Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versailles Road Commercial Building Title is generated by Realmo AI

    654 Versailles Rd, Frankfort, KY 40601

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Commercial building for lease with high traffic volume.

    Type:Industrial
    Property size:
    4,469 SF
    Added:
    Apr 8, 2025
    Days on Market:
    425
    Last Refresh:
    May 12 at 10:01 pm

    Property Features for 654 Versailles Rd

    General Information

    Standard status
    Active
    Size
    4,469 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 654 Versailles Rd Contact us

    $14/Mo

    Size
    4,469 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Jamie Adams, SIOR, CCIM

    Listing agent Jamie Adams, SIOR, CCIM License #KY 72334

    Listing office NAI Isaac

    Listing date Apr 8, 2025

    Source Crexi

    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

    HighLights

    • High traffic location at the intersection of Versailles Road (US 60) and the East‑West Connector
    • Proximity to I‑64 (one mile)
    • Building size: +/-4,469 SF
    • Versailles Road (US 60) traffic count: 22,559 ('20) VPD
    • East‑West Connector traffic count: 18,179 ('19) VPD
    • I‑64 traffic count: 47,800 ('21) VPD

    Overview

    Available for lease is a building offering approximately 4,469 square feet of space in Frankfort, Kentucky. The property benefits from its location at the intersection of major road systems. Traffic volume on Versailles Road (US 60) is 22,559 vehicles per day (2020 data), while the East-West Connector sees 18,179 vehicles per day (2019 data). The property is also situated one mile from Interstate 64, which experiences a traffic volume of 47,800 vehicles per day (2021 data).
    Property Profile Location Intelligence

    Current Use by Public Records

    Freds 2 the Rescue (Bike/Boat/Book/etc) Store Burley Outdoor Advertising Marketing & Advertising

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.8214187
    Latitude
    38.1896879

    Nearby Similar for Lease

    • $5,000/Mo
      4,800 SF

      Updated Standalone Medical Office

      Standalone medical office with three exterior entrances, updated bathrooms, multiple offices, and on-site parking for 22 vehicles.
      635 Comanche Trail, Frankfort, KY 40601
      View Details
    • $1,500/Mo
      1,600 SF

      Frankfort Commercial Space For Rent

      Commercial space available for rent in Frankfort, Kentucky.
      200 W Broadway Street, Frankfort, KY 40601
      View Details
    • $3,458/Mo
      2,964 SF

      Frankfort Office Space For Lease

      Remodeled office space in high-traffic Frankfort location available for lease.
      111 St James Court, Frankfort, KY 40601
      View Details
    • $12 SF/Yr
      11,680 SF

      Newly Renovated Two-Story Office Building

      Move-in-ready, divisible office building with screened porch and ample parking, minutes to I-64 for easy regional access.
      104 Progress Dr, Frankfort, KY 40601
      View Details
    • $2,200/Mo
      1,800 SF

      Downtown Frankfort Restaurant Space Available

      First-floor restaurant space in downtown Frankfort with high traffic.
      308 Ann St, Frankfort, KY
      View Details
    • $14 SF/Yr
      8,832 SF

      Remodeled Office Space For Lease

      Freestanding building with remodeled office space for lease.
      111 Saint James Ct, Frankfort, KY 40601
      View Details
    • $1,700/Mo
      1,217 SF

      Professional Office Space Available

      Like-new office space with private offices and reception area.
      1120 #1 US Hwy 127 S Road, Frankfort, KY 40601
      View Details
    • Contact for pricing
      35,750 SF

      Retail End-Cap Space Available

      35,750 SF retail space in high-traffic Frankfort location.
      1300 U.S. Highway 127 South, Frankfort, KY, 40601
      View Details
    • $6 SF/Yr
      112,000 SF

      Frankfort Warehouse Space Available

      112,000± SF warehouse space for sublease in Frankfort, KY.
      101 Corporate Drive, Frankfort, KY, 40601
      View Details
    • Contact for pricing
      9,211 SF

      Frankfort Industrial Building with Fenced Yard

      9,211 SF industrial building with secure yard for lease.
      2663 Evergreen Rd, Frankfort, KY 40601
      View Details
    • Contact for pricing
      12,420 SF

      Eastwood Shopping Center End Cap

      Vacant end cap in anchored shopping center for sublease.
      101 eastwood shopping center, Frankfort, KY
      View Details
    • $15 SF/Yr

      Downtown Frankfort Office Space Available

      Remodeled office space with parking in downtown Frankfort.
      410 Ann St, Frankfort, KY, 40601-1929
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial building for lease with high traffic volume.
    Where is this specialty property located?
    The property is located at 654 Versailles Rd Frankfort, KY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High traffic location at the intersection of Versailles Road (US 60) and the East‑West Connector; Proximity to I‑64 (one mile); Building size: +/-4,469 SF
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jamie Adams, SIOR, CCIM
    Real Estate License ID: KY 72334
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    654 Versailles Rd, Frankfort, KY 40601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!