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

    508 Lexington Rd Versailles, KY 40383

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Single-tenant Giovanni’s Pizza with drive-through in thriving retail corridor.

    Property size:
    1,812 SF
    Lot size:
    0.63 Acres

    Property Features for 508 Lexington Rd

    General Information

    Standard status
    Active
    Zoning
    Commercial
    Size
    1,812 SF
    Lot size
    0.63 Acres

    We can help!

    Listing Contact
    Isa Mashni
    Isa Mashni
    Source: Crexi

    Listing Agency: Coleman Group Commercial Real Estate & Property Managemenet Listing Agent: Isa Mashni

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    High-Traffic Retail Investment Opportunity

    This is an opportunity to acquire a single-tenant retail property leased to Giovanni’s Pizza, a regional brand with over 100 locations. The property is offered at $595,000, generating a net operating income of $37,173 annually. The tenant operates under a NN lease with 3 years and 1 month remaining. The tenant is responsible for the interior of the building, parking lot, all lighting electrical, plumbing HVAC repairs, all utilities, property taxes, and HVAC preventative maintenance. The landlord is responsible for insurance, HVAC replacement (newly installed HVAC in 2024), exterior structure, and roof. There are no renewal options. The property is positioned along a major retail and traffic corridor, with high visibility, excellent frontage, and two access points. It also features drive-through access. Located directly across from the largest Kroger in Kentucky, the site is surrounded by national and regional retailers including Chipotle, Starbucks, Wendy’s, Dunkin’, and Valvoline. Additional parking is available via an adjacent lot. The property is 1812 square feet and is suitable for conventional restaurants, restaurants, NNN properties, specialty properties, retail space, retail properties & spaces, and drive-through restaurants.
    Location Intelligence

    Current Use by Public Records

    Giovanni's Pizza Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Versailles
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.714035
    Latitude
    38.050524

    Nearby Similar for Sale

    • $685,000
      0.04 Acres

      Versailles Commercial Space with Apartment

      Downtown Versailles commercial space with renovated apartment and endless possibilities.
      192 S Main St, Versailles, KY 40383
      View Details
    • $1,395,000
      8,452 SF

      Profitable Bed and Breakfast Venue

      Turn-key bed and breakfast and wedding venue on nine acres.
      1010 Steele Rd, Versailles, KY 40383
      View Details
    • Contact for pricing

      Versailles Shopping Center For Sale

      70,000 SF shopping center with strong tenant mix.
      480 Lexington Rd, Versailles, KY 40383
      View Details
    • $922,000
      4.32 Acres

      Versailles KY Industrial Land Opportunity

      4.32 Acres, I1 Zoning, High Development Potential
      305 Kentucky Ave, Versailles, KY 40383
      View Details
    • Contact for pricing

      Versailles Homestead with Two Homes

      49.7-acre homestead with two homes, outbuildings, and peaceful setting.
      3890 Oregon Rd, Versailles, KY 40383
      View Details
    • Contact for pricing

      Versailles Farm with New Home

      12-acre farm with a new home under construction.
      4288 Pinckard Pike, Versailles, KY 40383
      View Details
    • $350,000
      1,815 SF

      Versailles Commercial Office Building

      Prime location, established dental practice.
      210 Crossfield Dr, Versailles, KY 40383
      View Details
    • $715,000
      0.04 Acres

      Downtown Versailles Commercial Gem

      Prime location, income-producing apartment.
      192 Main St, Versailles, KY 40383
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Single-tenant Giovanni’s Pizza with drive-through in thriving retail corridor.
    Where is this conventional restaurant located?
    The property is located at 508 Lexington Rd Versailles, KY.
    What are key features of this property?
    This property features: - High-traffic location on a major retail corridor, directly across from the largest Kroger in Kentucky, surrounded by national retailers.; - NN lease provides stable, passive income of $37,173 annually with a 6.25% cap rate.; - Leased to Giovanni's Pizza, a well-established regional brand with over 100 locations.
    Request Owner's contact information
    508 Lexington Rd Versailles, KY 40383
    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.
    508 Lexington Rd
    Versailles, KY 40383
    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
    508 Lexington Rd Versailles, KY 40383
    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

    We can help!
    Listing Contact
    Isa Mashni
    Isa Mashni
    Real Estate License ID: 46403
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!