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    Freestanding Office Building Title is generated by Realmo AI

    360 Democrat Drive, Frankfort, KY 40601

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    Single-tenant office building with substantial onsite parking and convenient access just off I-64 near US 60.

    Type:Office
    Property size:
    18,376 SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 3:01 am

    Property Features for 360 Democrat Drive

    General Information

    Standard status
    Active
    Size
    18,376 SF
    Property subtype
    Office

    Properties For Sale

    at 360 Democrat 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 Jun 2, 2026

    Source Naiisaac

    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

    HighLights

    • +/-18,376 SF freestanding, single‑tenant office building
    • Located just off I‑64 at the intersection of US 60 (Exit 58)
    • +/-73 onsite parking spaces available
    • Near Glenns Creek Manor and nearby senior housing (opened 2022) and Pleasant View Assisted Living
    • Rental rate: contact agent

    Overview

    This freestanding, single-tenant office building offers approximately 18,376 square feet of dedicated workspace. The property is positioned to support an office operator looking for a self-contained footprint, with layout and use tailored to an owner-occupied or single-tenant environment. Onsite parking includes approximately 73 spaces, supporting daily employee and visitor needs.

    Located just off I-64 at the intersection of US 60 at Exit 58, the building provides straightforward regional access. The property sits adjacent to Glenns Creek Manor, and nearby options include a senior housing community that opened in 2022 as well as Pleasant View Assisted Living. Additional amenities such as restaurants and shopping are also available in the surrounding area.

    With its freestanding configuration and ample parking, the building may be well suited for professional services, administrative offices, or other office-based businesses seeking visibility and direct access to major routes. For investors or owner-users, the single-tenant nature can simplify planning and operations, while the location supports a practical day-to-day commute for staff and customers.
    Location Intelligence

    Current Use by Public Records

    Kentucky Court of Appeals Courthouse Kentucky Apartment Building

    Suggested Use

    Real Estate Agency Restaurant 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
    -84.8177722
    Latitude
    38.1729356

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    FAQs

    What type of property is this?
    Office building - Single-tenant office building with substantial onsite parking and convenient access just off I-64 near US 60.
    Where is this office building located?
    The property is located at 360 Democrat Drive Frankfort, KY.
    What are key features of this property?
    This property features: +/-18,376 SF freestanding, single‑tenant office building; Located just off I‑64 at the intersection of US 60 (Exit 58); +/-73 onsite parking spaces available
    (859) 420-2200
    We can help!
    Listing Contact
    Paul Ray Smith, Jr
    Real Estate License ID: KY #183529
    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.

    More about this property
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