Add Listing
    For Lease
    • 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

    2013 Lantern Ridge Dr Richmond, KY 40475

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    609 SF Retail Space in Madison County

    Lot size:
    609 SF

    Property Features for 2013 Lantern Ridge Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    609 SF

    Spaces For Lease

    at 2013 Lantern Ridge Dr, Richmond, KY 40475 Contact us

    We can help!

    Listing Contact
    Kevin Marschall
    Kevin Marschall

    Listing Agency: InStore Commercial Real Estate Listing Agent: Kevin Marschall

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail opportunity presents 609 square feet of prime in-store space within a high-traffic Meijer location in Madison County. Benefit from a highly visible, front-of-store position, ensuring maximum exposure to thousands of weekly shoppers. The all-inclusive monthly fee covers real estate taxes, property insurance, common area maintenance, and utilities, simplifying your operational costs. This "store-within-a-store" concept offers significant advantages, including interior and exterior branding opportunities via signage. The space is situated in a thriving trade area with a desirable customer base, making it ideal for a variety of businesses. Potential uses include financial institutions, food and beverage establishments, service businesses (such as pack and ship or repair services), health and wellness providers, and more. This turnkey solution provides immediate access to a built-in customer base within a well-established and recognizable retail environment. Multiple similar vacancies exist in Meijer stores across the Midwest. This is a unique chance to establish your business in a high-traffic, convenient location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    U.S. Bank ATM ... Atm Meijer Pharmacy Pharmacy Quick-Tag (Bike/Boat/Book/etc) Store US Bank Mortgage Loan Service higi Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Madison
    State
    Kentucky
    Longitude
    -84.333404910517
    Latitude
    37.737441216565

    Nearby Similar for Lease

    • New
      $1,200 /Mo
      1,482 SF

      Downtown Richmond Retail Opportunity

      Retail space available in downtown Richmond, Kentucky.
      310 W Irvine St, Richmond, KY 40475
      View Details
    • $3,000 /Mo
      1,100 SF

      Versatile Commercial Warehouse/Office Space

      2,240 sq ft Richmond commercial space for lease.
      1028 Golden Leaf Blvd, Richmond, KY 40475
      View Details
    • $1,600 /Mo
      1,600 SF

      Professional Office Space For Lease

      Office space available for lease in Richmond, Kentucky.
      1001 Gibson Bay Dr, Richmond, KY 40475
      View Details
    • $11 SF/Yr
      1,946 SF

      Richmond Flex Space with Drive-in

      Flex/industrial facility with office and warehouse space for lease.
      6013 Atwood Dr, Richmond, KY 40475
      View Details
    • $2,700 /Mo
      2,240 SF

      Richmond Mixed-Use Commercial Space

      2240 sqft mixed-use space for lease in Richmond, KY.
      1024 Golden Leaf Blvd Unit, Richmond, KY 40475
      View Details
    • $4,750 /Mo
      5,600 SF

      Richmond Commercial Space I-75 Frontage

      Versatile commercial space with I-75 frontage in Richmond, Kentucky.
      2827 Lexington Rd, Richmond, KY 40475
      View Details
    • $2,500 /Mo
      2,240 SF

      Richmond Flex Space For Lease

      2240 sqft mixed-use space available for lease in Richmond, KY.
      1024 Golden Leaf Blvd, Richmond, KY 40475
      View Details
    • $1,000 /Mo
      1,000 SF

      Richmond, KY Commercial Space

      Commercial space suitable for retail or office use in Richmond.
      105 S 3Rd St, Richmond, KY 40475
      View Details
    • $1,500 /Mo
      1,500 SF

      Versatile Office Space For Rent

      Office spaces with high visibility in established commercial center.
      2150 Lexington Rd, Richmond, KY 40475
      View Details
    • $1,000 /Mo
      1,400 SF

      Richmond, KY Office Space

      Office space available for rent in Richmond, Kentucky.
      944 Red House Rd, Richmond, KY 40475
      View Details
    • $6 SF/Yr
      11,250 SF

      Richmond Commercial Space For Rent

      Commercial space available for lease in Richmond, Kentucky.
      451 N Estill Ave, Richmond, KY 40475
      View Details
    • $14 SF/Yr
      1,570 SF

      Richmond, KY Office Space

      Office spaces with private restrooms, break rooms, and conference rooms.
      311 Spangler Dr, Richmond, KY 40475
      View Details

    FAQs

    What type of property is this?
    Retail property - 609 SF Retail Space in Madison County
    Where is this retail property located?
    The property is located at 2013 Lantern Ridge Dr Richmond, KY.
    What are key features of this property?
    This property features: 609 square feet of in-store retail space available for lease within a Meijer supermarket.; Located in Madison County.; High-traffic, front-of-store location offering excellent visibility and access to thousands of weekly customers.
    Request Owner's contact information
    2013 Lantern Ridge 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.
    2013 Lantern Ridge 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
    2013 Lantern Ridge 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 Kevin Marschall
    Kevin Marschall
    Real Estate License ID: 471022479
    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!