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    1127 Us Highway 127 Frankfort, KY 40601

    • Retail properties
    • 85,000 SF
    • 14.30 lot acres
    For Lease
    View listing
    $4 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 1127 Us Highway 127

    Lot size
    14.30 lot acres
    Property size
    85,000 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    Century Plaza, a single-story, 85,000 square foot shopping center in Frankfort, Kentucky, presents exceptional retail and restaurant leasing opportunities. Situated on 14.3 acres of land at 1127 US Hwy 127 S, this property boasts high visibility and accessibility, with an average daily traffic count of 29,700 vehicles. The center benefits from its location near major retailers like Lowe's, Home Depot, and Walmart, and is within one mile of I-64, ensuring strong customer traffic. Currently, there are 11 suites available, with spaces ranging from 1,200 to 50,000 contiguous square feet

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.8962
    Latitude
    38.1751

    Comparable in this City

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      23,987 SF

      1070 Versailles Rd

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      0.78 Acres

      200 Limestone Dr

      Land • 0.78 Acres
      200 Limestone Dr, Frankfort, KY 40601
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      12,000 SF

      125 Brighton Park Blvd

      Office Properties & Spaces • 12,000 SF
      125 Brighton Park Blvd, Frankfort, KY 40601
      View Details

    Similar Nearby for Sale

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      6,650 SF

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      High-Traffic Auto Dealership

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      Versailles Road Commercial Opportunity

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      1348-1350 Versailles Rd, Frankfort, KY 40601
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    • Contact for pricing

      Freestanding Restaurant with Drive-Thru

      6,040 SF restaurant with drive-thru for sale in Frankfort.
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    Similar Nearby for Lease

    • $4 SF/Yr
      85,000 SF

      Century Plaza Retail Center

      Frankfort, KY Shopping Center Opportunity
      1127 Us Highway 127, Frankfort, KY 40601
      View Details
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      11,280 SF

      Frankfort Retail Space: High Visibility

      High-traffic retail space, Frankfort, KY. Multiple units available.
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      104,386 SF

      Brighton Park Shopping Center

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      Franklin Square Retail Outlot

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      Frankfort Retail Space Available

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      934 Louisville Rd, Frankfort, KY 40601
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      8,771 SF

      Retail Building with Drive-Through Canopy

      8,771 SF building with 920 SF drive-through on 4.142 acres.
      201 Limestone St S, Frankfort, KY 40601
      View Details
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    1127 Us Highway 127
    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.

    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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