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    The Largest CRE Database in the US with Over 1 Million Listings

    190 Kings Daughters Dr Frankfort, KY 40601

    Sponsored
    For Sale
    $600,000

    Renovated Medical/Office Space, KY

    Property size:
    5,340 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional two-story office building, located at 190 Kings Daughters Drive in Frankfort, Kentucky, presents a unique investment opportunity. Boasting 5,340 square feet of net rentable space, the property underwent a complete renovation in 2024, including new roofs, flooring, parking lot improvements, and interior/exterior painting. The building features ample private offices, large conference rooms, and updated break areas/kitchenettes, making it ideal for medical or traditional office use. The single-unit building sits on a 0.34-acre lot and is zoned CL. Built in 1985, this property offers a blend of classic charm and modern functionality. Its strategic location provides easy access to major roadways, including I-64, connecting to Lexington and Louisville. The surrounding area offers a mix of professional, retail, and healthcare services, including nearby Kroger, Chick-fil-A, Walmart, and the new Paddocks of Frankfort mixed-use development anchored by a Target store. The property's proximity to Frankfort Regional Medical Center, government offices, and residential areas ensures high visibility and consistent traffic. The lower level comprises 2,670 square feet with six private offices, an open office area, and a conference room. The upper level mirrors this layout, also offering 2,670 square feet with ten perimeter offices, a conference room, and a break room. The asking price is $600,000. A drone video is available for viewing.

    Property Features for 190 Kings Daughters Dr

    General Information

    Property type
    Medical offices
    Square Feet
    5,340 SF
    Lot Size
    14,810 SF

    Building Details

    Year Built/Renovated
    1985/2024
    Buildings
    1
    Stories
    2
    Units
    1

    We can help!

    Listing Contact
    Lucas Witt

    Learn more

    Property Insight Report

    HighLights

    • Completely renovated in 2024, including new roofs, flooring, and parking lot.
    • 5,340 square feet of net rentable space in a single‑unit building on a 0.34‑acre lot.
    • Strategically located in Frankfort, KY at 190 Kings Daughters Drive, with easy access to I‑64.
    • Features ample private offices, large conference rooms, and updated break areas/kitchenettes, ideal for medical or traditional office use.
    • Asking price: $600,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant 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
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.9025972
    Latitude
    38.1643643

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    FAQs

    What type of property is this?
    Medical office - Renovated Medical/Office Space, KY
    Where is this medical office located?
    The property is located at 190 Kings Daughters Dr Frankfort, KY.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Completely renovated in 2024, including new roofs, flooring, and parking lot.; 5,340 square feet of net rentable space in a single-unit building on a 0.34-acre lot.; Strategically located in Frankfort, KY at 190 Kings Daughters Drive, with easy access to I-64.
    Request Owner's contact information
    190 Kings Daughters Dr Frankfort, KY 40601
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    Frankfort, KY 40601
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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.

    More about this property
    190 Kings Daughters Dr Frankfort, KY 40601
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    We can help!
    Listing Contact
    Lucas Witt
    Real Estate License ID: 21085
    Learn more
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