Unfinished Flex
For Sale
$1,350,000
1165 Crossfield Dr, Versailles, KY 40383
Brand-new commercial shell offers adaptable interior and site planning for customized business operations.
Property Size9,450 SF
Lot Size1.67 Acres
Price / SF$142.86
Days on Market357
Property Features for 1165 Crossfield Dr
General Information
Standard status
Active
Size
9,450 SF
Lot size
1.67 Acres
Property subtype
Industrial
Zoning
B-4
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
7,434 SF
Dock-High Doors
1
Drive-In Doors
1
Power
400 amps
Amenities
Vacant
Building Details
Year Built
2024
Buildings
1
Building Size
9,450 SF
Listing Agency:
The Gibson Company
(859) 224-8833
Listed By:
Kevin Verhoven · License #58263
(859) 224-8833
Source:
Kcrea.resimplifi
Added: Sep 8, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Gibson Company
Investment Insights
Based on property information with market context.
Completed in 2024, this 9,450-square-foot flex property is being offered as an unfinished commercial building. The interior build-out, parking lot, landscaping, and circulation plan remain to be completed, allowing the finished configuration to be tailored to the eventual operation. The property is positioned on 1.67 acres and carries B-4 zoning.
The planned building features include an 18-foot clear ceiling, a 16-foot drive-in door, one loading dock, and a 400-amp power service stub. Its unfinished condition provides flexibility for an owner or occupant seeking to establish a customized combination of warehouse and office functions. The property is located at 1165 Crossfield Dr in Versailles, Kentucky.
The planned building features include an 18-foot clear ceiling, a 16-foot drive-in door, one loading dock, and a 400-amp power service stub. Its unfinished condition provides flexibility for an owner or occupant seeking to establish a customized combination of warehouse and office functions. The property is located at 1165 Crossfield Dr in Versailles, Kentucky.
Key Highlights
- 9,450 SF commercial building on 1.67 acres
- 2024 construction with unfinished interior and site improvements
- B‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,955
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,359,100
$1.4M
Cap Rate 7%
$970,786
$970.8K
Cap Rate 9%
$755,056
$755.1K
Market Conditions
NOI Build-Up for 9,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$85.1K $9.00/SF
− Vacancy
−$5.1K −$0.54/SF
EGI
$79.9K $8.46/SF
− OpEx
−$12.0K −$1.27/SF
NOI
$68.0K $7.19/SF
Area
Jessamine County, KY
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,359,100
Cap Rate 7%
$970,786
Cap Rate 9%
$755,056
Alternative Uses
Best Use
Warehouse
$970.8K
$849.4K – $1.13M
NOI $67,955 @ 7.0% cap · market cap 5.03%
Second Best
Industrial
$799.5K
$699.5K – $932.7K
NOI $55,963 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$2.40M
$2.10M – $2.79M
NOI $167,651 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40383, KY
24,592
Population
10,431
Households
2.4
Avg Household Size
43
Median Age
42%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
164
Density / Sq Mi
$80,444
Median Household Income
$42,365
Median Earnings
$998
Median Rent
$279,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- sisters & friends catering — 229 Lexington Rd, Versailles, KY 40383
Frequently Asked Questions
What type of property is this?
Flex space - Brand-new commercial shell offers adaptable interior and site planning for customized business operations.
Where is this flex space located?
The property is located at 1165 Crossfield Dr Versailles, KY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9,450 SF commercial building on 1.67 acres; 2024 construction with unfinished interior and site improvements; B‑4 zoning
