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    Commercial Building in Edmonton, KY Title is generated by Realmo AI

    Ridge Dr, Edmonton, KY 42129

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    Commercial building with warehouse space and seller financing available.

    Type:Retail
    Property size:
    2,700 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $66/SF
    Added:
    Nov 29, 2023
    Days on Market:
    917
    Last Refresh:
    May 12 at 10:51 pm

    Property Features for Ridge Dr

    General Information

    Standard status
    Active
    Size
    2,700 SF
    Lot size
    0.28 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Glenn Thomas

    Listing agent Glenn Thomas License #KY 16650

    Listing office Mossy Oak Properties Hart Realty

    Listing date Nov 29, 2023

    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 Mossy Oak Properties Hart Realty

    HighLights

    • Seller financing available (20% down, 7% interest, 20‑year term, 3‑year balloon, $1,125 monthly payment).
    • 2,700 sq ft commercial building with versatile layout including large front room, kitchen, office, and warehouse space.
    • Warehouse space with garage door entrance, HVAC, breaker box, and washer/dryer hookups.
    • Located on a 0.28‑acre corner lot off West Stockton Street.
    • Kitchen includes appliances.
    • Two restrooms, including one with a shower.

    Overview

    This commercial building is located on a 0.28-acre lot off West Stockton Street in Edmonton, KY, at the corner of Castle Ridge Drive and Majestic Drive. The building contains approximately 2,700 square feet. It features a large front room measuring 44 feet by 19 feet, along with a 13-foot by 14-foot kitchen equipped with appliances. The rear of the building includes a warehouse or storage space that is 44 feet long and almost 20 feet wide, accessible via a side garage door entrance. The HVAC unit and breaker box are located in the warehouse, which also has hookups for a washer and dryer. Additional spaces include an office and a hallway. There are two restrooms: a men’s restroom measuring 4 feet by 5 feet and a women’s restroom measuring 9 feet by 5 feet, which also contains a shower. The building has a concrete parking area in the front. Seller financing is available with 20% down, 7% interest, a 20-year term, a 3-year balloon, and monthly payments of $1,125.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Edmonton
    County
    Metcalfe
    State
    Kentucky
    Longitude
    -85.5829
    Latitude
    36.9886

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    FAQs

    What type of property is this?
    Retail space - Commercial building with warehouse space and seller financing available.
    Where is this retail space located?
    The property is located at Ridge Dr Edmonton, KY.
    What is the asking price?
    The asking price for this property is $179,950.
    What are key features of this property?
    This property features: Seller financing available (20% down, 7% interest, 20‑year term, 3‑year balloon, $1,125 monthly payment).; **2,700 sq ft commercial building with versatile layout including large front room, kitchen, office, and warehouse space.**; **Warehouse space with garage door entrance, HVAC, breaker box, and washer/dryer hookups.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Glenn Thomas
    Real Estate License ID: KY 16650
    Learn More
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    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.

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