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    5004 Park Central Ave Nicholasville, KY 40356
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    5004 Park Central Ave, Nicholasville, KY 40356

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    • Warehouses
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bluegrass Furniture Mart / Furniture & Home Goods / Home Decor Store
    • Big Blue Wholesale / Big Box & Wholesale Store
    • Blue Line Motorsports / Car Dealership

    Property Details for 5004 Park Central Ave

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 7,300 square foot warehouse space is available for lease in the thriving Nicholasville, KY market. Located at 5004 Park Central Ave, 40356, this industrial property offers ample space for various business needs. The property is classified as a multi-tenant warehouse, providing flexibility for businesses of different sizes. While the total building square footage is not currently specified, the available space is substantial and ready for immediate occupancy. The property's address is conveniently situated in Nicholasville, Kentucky, offering easy access to major transportation routes, enhancing logistics and distribution efficiency. This prime location provides excellent visibility and accessibility for businesses seeking a strategic presence in the area. The warehouse is ideal for businesses requiring significant storage capacity, production space, or a combination of both. Interested parties are encouraged to inquire promptly to secure this exceptional opportunity. The property is ready for immediate occupancy, allowing businesses to quickly establish operations and capitalize on the market's potential. This warehouse presents a rare opportunity to lease a significant amount of space in a desirable location. Contact us today to schedule a viewing and discuss your business needs. The property is situated at 37.9332612 latitude and -84.538967 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.539
    Latitude
    37.9333

    Comparable in this City

    • Value Estimation by Request
      6.43 Acres

      Main St

      Distribution properties
      0 Main St, Nicholasville, KY 40356
      View Details
    • Value Estimation by Request
      1.00 Acre

      2nd St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      2nd St, Nicholasville, KY 40356
      View Details
    • Value Estimation
      $3,510,000
      24,079 SF

      977 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      977 Main St, Nicholasville, KY 40356-2151
      View Details
    • Value Estimation by Request
      1,209 SF

      602 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      602 Main St, Nicholasville, KY 40356-1026
      View Details
    • Value Estimation by Request
      1,944 SF

      216 Maple St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      216 Maple St, Nicholasville, KY 40356-1243
      View Details
    • Value Estimation by Request
      3,078 SF

      210 Maple St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      210 Maple St, Nicholasville, KY 40356-1592
      View Details

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    Similar Nearby for Lease

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      Warehouse Space with Fenced Yard

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    5004 Park Central Ave
    Nicholasville, KY 40356
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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
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