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    105 E St Richmond, KY 40475

    Sponsored
    For Sale
    $875,000

    COMMERCIAL - Richmond, KY

    Property size:
    5,100 SF
    Lot size:
    0.25 Acres
    Days on Market:
    47
    Last Refresh:
    Jan 28 at 12:06 pm

    Property Features for 105 E St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B-2
    APN
    R0009-0022-0014
    Size
    5,100 SF
    Lot size
    0.25 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Building materials
    Brick, Stone
    Roof type
    Metal

    We can help!

    Listing Contact
    Delma Peercy

    Realtors of Kentucky (859) 661-5117

    Listing agent Delma Peercy (859) 661-5117

    Listing date Dec 13, 2025

    MLS# 25507312

    Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Property with Loft Living

    This mixed-use property, located in downtown Richmond, KY, features a converted and redesigned warehouse with a variety of income-producing spaces. The second floor contains an upscale loft residence of approximately 2300 square feet, featuring a great room, kitchen and dining area, two bedrooms, two bathrooms, and a screened-in private porch. The ground level includes a private courtyard with stamped concrete, sun screen, and a firepit, plus a stylish entrance and mudroom with a custom stairway and dog washing station. The first floor houses five rented offices that share a conference room, kitchenette, full bath, washer/dryer, and waiting area. A second building includes an 1100 square foot apartment above a four-car garage, featuring two bedrooms, two full baths, a deck, and an outside entrance. City gas is connected for gas lighting, a gas cooking range, and a small gas backup stove. Central heat and air units provide the main source of climate control. The seller currently collects $3300 a month in rent. The seller also rents blacktop parking lot spaces and a storage building across the street for $200 a month. The new buyers will have the option to lease both loft homes for additional rental income. The property is zoned B-2 and situated on a 0.25-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Studio 606 Therapeutic ... Massage Therapist Beautiful You Are, ... Wellness Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.288964
    Latitude
    37.745723

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    FAQs

    What type of property is this?
    Mixed-use property - Income-producing mixed-use property with upscale loft, offices, and apartment.
    Where is this mixed-use property located?
    The property is located at 105 E St Richmond, KY.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Income-producing property with $3300/month rental income and potential for more.; - **Upscale 2300 sq ft loft features 2 bedrooms, 2 baths, and a private screened-in porch.**; - Additional 1100 sq ft apartment above the 4-car garage.
    (859) 661-5117
    Request Owner's contact information
    105 E St Richmond, KY 40475
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    Richmond, KY 40475
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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.

    More about this property
    105 E St Richmond, KY 40475
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    We can help!
    Listing Contact
    Delma Peercy
    Real Estate License ID: 192717
    (859) 661-5117
    Learn more
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