Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1090 Lancaster Rd Richmond, KY 40475

    Sponsored
    For Lease
    $14 SF/Yr ($13,584 /Mo)

    COMMERCIAL - Richmond, KY

    Property size:
    11,644 SF
    Lot size:
    0.87 Acres
    Days on Market:
    134
    Last Refresh:
    Jan 23 at 12:06 am

    Property Features for 1090 Lancaster Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    R003-0003-0011-A
    Size
    11,644 SF
    Lot size
    0.87 Acres

    Building Details

    Year built
    1996

    We can help!

    Listing Contact
    Kevin Verhoven

    The Gibson Company 2248833

    Listing agent Kevin Verhoven (859) 224-8833

    Listing date Sep 12, 2025

    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

    Versatile Commercial Building in Richmond, KY

    Located at 1090 Lancaster Road in Richmond, Kentucky, this commercial building offers approximately 11,644 square feet of space. The property is situated on approximately 0.866 acres and is zoned B-3 (Highway Business), making it suitable for retail, medical, institutional, or professional office use. Originally constructed in 1996 and remodeled in 2012, the building features an open floor plan with high ceilings and abundant natural light. The property has a metal exterior and includes 36 surface parking spaces. The location provides exposure along a high-traffic corridor, near Eastern Kentucky University and minutes from I-75. The area benefits from a strong daytime population and student foot traffic. Nearby businesses include regional retailers, healthcare providers, restaurants, and university facilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.307066
    Latitude
    37.733121

    Nearby Similar for Lease

    • New
      $2,700 /Mo
      Pending

      Richmond Commercial Property For Rent

      Commercial property in Richmond, KY with recent updates and ample space.
      454 Big Hill Ave, Richmond, KY 40475
      View Details
    • New
      $11 SF/Yr
      1,946 SF

      Richmond Flex Space with Drive-in

      Flex/industrial facility with office and warehouse space for lease.
      6013 Atwood Dr, Richmond, KY 40475
      View Details
    • $1,750 /Mo
      1,600 SF

      Richmond Office Space For Lease

      Professional office space available for lease in Richmond, Kentucky.
      1001 Gibson Bay Dr, Richmond, KY 40475
      View Details
    • $1,000 /Mo
      1,400 SF

      Richmond, KY Office Space

      Office space available for rent in Richmond, Kentucky.
      944 Red House Rd, Richmond, KY 40475
      View Details
    • $1,500 /Mo
      1,500 SF

      Versatile Office Space For Rent

      Office spaces with high visibility in established commercial center.
      2150 Lexington Rd, Richmond, KY 40475
      View Details
    • $4,750 /Mo
      5,600 SF

      Richmond Commercial Space I-75 Frontage

      Versatile commercial space with I-75 frontage in Richmond, Kentucky.
      2827 Lexington Rd, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      1,787 SF

      Richmond Office Space For Lease

      Office spaces with private restrooms, flexible floor plan, secured parking.
      309 Spangler Dr, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      2,826 SF

      Richmond Office Space For Rent

      Office spaces with private restrooms, break rooms, and conference rooms.
      311 Spangler Dr, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      1,570 SF

      Richmond, KY Office Space

      Office spaces with private restrooms, break rooms, and conference rooms.
      311 Spangler Dr, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      1,570 SF

      Richmond, KY Office Space

      Office spaces with private restrooms, break rooms, and conference rooms.
      311 Spangler Dr, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      1,491 SF

      Richmond Office Space For Rent

      Office spaces with private restrooms, break rooms, and conference rooms.
      309 Spangler Dr, Richmond, KY 40475
      View Details
    • New
      $900 /Mo
      800 SF

      Richmond Office Space For Rent

      Office space available for lease in Richmond, Kentucky.
      120 N 2Nd St, Richmond, KY 40475
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail/commercial space with high visibility and accessibility in Richmond.
    Where is this retail space located?
    The property is located at 1090 Lancaster Rd Richmond, KY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Prime location on Lancaster Road with high visibility and traffic, near Eastern Kentucky University and I-75.; - +/-11,644 SF of versatile space suitable for retail, medical, institutional, or professional office use.; - Zoned B-3 (Highway Business), offering a wide range of permitted uses.
    (859) 224-8833
    Request Owner's contact information
    1090 Lancaster Rd Richmond, KY 40475
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1090 Lancaster Rd
    Richmond, KY 40475
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1090 Lancaster Rd Richmond, KY 40475
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kevin Verhoven
    Real Estate License ID: KY 58263
    (859) 224-8833
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.