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Property profile & analytics
OFF-MARKET
Industrial properties

1585 Mercer Rd Lexington, KY 40511-1261

0.99 ac lot Built 2020
Individually Owned 1-yr Hold Free & Clear
Property ID
US34-0508171
Property summary
AI-generated overview

This exceptional 3,500-square-foot flex space, located at 1585 Mercer Road, Suite 130, Lexington, KY 40511, presents a unique opportunity within a thriving industrial market. Part of a larger 13,135-square-foot building constructed in 2020 and renovated in 2021, this single-story unit offers a blend of modern office and warehouse space ideal for various businesses. The space boasts 2,250 square feet of contemporary office area featuring two private offices, a spacious open workspace, a convenient kitchenette, high ceilings, two restrooms, and polished concrete floors. Abundant natural light floods the office thanks to a large glass storefront. The 1,250-square-foot warehouse component includes a 14-foot drive-in door and impressive 19- to 21-foot clear ceiling height, providing ample room for storage and operations. Situated on a 0.99-acre lot, the property is zoned I-1 and benefits from its location less than a mile from New Circle Road via Georgetown Road, ensuring easy access to major transportation routes. The building features a total of 13,135 square feet, with a minimum divisible space of 3,500 square feet. This property is perfect for businesses seeking a high-quality, well-maintained space in a prime Lexington location. The APN is 38018320.

Property profile
Verified
Property type Industrial properties
Use group MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built 2020
Lot 0.99 ac (43,124 SF)
Zoning code I-1
APN 38018320
UPID US34-0508171
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • May Demolition Construction Company General Contractor
  • Mefford Contracting Construction Company General Contractor
  • Joseph Mefford Physician
  • Rapid Fire Home Buyers Property Investment Company
  • Handyman Connection of Lexington Hardware & Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Paul Louna · 1 yrs held
Paul Louna
since 2025
Last sale
$295,000
6 recorded transactions
2025
$295,000
2024
$1.7M
2022
Price N/A
2019
$205,000
2017
$149,600
2008
Price N/A
Zoning & alternative use
I-1 · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

I-1 or I-2 zone. Home occupation means a gainful occupation or profession carried on in a residence that does not involve customer or client visits to the residence (excluding pick-up or pre-ordered items or drop-off of items to be repaired); and materials or equipment used in the conduct of the home occupation is limited to items that have minimal potential…

Zone name Light Industrial
General category INDUSTRIAL
Zone area 4,436.91 ac
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