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    509 3Rd St Richmond, KY 40475

    Sponsored
    For Lease
    $7 SF/Yr

    Spacious KY Warehouse, Ready September 2024

    Lot size:
    43,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 43,000-square-foot industrial warehouse in Richmond, Kentucky, is available for sale or lease. Situated on a three-acre lot (509 N 3rd St, Richmond, KY 40475), this single-tenant property boasts a newly renovated interior and exterior. Completed in September 2024, the renovation included a new metal roof and gutters, upgraded structural steel, new walls, and a substantial drive-in door. The property also features one loading dock, providing efficient loading and unloading capabilities. Additional improvements include an adjacent acre of excess yard space, ideal for storage or expansion, and a small covered parking area. The property is zoned I-1, B and is located in Madison County. This warehouse presents a rare opportunity to acquire a fully modernized industrial space with ample outdoor area in a prime location. The combined properties at 509 N 3rd St, 601 N 3rd St, and 235 Broadway Avenue encompass a total of 3.044 acres. This property is perfect for businesses seeking a functional and well-maintained space with significant expansion potential.

    Property Features for 509 3Rd St

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,000 SF
    Total Rate
    25083.33

    Building Details

    Year Renovated
    2024
    Buildings
    1

    Unit(s) available at that property

    Space
    Size
    43,000 SF
    Rate per SF
    $7

    HighLights

    • 43,000 SF industrial warehouse available for sale or lease in Richmond, KY.
    • Newly renovated in September 2024, including roof, steel, walls, and a drive‑in door.
    • Three‑acre site (509, 601 N 3rd St & 235 Broadway Ave) includes one loading dock, extra yard space, and small covered parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.2935308
    Latitude
    37.7535336

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    FAQs

    What type of property is this?
    Distribution property - Spacious KY Warehouse, Ready September 2024
    Where is this distribution property located?
    The property is located at 509 3Rd St Richmond, KY.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 43,000 SF industrial warehouse available for sale or lease in Richmond, KY.; Newly renovated in September 2024, including roof, steel, walls, and a drive-in door.; Three-acre site (509, 601 N 3rd St & 235 Broadway Ave) includes one loading dock, extra yard space, and small covered parking.
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    509 3Rd St Richmond, KY 40475
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    Richmond, KY 40475
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    Realmo Value Estimation

    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.

    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.

    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
    509 3Rd St Richmond, KY 40475
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