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    Kevin Verhoven, Lexington, KY

    License ID: 58263
    Gibson Company
    Association
    Lexington-Bluegrass Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (859) 224-8833
    Office Address:
    1050 Monarch St Suite 200, Lexington, KY, 40513

    Performance

    Listings
    18

    Listings

    For Sale (11)

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    • $1,650,000
      7,060 SF

      Lexington Commercial Property for Sale

      Commercial property in Lexington, KY, featuring 7,060 square feet.
      395 Elaine Dr, Lexington, KY 40504
      View Details
    • $3,100,000
      22,536 SF

      Well-Maintained Office Building in Lexington

      Three-story office building in Beaumont Centre with stable income.
      1020 Monarch St, Lexington, KY 40513
      View Details
    • $625,000
      Pending

      Prime Commercial Parcel on Leestown

      3.37 acre commercial parcel for development in Frankfort, KY
      2 Leestown Rd, Frankfort, KY 40601
      View Details
    • $3,500,000
      9,450 SF

      Versailles Commercial Property For Sale

      9,450 SF unfinished commercial building in Versailles, Kentucky.
      1165 Crossfield Dr, Versailles, KY 40383
      View Details
    • $950,000
      8,040 SF

      Medical Office Building Near Hospital

      Medical office building with flexible layout and ample parking.
      4 Physicians Park, Frankfort, KY 40601
      View Details
    • $630,000
      9,750 SF

      Frankfort Flex Building Investment Opportunity

      9,750 SF flex building on 1.5 acres in Frankfort, KY.
      205 Locust Dr, Frankfort, KY 40601
      View Details
    • $1,325,000

      Winchester Rally's: Sale-Leaseback Opportunity

      High-traffic QSR, 10-year NNN lease.
      1478 Lexington Ave, Winchester, KY 40391
      View Details
    • $4,750,000
      52,416 SF

      Frankfort Executive Office Building

      Spacious Office, 52,416 SF, Ample Parking
      653 Chamberlin Ave, Frankfort, KY 40601
      View Details
    • $825,000
      7,200 SF

      Winchester Office Building - $825,000

      7,200 SF Executive Office, Vacant
      920 Bypass Rd, Winchester, KY 40391
      View Details
    • $1,820,000
      3.65 Acres

      Nicholasville Retail Land Investment

      Prime 3.65-acre retail lot in Brannon Crossing
      Lots 3C & 3D Brannon Rd, Nicholasville, KY 40356
      View Details
    • $350,000
      0.33 Acres

      Lexington Commercial Land: Pasadena Drive

      Prime .33-acre lot, B-1 zoning, high visibility.
      151 Pasadena Dr, Lexington, KY 40503
      View Details

    For Lease (7)

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    • $13 SF/Yr
      7,074 SF

      Functional Office Suite in Georgetown

      7,074 SF office suite with flexible layout for lease.
      100 Technology Ct, Georgetown, KY 40324
      View Details
    • $850 /Mo
      800 SF

      Lexington Office Suite For Lease

      800 SF office suite with utilities included near Fayette Mall.
      207 E Reynolds Rd, Lexington, KY 40517
      View Details
    • $12 SF/Yr
      3,750 SF

      Lexington Flex Warehouse Space

      Flex/warehouse space for lease in South Lexington.
      2514 Regency Rd, Lexington, KY 40503
      View Details
    • $18 SF/Yr
      22,872 SF

      Beaumont Centre Medical/Office Suite

      3,816 SF medical/office suite in Beaumont Centre area.
      3151 Beaumont Centre Cir, Lexington, KY 40513
      View Details
    • $18 SF/Yr
      7,632 SF

      Beaumont Centre Third Floor Office

      7,632 SF office space in Lexington's Beaumont Centre.
      1020 Monarch St, Lexington, KY 40513
      View Details
    • $14 SF/Yr
      11,644 SF

      Versatile Commercial Building in Richmond, KY

      Prime retail/commercial space with high visibility and accessibility in Richmond.
      1090 Lancaster Rd, Richmond, KY 40475
      View Details
    • $18 SF/Yr
      1,180 SF

      Lexington Retail Space - 1180 SF

      High-traffic retail space, ready for lease.
      395 Elaine Dr, Lexington, KY 40504
      View Details

    Leases and Sales on Map

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    Kevin Verhoven, Lexington, KY
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    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.

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    Kevin Verhoven, Lexington, KY
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