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    Frankfort Office Space For Lease Title is generated by Realmo AI

    111 St James Court, Frankfort, KY 40601

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    For Lease
    $3,458/Mo $14 SF/Yr (calc)

    COMMERCIAL - Frankfort, KY

    Type:Office
    Property size:
    2,964 SF
    Lot size:
    3.70 Acres
    Added:
    May 22, 2026
    Days on Market:
    6
    Last Refresh:
    May 27 at 10:06 pm

    Property Features for 111 St James Court

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Open
    Standard status
    Active
    APN
    051-00-00-048.01
    Size
    2,964 SF
    Lot size
    3.70 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Electric

    Building Details

    Year built
    1990
    Floors in Building
    1

    We can help!

    Listing Contact
    Alyssa Ryan
    Alyssa Ryan

    Listing agent Alyssa Ryan

    Listing office Marshall Lane Real Estate - Lexington 1792 Alysheba Way #110, Lexington, KY

    Listing date May 22, 2026

    MLS# 26011939

    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 traffic location: Over 48,162 vehicles per day (VPD) at I‑64 and Lawrenceburg Road (US 127), Exit 53A.
    • +/-8,832 SF freestanding building on +/-3.7 AC.
    • Newly remodeled +/-2,964 SF for lease on the second floor.
    • Prime location at the southeast quadrant of I‑64 and Lawrenceburg Road (US 127).
    • Located midway between Lexington and Louisville.
    • Built in 1990.

    Overview

    Located at the southeast quadrant of I-64 and Lawrenceburg Road (US 127) in Frankfort, Kentucky, this property benefits from a high traffic count of over 48,162 vehicles per day. The available space comprises 2,964 square feet on the second floor of an 8,832 square-foot freestanding building situated on a 3.7-acre lot. The space has been newly remodeled. The location is at Exit 53A. The rental rate is $14.00 per square foot on a modified gross lease. Frankfort is bisected by the Kentucky River and positioned midway between Lexington and Louisville. Frankfort is 29 miles west of Lexington, 54 miles east of Louisville and 107 miles southwest of Cincinnati.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.892778
    Latitude
    38.152482

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    FAQs

    What type of property is this?
    Office units - Remodeled office space in high-traffic Frankfort location available for lease.
    Where is this office units located?
    The property is located at 111 St James Court Frankfort, KY.
    What is the lease rate?
    The lease rate is $3,458 /Mo.
    What are key features of this property?
    This property features: High traffic location: Over 48,162 vehicles per day (VPD) at I‑64 and Lawrenceburg Road (US 127), Exit 53A.; +/-8,832 SF freestanding building on +/-3.7 AC.; **Newly remodeled +/-2,964 SF for lease on the second floor.**
    (859) 221-6833
    We can help!
    Listing Contact
    Alyssa Ryan
    Alyssa Ryan
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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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