Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    305 kENTUCKY Avenue lot 305 Versailles, KY 40383

    View on Map
    Claim this Listing
    For Sale
    $922,000

    LAND - Versailles, KY

    Lot size:
    3.97 Acres
    Added:
    Aug 4, 2022
    Days on Market:
    1371
    Last Refresh:
    May 5 at 6:06 pm

    Property Features for 305 kENTUCKY Avenue lot 305

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    30-2003-005-02
    Lot size
    3.97 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Harold Steele

    Listing agent Harold Steele License #178144

    Listing office Haroldz, Inc. P. O. Box 434, Versailles, KY

    Listing date Aug 4, 2022

    MLS# 22017401 Listing URL

    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.

    Overview

    Versailles, KY Industrial Land

    This 3.967-acre lot is zoned I1, light industrial, accommodating various uses. The property's size allows for potential development into several lots. It is also large enough to accommodate 35 townhomes with an R3 zone change, or 69 units with an R4 zone change. The property is located in Versailles, KY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Versailles
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.739225
    Latitude
    38.05715

    Nearby Similar for Sale

    • $600,000
      8,448 SF

      Versailles Commercial Building with Apartments

      Commercial building with daycare and apartments in downtown Versailles, KY.
      380 Amsden Avenue, Versailles, KY 40383
      View Details
    • $990,000
      6,925 SF

      Versailles Multifamily Investment Opportunity

      Well-maintained 5-unit property near Bluegrass Parkway in Versailles, KY.
      502 Tecumseh Trail, Versailles, KY 40383
      View Details
    • $1,395,000
      8,452 SF

      Profitable Bed and Breakfast Venue

      Turn-key bed and breakfast and wedding venue on nine acres.
      1010 Steele Road, Versailles, KY 40383
      View Details
    • $280,000

      Versailles Land with Homestead Potential

      4 acres in Woodford County, ideal for a serene homestead.
      737 Fintville Road, Versailles, KY 40383
      View Details
    • $345,000

      Versailles, KY Building Lot

      Building lot near town, backs to golf course.
      250 McFall Lane, Versailles, KY 40383
      View Details
    • $350,000

      Versailles, KY Commercial Land

      Commercial land with frontage on US 60/Lexington Road.
      120 AP Indy Lane, Versailles, KY 40383
      View Details
    • $99,000

      Riverfront Lot with Build Potential

      Half-acre riverfront property with build potential in Versailles, KY.
      315 Lower Clifton Road, Versailles, KY 40383
      View Details
    • $12
      70,000 SF

      Versailles Shopping Center For Sale

      70,000 SF shopping center with strong tenant mix.
      480 Lexington Road, Versailles, KY 40383
      View Details
    • $685,000

      Downtown Versailles Commercial Space

      Prime commercial space with apartment in growing Versailles community.
      192 S Main Street, Versailles, KY 40383
      View Details
    • Contact for pricing

      Versailles Agricultural Land for Development

      75.98 acres in Versailles, Kentucky, ideal for development.
      1740 Troy Pike, Versailles, KY 40383
      View Details
    • $595,000
      1,812 SF

      High-Traffic Retail Investment Opportunity

      Single-tenant Giovanni’s Pizza with drive-through in thriving retail corridor.
      508 Lexington Road, Versailles, KY 40383
      View Details
    • $800,000

      Versailles Homestead with Two Homes

      49.7-acre homestead with two homes, outbuildings, and peaceful setting.
      3890 Oregon Road, Versailles, KY 40383
      View Details

    FAQs

    What type of property is this?
    Commercial land - Large lot with road frontage, suitable for various development projects.
    Where is this commercial land located?
    The property is located at 305 kENTUCKY Avenue lot 305 Versailles, KY.
    What is the asking price?
    The asking price for this property is $922,000.
    What are key features of this property?
    This property features: Huge lot size suitable for development.; Zoned I1 (light industrial) allowing for diverse uses.; Potential for 35 townhomes with R3 zone change.
    (859) 338-8712
    We can help!
    Listing Contact
    Harold Steele
    Real Estate License ID: 178144
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    305 kENTUCKY Avenue lot: 305, Versailles, KY 40383
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!