Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    310 Richmond Rd Berea, KY 40403

    Sponsored
    For Sale
    $950,000

    COMMERCIAL - Berea, KY

    Type:Retail
    Property size:
    11,923 SF
    Lot size:
    0.80 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 28 at 6:06 am

    Property Features for 310 Richmond Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Active
    APN
    B008-0013-0001-A
    Size
    11,923 SF
    Lot size
    0.80 Acres

    Building Details

    Year built
    1990
    Floors in Building
    1

    We can help!

    Listing Contact
    Adam Boardman
    Adam Boardman

    Block + Lot Real Estate 3090099

    Listing agent Adam Boardman (859) 309-0099

    Listing date Jan 27, 2026

    MLS# 24001801

    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

    Prime Retail Space in Berea

    This retail shell space in Berea, KY, offers immediate occupancy and a customizable interior for businesses. The property is situated in a high-traffic location near numerous retailers, providing significant exposure and customer potential. The location is a key asset, offering a strategic advantage within a vibrant commercial area. Ample surface parking is available on-site, along with a rear loading dock. The property has a lot size of 0.8 acres and a building size of 11923 square feet. Located in Madison County, the property is positioned on Richmond Road in Berea.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Don's Discount Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Berea
    County
    Madison
    State
    Kentucky
    Longitude
    -84.283255
    Latitude
    37.587951

    Nearby Similar for Sale

    • $224,900
      2,880 SF

      Berea Multifamily Investment Opportunity

      Four-unit multifamily property with strong rental income potential in Berea.
      211 Mount Vernon Rd, Berea, KY 40403
      View Details
    • $299,900
      2,110 SF

      New Construction Duplex in Berea

      New construction duplex with modern design, strong rental potential.
      118 Morning View Rd, Berea, KY 40403
      View Details
    • $449,000
      7,660 SF

      Berea Warehouse and Office Space

      7,660 sq ft warehouse and office space in Berea.
      207 N Broadway St, Berea, KY 40403
      View Details
    • $279,900
      2,072 SF

      Berea Brick Duplex Near College

      Berea duplex near Boone Tavern and Berea College.
      655-659 Scaffold Cane Rd, Berea, KY 40403
      View Details
    • $269,900
      0.41 Acres

      Well-Maintained Triplex Outside Berea

      Three-unit property with updated interiors and detached garages for additional income.
      2471 Scaffold Cane Rd, Berea, KY 40403
      View Details
    • $275,000
      Pending

      Berea Duplex with Large Yard

      Duplex in Berea with two bedrooms, central heat & air.
      99 Lorraine Ct, Berea, KY 40403
      View Details
    • New
      $310,000
      2,248 SF

      Berea Brick Duplex For Sale

      Rare brick duplex with strong income potential in Berea, Kentucky.
      118 Central Ave, Berea, KY 40403
      View Details
    • $314,999
      Pending

      Fully Occupied Income-Generating Fourplex

      Well-maintained fourplex with immediate income and long-term tenant leases.
      120 Salter Rd, Berea, KY 40403
      View Details
    • New
      $1,144,500
      5,699 SF

      New Townhomes in Berea, KY

      New development featuring multiple townhomes with quality construction and upgrades.
      846 Ridgewood Dr, Berea, KY 40403
      View Details
    • $389,000

      Commercial Multi-Use Property in Berea

      Versatile commercial property in Berea, Kentucky with live-work potential.
      118 Lester St, Berea, KY 40403
      View Details
    • $435,000
      0.46 Acres

      Berea Car Wash - Prime Location

      Established Car Wash, High Traffic Area, Great Investment
      516 Glades Rd, Berea, KY 40403
      View Details
    • $300,000
      1.05 Acres

      Prime Berea Commercial Lot

      High-traffic location, 1.05 acres.
      525 Walnut Meadow Rd, Berea, KY 40403
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail shell space in high-traffic Berea location, ready for customization.
    Where is this retail space located?
    The property is located at 310 Richmond Rd Berea, KY.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - Prime retail location in Berea, KY with **high traffic and great visibility**.; - Located near an abundance of area retailers, ensuring a steady stream of potential customers.; - Available for immediate occupancy, allowing for quick setup and operation.
    (859) 309-0099
    Request Owner's contact information
    310 Richmond Rd Berea, KY 40403
    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.
    310 Richmond Rd
    Berea, KY 40403
    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
    310 Richmond Rd Berea, KY 40403
    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
    Adam Boardman
    Adam Boardman
    Real Estate License ID: 72655
    (859) 309-0099
    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.