Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    220 W Main Street Frankfort, KY 40601

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Recently renovated retail/office space in the heart of Frankfort.

    Added:
    Nov 22, 2025
    Days on Market:
    163
    Last Refresh:
    Apr 5 at 10:45 pm

    Property Features for 220 W Main Street

    General Information

    Standard status
    Active

    Properties For Sale

    at 220 W Main Street Contact us

    We can help!

    Listing Contact
    Max Darby

    Listing agent Max Darby

    Listing office

    Listing date Nov 22, 2025

    Source Naiglobal

    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 Max Darby

    Overview

    Downtown Frankfort Retail/Office Space

    Located on West Main Street in downtown Frankfort, this property offers a +/-2,275 SF first-floor retail/office space. Situated in the heart of Frankfort’s central business district at the corner of West Main and Lewis Streets, the suite includes two points of street-level access, a restroom, and a basement. Downtown Frankfort is home to Kentucky’s State Capital and a thriving community with a variety of shopping, restaurants, art, history, and many other amenities. Frankfort, the Capital of the Commonwealth, is bisected by the Kentucky River and is the midway point between Kentucky's two largest markets of Lexington and Louisville. Frankfort is 29 miles west of Lexington, 54 miles east of Louisville and 107 miles southwest of Cincinnati. The property is zoned CB, Central Business District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nitro of Frankfort Clothing & Fashion Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.8665
    Latitude
    38.1985

    Nearby Similar for Sale

    • $695,000
      5,435 SF

      Frankfort Commercial Building For Sale

      Well-maintained commercial building on a corner lot in Frankfort, KY.
      91 C Michael Davenport Boulevard, Frankfort, KY 40601
      View Details
    • $539,900
      4,688 SF

      Versatile Commercial Property in Frankfort

      Spacious commercial building on a large lot with flexible layout.
      9 Reilly Road, Frankfort, KY 40601
      View Details
    • $1,500,000
      9,860 SF

      Retail Opportunity in Frankfort, KY

      High-visibility shopping center on Louisville Road in Frankfort, Kentucky.
      949 Louisville Road, Frankfort, KY 40601
      View Details
    • $489,000
      4,984 SF

      Historic Frankfort Multifamily Investment Opportunity

      Income-producing property with river views and conversion potential.
      514 Wapping Street, Frankfort, KY 40601
      View Details
    • $799,000
      1,156 SF

      Income-Producing Mobile Home Park

      Turnkey mobile home park with expansion potential on 10 acres.
      9210 Owenton Road, Frankfort, KY 40601
      View Details
    • $890,000
      8,040 SF

      Medical Office Building Near Hospital

      8,039 SF medical office building near Frankfort Regional Medical Center.
      4 Physicians Park, Frankfort, KY 40601
      View Details
    • $349,500
      3,108 SF

      Remodeled Duplex in Frankfort, KY

      Rehabbed duplex with strong rental potential in northeast Frankfort.
      779 Ridgeview Drive unit: A&B, Frankfort, KY 40601
      View Details
    • $750,000
      4,469 SF

      Freestanding Building in Frankfort, Kentucky

      Well-located building with high visibility and accessibility in Frankfort.
      654 Versailles Road, Frankfort, KY 40601
      View Details
    • $325,000
      3,420 SF

      Historic Frankfort Commercial Building For Sale

      Two-story brick building in downtown Frankfort with income potential.
      225 W Main Street, Frankfort, KY 40601
      View Details
    • $2,565,000
      20,830 SF

      Frankfort, KY Commercial Investment

      NNN leased commercial property with income and renewal options.
      3 HMB Circle, Frankfort, KY 40601
      View Details
    • $374,000
      3,450 SF

      Frankfort, KY Fourplex Investment

      Fourplex in Frankfort, KY, offering consistent rental income.
      304 Quachita Trail, Frankfort, KY 40601
      View Details
    • $1,450,000
      11,680 SF

      Renovated Office Building For Sale

      Newly renovated office building with convenient access to major routes.
      104 Progress Dr, Frankfort, KY 40601
      View Details

    FAQs

    What type of property is this?
    Retail space - Recently renovated retail/office space in the heart of Frankfort.
    Where is this retail space located?
    The property is located at 220 W Main Street Frankfort, KY.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Located in the heart of downtown Frankfort, Kentucky's capital city.; Recently renovated first floor retail/office space.; Situated in Frankfort’s central business district at the corner of West Main and Lewis Streets.
    (859) 224-2000
    We can help!
    Listing Contact
    Max Darby
    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
    220 W Main Street, Frankfort, KY 40601
    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!