V1400 Centauri is a member of Upper Centaurus–Lupus subgroup of the Scorpius–Centaurus association, a group of young, comoving stars close to the Sun.

[4] The most recent parallax measurements by the Gaia spacecraft indicate V1400 Centauri is located 450.8 ± 0.9 light-years (138.2 ± 0.3 parsecs) from the Sun.

[3]: 5-6  Given V1400 Centauri's similar distance and proper motion, it very likely belongs to the Scorpius–Centaurus association, which would mean it must be a young star within the age range of the Upper Centaurus–Lupus subgroup.

[3]: 8  The rapid rotation of V1400 Centauri strengthens its magnetic field via the dynamo process, which leads to the formation of starspots on its surface.

[7]: 6  As V1400 Centauri rotates, its starspots come into and out of view, causing the star's brightness to periodically fluctuate by 5%, or about 0.1 magnitudes in amplitude.

[8]: 412 [2] Spectroscopic measurements of Doppler broadening in V1400 Centauri's spectral absorption lines indicate the star has a projected rotational velocity of 14.6±0.4 km/s.

During 7 April to 4 June 2007,[g] telescopes of the Super Wide Angle Search for Planets (SuperWASP) and All Sky Automated Survey (ASAS) projects recorded V1400 Centauri undergoing a series of significant dimming events for 56 days.

[7] The pattern of these dimming events was complex yet nearly symmetrical, indicating they were caused by an opaque, disk-like structure eclipsing the star.

V1400 Centauri's eclipse by J1407b was discovered on 3 December 2010 by Mark Pecaut,[3]: 5  who was a graduate student of Eric E. Mamajek at the University of Rochester.

[20] Mamajek's team initially hypothesized that J1407b is a ringed exoplanet or brown dwarf orbiting the star,[3]: 8  but that has since been disfavored by later studies.