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    653 Chamberlin Ave Frankfort, KY 40601

    • Commercial real estate
    • 52,416 SF
    • 3.78 lot acres
    For Sale
    View listing
    $4,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0888217
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 653 Chamberlin Ave

    Year built
    2002
    Lot size
    3.78 lot acres
    Property size
    52,416 SF
    Property type
    Commercial real estate
    APN
    036-00-00-011.21

    Description

    This exceptional 52,416-square-foot executive office building presents a compelling owner-user opportunity in Frankfort, Kentucky. Constructed in 2002, this Class B property boasts a generous 48,322 square feet of net rentable space, spread across two stories within a single building. The asking price is $4,750,000, translating to $90.62 per square foot. Currently vacant, the building offers significant potential for immediate occupancy. Features include a welcoming lobby, multiple conference rooms, private offices, open work areas, meeting rooms, a break room, and various support spaces. The robust electrical infrastructure is well-suited for high-demand operations, such as a call center. Situated on a sizable 3.78-acre lot, the property provides ample parking with 232 spaces. The property is zoned PO-Professional Office and its APN is 036-00-00-011.21. This prime location at 653 Chamberlin Ave, Frankfort, KY 40601, offers convenient access to key amenities and infrastructure. The building's previous tenant was FEMA. This is a rare opportunity to acquire a substantial, well-equipped office building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.9202845
    Latitude
    38.1588061

    Comparable in this City

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      Mill Creek Office Park Leasing

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      Downtown Frankfort Office Leasing Opportunity

      Office space for lease in downtown Frankfort, Kentucky.
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    • $2,565,000
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      Frankfort, KY Commercial Investment

      NNN leased commercial property with income and renewal options.
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    • $600,000
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      Frankfort Office Building For Sale

      Renovated Medical/Office Space, KY
      190 Kings Daughters Dr, Frankfort, KY 40601
      View Details

    Similar Nearby for Sale

    • $2,850,275
      24,200 SF

      Frankfort Office Portfolio

      Three renovated office buildings, ideal for medical or traditional use.
      170-190 Kings Daughters Dr, Frankfort, KY 40601
      View Details
    • $1,150,000
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      Frankfort Office Building For Sale

      Renovated Medical/Office Space, 9,954 SF
      180 Kings Daughters Dr, Frankfort, KY 40601
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    • Contact for pricing
      181,300 SF

      Mill Creek Office Park Leasing

      Office park with spaces available for lease in Frankfort, KY.
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      32,260 SF

      Downtown Frankfort Office Leasing Opportunity

      Office space for lease in downtown Frankfort, Kentucky.
      209 Saint Clair St, Frankfort, KY 40601
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    • $2,565,000
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      Frankfort, KY Commercial Investment

      NNN leased commercial property with income and renewal options.
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    • $3,300,000
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      Flynn Professional Arts Building

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    Similar Nearby for Lease

    • $3,250 /Mo
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      Frankfort Office Space For Rent

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      Frankfort Office Space For Lease

      Office spaces available in Frankfort, KY, at competitive rates.
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    • New
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      Downtown Frankfort Office Space

      Prime Frankfort Office: 6,031 SF Available
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    • $15 SF/Yr
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      Office Space in Frankfort, KY

      2800 SF office space available for rent.
      601 Chamberlin Ave, Frankfort, KY 40601
      View Details
    • $1,700 /Mo
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      Professional Office Space Available

      Like-new office space with private offices and reception area.
      1120 #1 Us Hwy 127 Rd S, Frankfort, KY 40601
      View Details
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    653 Chamberlin Ave
    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
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