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

    1037 Fortune Dr Richmond, KY 40475

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    41+ Acres, Pad-Ready, I-75 Access

    Property Features for 1037 Fortune Dr

    General Information

    Property type
    Land
    Lot Size
    1,810,354 SF

    We can help!

    Listing Contact
    John Bunch
    John Bunch

    Listing Agency: SVN | Stone Commercial Real Estate Listing Agent: John Bunch

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 41.56-acre industrial site presents a rare opportunity for immediate development. Strategically located in Richmond, Kentucky's established Madison County industrial park, this property boasts unparalleled access to Interstate 75, less than four miles from Exit 83. The site is truly "shovel ready," featuring two pre-engineered pads totaling 608,000 square feet (406,500 sq ft and 201,500 sq ft). This eliminates extensive site preparation, saving significant time and costs. The I-2 Heavy Industrial zoning permits a wide range of manufacturing uses. Existing infrastructure includes readily available power and utilities, along with rail access and a private drive at the end of Fortune Drive. This location offers significant advantages for businesses seeking efficient logistics and a strong industrial presence in Central Kentucky. The property's size and preparation make it ideal for large-scale industrial projects, offering a substantial return on investment. This is a unique opportunity to acquire a fully prepared site ready for immediate construction in a thriving industrial area. The asking price is $1,995,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Food Market Grocery & Convenience Store Electronics & Wireless Store Daycare Center Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.269385
    Latitude
    37.691921

    Nearby Similar for Sale

    • $749,900
      2,000 SF

      Richmond Commercial Building with Apartments

      Commercial building with retail space and two apartments for sale.
      107 N Killarney Ln, Richmond, KY 40475
      View Details
    • $875,000
      1,629 SF

      Versatile Commercial Property, Richmond, KY

      Prime commercial property with office, garage, and development potential.
      1603 E Main St, Richmond, KY 40475
      View Details
    • $319,900
      1,100 SF

      Versatile Commercial Warehouse/Office Building

      2,240 sq ft Richmond commercial property with warehouse and office space.
      1028 Golden Leaf Blvd, Richmond, KY 40475
      View Details
    • $559,000
      Pending

      High-Visibility Commercial Property, Richmond, KY

      High-traffic location near Richmond Bypass, ideal for various uses.
      1055 Berea Rd, Richmond, KY 40475
      View Details
    • $250,000
      2,025 SF

      Richmond Commercial Space For Sale

      Multi-use commercial space in Richmond, ready for new owner.
      805 Kirksville Rd, Richmond, KY 40475
      View Details
    • $1,500,000
      11,200 SF

      Leased Commercial Investment Opportunity

      Fully leased commercial property with five units in Richmond, KY.
      1024 Golden Leaf Blvd, Richmond, KY 40475
      View Details
    • $185,000
      Pending

      Remodeled Office Building in Richmond

      Remodeled office space in downtown Richmond with high visibility.
      825 E Main St, Richmond, KY 40475
      View Details
    • $215,000
      Pending

      Richmond, KY Commercial Unit

      2,240 sq ft flex unit with utilities and garage door.
      1040 Golden Leaf Blvd, Richmond, KY 40475
      View Details
    • $315,000
      1,231 SF

      Richmond Flex Space with Workshop

      Unique property with office/workshop near Downtown Richmond.
      314 N 2Nd St, Richmond, KY 40475
      View Details
    • $3,500,000
      23,812 SF

      Richmond Industrial Building For Sale

      Industrial building with manufacturing equipment on 6.5 acres.
      151 Hanger Cir, Richmond, KY 40475
      View Details
    • $949,777
      45.64 Acres

      Richmond, KY Land Opportunity

      45.64 acres of land with road frontage in Richmond, KY.
      2-A1 Lancaster Rd, Richmond, KY 40475
      View Details
    • New
      $650,000
      9,763 SF

      Downtown Richmond Mixed-Use Building

      Mixed-use commercial building with retail and residential units.
      204-206 S 3Rd St, Richmond, KY 40475
      View Details

    FAQs

    What type of property is this?
    Land - 41+ Acres, Pad-Ready, I-75 Access
    Where is this land located?
    The property is located at 1037 Fortune Dr Richmond, KY.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: 41+ acre pad-ready industrial site.; Less than 4 miles from I-75.; Two engineered pads totaling 608,000 square feet (406,500 sf and 201,500 sf).
    (859) 264-0888 Call to check price and availability
    Request Owner's contact information
    1037 Fortune Dr Richmond, KY 40475
    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.
    1037 Fortune Dr
    Richmond, KY 40475
    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
    1037 Fortune Dr Richmond, KY 40475
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Bunch
    John Bunch
    Real Estate License ID: 221859
    (859) 264-0888 (859) 433-8911
    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!