Freestanding Building in Brannon
For Sale
$3,590,000
131 Marlene Drive, Nicholasville, KY 40356
30,667 SF building on 2.4 acres in Brannon Crossing.
Property Size30,667 SF
Price / SF$117.06
Days on Market274
Property Features for 131 Marlene Drive
General Information
Standard status
Active
Size
30,667 SF
Property subtype
Retail
Building Details
Building Size
30,667 SF
Year Built
2007
Listing Agency:
NAI Isaac
(859) 221-4000
Listed By:
Al Isaac · License #KY #223721
(859) 221-4000
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 19
Last Checked: Aug 22 at 4:50AM
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 NAI Isaac
Investment Insights
Based on property information with market context.
Located in Brannon Crossing on Nicholasville Road (US 27) in Jessamine County, just south of the Fayette County line, this freestanding building offers approximately 30,667 square feet of space on approximately 2.4 acres. The building, constructed in 2007, features a footprint of approximately 20,667 square feet with an additional approximately 10,000 square foot mezzanine. The first floor primarily consists of open retail space, two rear offices, and restrooms. The second floor includes offices, restrooms, and warehouse space. There are 68 on-site parking spaces. Brannon Crossing is a 100+ acre development strategically located approximately one mile south of Man O' War Boulevard. US 27 is a primary traffic artery with 43,918 vehicles per day, connecting Lexington with Nicholasville and other communities to the south. The property is situated in front of Brannon Crossing, offering excellent visibility from Nicholasville Road (US 27). The location is adjacent to Bob Evans, Zips Carwash, and Kroger. The first floor consists of open retail space, two rear offices and restrooms. The seller agrees to leaseback the property for 6-12 months. Major draws for the center include one of the largest Kroger supermarkets in Kentucky, Hobby Lobby, Petsmart, HomeGoods, Marshalls and numerous successful restaurants and retailers.
Key Highlights
- +/-30,667 SF freestanding building on +/-2.4 acres in Brannon Crossing.
- Located in high‑traffic area on Nicholasville Road (US 27) with 43,918 VPD.
- Excellent visibility from Nicholasville Road (US 27).
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
$291,812
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
8.13%
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%
$5,836,240
$5.8M
Cap Rate 7%
$4,168,743
$4.2M
Cap Rate 9%
$3,242,356
$3.2M
Market Conditions
NOI Build-Up for 30,667 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
$441.6K $14.40/SF
− Vacancy
−$24.7K −$0.81/SF
EGI
$416.9K $13.59/SF
− OpEx
−$125.1K −$4.08/SF
NOI
$291.8K $9.52/SF
Area
Jessamine County, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$5,836,240
Cap Rate 7%
$4,168,743
Cap Rate 9%
$3,242,356
Alternative Uses
Best Use
Retail
$4.17M
$3.65M – $4.86M
NOI $291,812 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.77M
$6.80M – $9.07M
NOI $544,057 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
256k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 28%
Apparel 7%
Home Improvements & Furnishings 1%
Hobby Lobby
Shops & Services
44,193 visits/mo
0.3 miles
McDonald's
Dining
26,611 visits/mo
0.1 miles
Cracker Barrel Old Country Store
Dining
25,436 visits/mo
0.1 miles
PetSmart
Shops & Services
25,004 visits/mo
0.3 miles
Drake's
Dining
21,964 visits/mo
0.5 miles
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 30,667 SF building on 2.4 acres in Brannon Crossing.
Where is this retail space located?
The property is located at 131 Marlene Drive Nicholasville, KY.
What is the asking price?
The asking price for this property is $3,590,000.
What are key features of this property?
This property features: +/-30,667 SF freestanding building on +/-2.4 acres in Brannon Crossing.; Located in high‑traffic area on Nicholasville Road (US 27) with 43,918 VPD.; Excellent visibility from Nicholasville Road (US 27).
