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

    150 Pleasant Retreat Drive Lancaster, KY 40444

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

    Multi-tenant retail center with available space and ample parking.

    Type:Retail
    Property size:
    20,000 SF
    Price / SF:
    $0.05/SF
    Added:
    Jan 27, 2026
    Days on Market:
    91
    Last Refresh:
    Apr 5 at 10:58 pm

    Property Features for 150 Pleasant Retreat Drive

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Property subtype
    Retail

    Properties For Sale

    at 150 Pleasant Retreat Drive Contact us

    We can help!

    Listing Contact
    Paul Ray Smith, Jr

    Listing agent Paul Ray Smith, Jr License #KY #183529

    Listing office

    Listing date Jan 27, 2026

    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 Paul Ray Smith, Jr

    Overview

    Lancaster Retail Center For Sale

    This multi-tenant retail center, totaling approximately 20,000 square feet, is located in Lancaster, Kentucky. Available space for lease ranges from approximately 1,900 to 8,000 square feet. The property benefits from a traffic count of approximately 9,022 ADT volume on US Highway 27, which runs in front of the center, and offers ample parking. Current tenants include Save-A-Lot Grocery, Walgreens, H&R Block, and Family Crafts & Flowers. The property is situated on Pleasant Retreat, just off US Highway 27, a heavily traveled north-south route from Lexington to Somerset. It is located one mile south of the Square in Lancaster and six miles north of Stanford. Lancaster is the county seat of Garrard County, located 27 miles south of Lexington. The center is under new ownership, with improvements planned.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Pleasant Retreat — 116 Pleasant Retreat Dr, Lancaster, KY 40444

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Garrard
    State
    Kentucky
    Longitude
    -84.5796
    Latitude
    37.6716

    Nearby Similar for Sale

    • $100,000
      7,000 SF

      Lancaster Church Ready for Revival

      Solid brick church with open sanctuary and full basement.
      65 Highland Avenue, Lancaster, KY 40444
      View Details
    • $225,000
      4,968 SF

      Historic Lancaster Commercial Building For Sale

      Two-story downtown building with potential for various uses.
      35 Public, Lancaster, KY 40444
      View Details
    • $249,900
      13,650 SF

      Church Facility with Parking Lot

      Church with parking, updated systems, and potential for redevelopment.
      39 Highland Avenue, Lancaster, KY 40444
      View Details
    • $489,999
      10,525 SF

      Lancaster Mixed-Use Investment Property

      Income-producing property with residential and commercial tenants in downtown Lancaster.
      105&107 Richmond Street, Lancaster, KY 40444
      View Details
    • $69,900
      3,536 SF

      Mixed-Use Property in Lancaster, KY

      Mixed-use property featuring retail and residential potential in Lancaster.
      1 Public Square, Lancaster, KY 40444
      View Details
    • $2,035,000

      Grand Estate with Versatile Potential

      Unique estate suited for business, events, or luxury living.
      6198 Lexington Road, Lancaster, KY 40444
      View Details

    FAQs

    What type of property is this?
    Shopping center - Multi-tenant retail center with available space and ample parking.
    Where is this shopping center located?
    The property is located at 150 Pleasant Retreat Drive Lancaster, 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: High traffic location: +\/-9,022 ADT volume on US Hwy 27.; Anchored by established tenants: Join Save‑A‑Lot Grocery, Walgreens, H&R Block, and Family Crafts & Flowers.; Available space: +\/-1,900 - 8,000 SF available for lease.
    (859) 422-4401
    We can help!
    Listing Contact
    Paul Ray Smith, Jr
    Real Estate License ID: KY #183529
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!