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    Commercial Property with Automotive Features Title is generated by Realmo AI

    1601 Foxhaven Drive, Richmond, KY 40475

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    Claim this Listing
    Pending
    $2,750/Mo $19 SF/Yr (calc)

    COMMERCIAL - Richmond, KY

    Type:Retail
    Property size:
    1,701 SF
    Lot size:
    0.55 Acres
    Added:
    Feb 20, 2026
    Days on Market:
    85
    Last Refresh:
    May 16 at 1:06 am

    Property Features for 1601 Foxhaven Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Rooms
    Basement
    Basement
    Partial
    Standard status
    Pending
    APN
    054B-0002-0002
    Size
    1,701 SF
    Lot size
    0.55 Acres

    We can help!

    Listing Contact
    Karen Scalf

    Listing agent Karen Scalf

    Listing office Next Level Property Management LLC 1406 S Hwy 27, Somerset, KY

    Listing date Feb 20, 2026

    MLS# 26003106

    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

    • Prime B‑3 Zoned Commercial Property: High visibility corner lot at Lexington Rd. and Foxhaven Dr. with easy accessibility.
    • Fully Equipped Quick Lube Facility: Includes three 16' x 12' bays, lobby, updated restrooms, and automotive service equipment.
    • Ample Parking and Storage: 0.55 acres accommodating up to 35 parking spaces, plus a full basement for storage or expansion.
    • Essential Automotive Infrastructure: Features oil tanks, air compressor, oil pumps, first aid station, and eye wash station.
    • Garage with Upgrades: SunStar infrared heating, LED lighting, and durable epoxy flooring approved for lifts.
    • Convenient Location: Easily accessible from I‑75, making it a prime investment opportunity.

    Overview

    Located at the corner of Lexington Rd. and Foxhaven Dr., this commercial property is zoned B-3 and offers high visibility and accessibility. The 0.55-acre lot can accommodate up to 35 parking spaces. Currently used as a quick lube facility, it includes three 16' x 12' bays, a lobby, and updated men's and women's restrooms. The 1,701 square foot property is fully equipped for automotive services. A full basement provides storage space or the ability to expand the business. The property features two 300-gallon vertical oil tanks, a 1,000-gallon used oil tank, and two 300-gallon windshield fluid tanks, along with an air compressor with air lines, oil pumps, and a first aid and eye wash station. The garage has SunStar infrared heating tubes, LED lighting, and black and white epoxy flooring approved for lifts. The property is easily accessible from I-75. Ideal uses for this commercial lot would be an automotive garage or a used car lot. The lease amount is $2,750 per year, with a 5-year lease term and a 10% lease rate increase after the first full term. The lessee is responsible for all utilities and insurance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pit Lane Oil ... Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.311871
    Latitude
    37.766919

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    FAQs

    What type of property is this?
    Automotive property - B-3 zoned commercial property with automotive service capabilities.
    Where is this automotive property located?
    The property is located at 1601 Foxhaven Drive Richmond, KY.
    What is the lease rate?
    The lease rate is $2,750 /Mo.
    What are key features of this property?
    This property features: Prime B‑3 Zoned Commercial Property: High visibility corner lot at Lexington Rd. and Foxhaven Dr. with easy accessibility.; Fully Equipped Quick Lube Facility: Includes three 16' x 12' bays, lobby, updated restrooms, and automotive service equipment.; Ample Parking and Storage: 0.55 acres accommodating up to 35 parking spaces, plus a full basement for storage or expansion.
    (606) 222-4063
    We can help!
    Listing Contact
    Karen Scalf
    Learn More
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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.

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