Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2000-2236 Paris By-Pass Paris, KY 40361
    Back to Search
    Property profile & analytics

    2000-2236 Paris By-Pass, Paris, KY 40361

    View on Map
    • Retail properties & Spaces
    • 120,784 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2000-2236 Paris By-Pass

    Property type
    Retail properties & Spaces

    Description

    This single-story, 120,784 square foot shopping center in Paris, Kentucky, offers exceptional retail space. Currently, 17,624 square feet is available, divisible into units ranging from 1,200 to 14,024 contiguous square feet. The center boasts a strong anchor tenant, Save-A-Lot Grocery, and is complemented by co-tenants including Fastenal, H&R Block, and Subway. Its strategic location on the Paris By-Pass (2000-2236) benefits from high visibility and an average daily traffic count of 14,500 vehicles (as of 2019). Nearby, you'll find other major retailers such as Tractor Supply and a Walmart Supercenter, further enhancing the area's retail draw. The property features ample parking and marquee signage opportunities. Zoned 026-00-00-044.00 in Bourbon County, this center presents a prime opportunity for businesses seeking high-traffic exposure in a thriving community. Potential exists for outlot development via ground lease or build-to-suit options. The city of Paris, known as the "Thoroughbred Capital of the World," is conveniently located just 15 minutes northeast of Lexington. This property is situated in a high-traffic area with excellent visibility and ample parking.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Bourbon
    State
    Kentucky
    Longitude
    -84.2586
    Latitude
    38.2255

    Comparable in this City

    • Value Estimation by Request
      3,726 SF

      200 Letton Dr

      Individual retail properties
      200 Letton Dr, Paris, KY 40361
      View Details
    • Value Estimation by Request
      5.00 Acres

      Jackstown Rd

      VACANT COMMERCIAL LAND
      Jackstown Rd, Paris, KY 40361
      View Details
    • Value Estimation
      $605,000
      4.35 Acres

      305 Letton Dr

      COMMERCIAL (GENERAL)
      305 Letton Dr, Paris, KY 40361-2252
      View Details
    • Value Estimation by Request
      69.74 Acres

      7001 Martin Luther King Jr Blvd

      COMMERCIAL (GENERAL)
      7001 Martin Luther King Jr Blvd, Paris, KY 40361-2147
      View Details
    • Value Estimation by Request

      Pleasant St

      VACANT COMMERCIAL LAND
      Pleasant St, Paris, KY 40361
      View Details
    • Value Estimation by Request

      926 Pleasant St

      VACANT COMMERCIAL LAND
      926 Pleasant St, Paris, KY 40361-1736
      View Details

    Similar Nearby for Sale

    • $299,000
      0.68 Acres

      Prime Commercial Land Opportunity

      High-visibility commercial land in Paris, Kentucky, with growth potential.
      195 Bethlehem Rd, Paris, KY 40361
      View Details
    • $750,000
      3,066 SF

      Paris, KY Mixed-Use Property

      Highly visible mixed-use property with retail and apartment spaces.
      5761 Lexington Rd, Paris, KY 40361
      View Details
    • Contact for pricing
      3,726 SF

      Fast Pace Health Investment Opportunity

      NNN leased Fast Pace Health in Paris, KY for sale.
      200 Letton Dr, Paris, KY 40361
      View Details
    • Contact for pricing

      Paris Village Shopping Center For Sale

      120,784 SF shopping center anchored by Save-A-Lot Grocery.
      2000-2236 Paris By-Pass, Paris, KY 40361
      View Details
    • New
      $39,000
      1.00 Acre

      Bourbon County 1-Acre Homesite

      Rare 1-acre lot in rural Bourbon County with scenic views.
      1 Gillispie Rd, Paris, KY 40361
      View Details
    • $60,000
      1,778 SF

      Country Church in Paris, KY

      Unique church property available for sale in Paris, Kentucky.
      3052 Cane Ridge Rd, Paris, KY 40361
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2000-2236 Paris By-Pass
    Paris, KY 40361
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2000-2236 Paris By-Pass, Paris, KY, 40361
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!