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    Nicholasville Commercial Property For Lease Title is generated by Realmo AI

    1001-1007 Elizabeth Street, Nicholasville, KY 40356

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    For Lease
    $12,000/Mo $16 SF/Yr (calc)

    COMMERCIAL - Nicholasville, KY

    Property size:
    8,576 SF
    Lot size:
    2.50 Acres
    Added:
    Apr 9, 2026
    Days on Market:
    38
    Last Refresh:
    May 16 at 2:06 am

    Property Features for 1001-1007 Elizabeth Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    20
    Standard status
    Active
    APN
    056-00-00-005
    Size
    8,576 SF
    Lot size
    2.50 Acres

    Utilities

    Utilities
    Phone Available
    Sewer type
    Public Sewer

    Building Details

    Year built
    1996

    We can help!

    Listing Contact
    Dan Elkinson

    Listing agent Dan Elkinson

    Listing office Bluegrass Sotheby's International Realty 1999 Richmond Road Ste 400, Lexington, KY

    Listing date Apr 9, 2026

    MLS# 26007433

    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.

    HighLights

    • High‑visibility location on US 27 at a signalized intersection.
    • Master lease available with option to purchase.
    • Multiple income streams: Gas station, C‑store, two restaurants, car wash/auto detailing.
    • Recent renovations: New roof, branded dispensers, canopy trim, underground fuel piping, and updated HVAC/refrigeration.
    • Additional income opportunities: Marquee billboard and two interior spaces.
    • Large lot size with future redevelopment potential.

    Overview

    This commercial property, located in Nicholasville, KY, is available for master lease with an option to purchase. Situated on US 27 at a signalized intersection, the property features high visibility. It includes a gas station, convenience store, two restaurants (one currently under lease), and an additional building suitable for a car wash or auto detailing. Recent renovations include a new roof on the entire building and carwash building, new branded dispensers and canopy trim, and a new underground fuel piping system. Most HVAC, refrigeration, and cooling units have been replaced in the past 2 years. The property offers additional income opportunities with a marquee billboard and two additional spaces inside the building, potentially suitable for a small gaming room, check cashing, or a food concept. The large lot size of 2.5 acres and location provide an amazing future redevelopment opportunity if one chooses to pursue the lease with a purchase option. The property size is 8576 square feet. Fuel incentive/branding must be assumed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Pharmacy Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.557718
    Latitude
    37.91687

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    FAQs

    What type of property is this?
    Gas station - High visibility commercial property available for master lease in Nicholasville.
    Where is this gas station located?
    The property is located at 1001-1007 Elizabeth Street Nicholasville, KY.
    What is the lease rate?
    The lease rate is $12,000 /Mo.
    What are key features of this property?
    This property features: High‑visibility location on US 27 at a signalized intersection.; Master lease available with option to purchase.; Multiple income streams: Gas station, C‑store, two restaurants, car wash/auto detailing.
    (859) 363-6175
    We can help!
    Listing Contact
    Dan Elkinson
    Learn More
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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
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