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    London Commercial Property For Sale Title is generated by Realmo AI

    506 E Laurel Road, London, KY 40741

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    For Sale
    $485,000

    COMMERCIAL - London, KY

    Property size:
    10,300 SF
    Lot size:
    0.96 Acres
    Price / SF:
    $47/SF
    Added:
    Apr 12, 2024
    Days on Market:
    764
    Last Refresh:
    May 15 at 3:06 am

    Property Features for 506 E Laurel Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    20
    Standard status
    Active
    APN
    064-50-00-001.00
    Size
    10,300 SF
    Lot size
    0.96 Acres

    Utilities

    Utilities
    Phone Available
    Sewer type
    Public Sewer

    Building Details

    Year built
    1980
    Floors in Building
    1
    Building materials
    Block
    Roof type
    Shingle, Composition, Metal

    We can help!

    Listing Contact
    Winston B Smith

    Listing agent Winston B Smith License #207456

    Listing office Sallie Davidson, Realtors 451 Keavy Road, KY

    Listing date Apr 12, 2024

    MLS# 24007060

    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

    • Large 10,300+ SF multipurpose commercial building suitable for various businesses.
    • Prime location: Conveniently situated near Hwy 192 on Hwy East 80 within city limits.
    • Functional layout: Includes multiple showrooms, garage/shop spaces, loading dock, and kitchen area.
    • Equipped with essential amenities: Features electric A/C, gas heat, city sewer, and a monitored security system.
    • Accessibility: Handicapped/wheelchair accessible with a 50' x 6.5' sidewalk.
    • Additional inventory opportunity: Over $400,000 worth of NOS automotive & tractor parts available at a discounted price.

    Overview

    This commercial property, situated within city limits, is currently utilized as an automotive sales and powersports dealership and eBay store. Located 0.2 miles from Kentucky Highway 192 on East Highway 80 in London, Kentucky, the building encompasses over 10,300 square feet. Interior features include electric air conditioning, gas heat, and city sewer. A monitored security system is in place, and the property is wheelchair accessible. Additional amenities include a loading dock, a 50' x 6.5' sidewalk, two bathrooms, and a kitchen area. The building is positioned on a 0.96-acre lot. The floor plan incorporates a 3610 square foot front showroom, a 2400 square foot right front showroom, a 1824 square foot left front garage with a 10'x12' garage door, a 442 square foot front shop with loading ramp, a 1020 square foot rear shop with a 10' x 8' sliding door, a 900 square foot rear right shop/garage with 12' x 10' sliding doors and a 485 square foot left rear shop. The property is suitable for multipurpose commercial business use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Showrooms

    Suggested Use

    Building Supply Auto Repair Shop Accounting Firm Clothing & Fashion Store

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

    Similar Places Nearby

    • The London Muffler Shop — 1857 N Mill St, London, KY 40741

    Location Insight

    • Map
    • Local Demand
    City
    London
    County
    Laurel
    State
    Kentucky
    Longitude
    -84.044337
    Latitude
    37.11738

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    FAQs

    What type of property is this?
    Automotive property - Versatile 10,300 SF commercial building on 0.96 acres.
    Where is this automotive property located?
    The property is located at 506 E Laurel Road London, KY.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: Large 10,300+ SF multipurpose commercial building suitable for various businesses.; Prime location: Conveniently situated near Hwy 192 on Hwy East 80 within city limits.; Functional layout: Includes multiple showrooms, garage/shop spaces, loading dock, and kitchen area.
    (606) 877-3000
    We can help!
    Listing Contact
    Winston B Smith
    Real Estate License ID: 207456
    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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