7.00 per square foot, NNN. Eastland Drive boasts a daily traffic count of 5,169 vehicles. This property represents a rare opportunity to secure a well-maintained, versatile industrial space in a prime Lexington location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
I-1 · Lexington, KYLexington. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.