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    509 3Rd St Richmond, KY 40475

    Sponsored
    For Sale
    $4,200,000

    Modern Warehouse, 3 Acres, I-1 & B Zoning

    Property size:
    43,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 43,000-square-foot industrial warehouse, located at 509 N 3rd St, Richmond, KY 40475, presents a unique investment opportunity. Completely renovated in 2024, this single-story building sits on a 3-acre lot and boasts a modern design. Features include a new metal roof and gutters, updated walls, a large drive-in door, and a loading dock. The property also includes an additional acre of yard space and a small covered parking area. The combined properties at 509 and 601 N 3rd St, and 235 Broadway Avenue encompass a total of 3.044 acres. The building is zoned I-1 and B, offering flexibility for various industrial uses. The asking price is $4,200,000, translating to a price per square foot of $97.67. This property offers significant potential for businesses seeking a modern, well-equipped warehouse in a convenient location. The renovation's completion is anticipated for September 2024. This is a rare opportunity to acquire a newly renovated, large-scale industrial property in a desirable Kentucky location.

    Property Features for 509 3Rd St

    General Information

    Property type
    Distribution properties
    Square Feet
    43,000 SF
    Lot Size
    130,680 SF

    Building Details

    Year Renovated
    2024
    Buildings
    1
    Stories
    1

    HighLights

    • 43,000 SF industrial warehouse for sale or lease in Richmond, KY.
    • Newly renovated in September 2024.
    • Includes three contiguous parcels totaling 3.044 acres at 509 & 601 N 3rd St and 235 Broadway Ave.
    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 - Modern Warehouse, 3 Acres, I-1 & B Zoning
    Where is this distribution property located?
    The property is located at 509 3Rd St Richmond, KY.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: 43,000 SF industrial warehouse for sale or lease in Richmond, KY.; Newly renovated in September 2024.; Includes three contiguous parcels totaling 3.044 acres at 509 & 601 N 3rd St and 235 Broadway Ave.
    Request Owner's contact information
    509 3Rd St 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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