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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1002 Park Central Ave Nicholasville, KY 40356-8073

    • Industrial properties
    • 4,200 SF
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0365327
    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

    • J & J Development Co / Real Estate Developer / Office Space Rental Agency

    Property Details for 1002 Park Central Ave

    Year built
    1988
    Property size
    4,200 SF
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    067-00-00-144.00
    APU
    67000014400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $277,000
      Market price range: $244k - $708k
      AI Estimate
      $201,000
      Market price range: $137k - $504k

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

    Location Insight

    • Map
    • Local Demand
    City
    Nicholasville
    County
    Jessamine
    State
    Kentucky
    Longitude
    -84.547
    Latitude
    37.9357
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,039
    $50,000
    $142,000
    $192,000
    -
    $50,000
    $142,000
    $192,000

    Comparable in this City

    • Value Estimation
      $260,000
      1.00 Acre

      2nd St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1.00 Acre
      2nd St, Nicholasville, KY 40356
      View Details
    • Value Estimation
      $775,000
      24,079 SF

      977 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 24,079 SF
      977 Main St, Nicholasville, KY 40356-2151
      View Details
    • Value Estimation
      $220,000
      1,209 SF

      602 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,209 SF
      602 Main St, Nicholasville, KY 40356-1026
      View Details
    • Value Estimation
      $280,000
      1,944 SF

      216 Maple St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,944 SF
      216 Maple St, Nicholasville, KY 40356-1243
      View Details
    • Value Estimation
      $215,000
      3,078 SF

      210 Maple St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3,078 SF
      210 Maple St, Nicholasville, KY 40356-1592
      View Details
    • Value Estimation
      $300,000
      2,240 SF

      Oak St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 2,240 SF
      Oak St, Nicholasville, KY 40356
      View Details

    Similar Nearby for Sale

    • $990,000
      9.00 Acres

      Nicholasville Industrial Land

      9 Acres, Industrial Zoning, $990,000
      0 John C Watts Dr, Nicholasville, KY 40356
      View Details
    • $1,895,000
      17,359 SF

      Nicholasville Industrial Facility For Sale

      17,359 SF industrial facility built in 2022 on 1 AC.
      160 Zakk Ct, Nicholasville, KY 40356
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    • Contact for pricing
      834,160 SF

      Southeastern US Self-Storage Portfolio

      Institutional-quality self-storage portfolio in Kentucky, South Carolina, and Florida.
      137 Imperial Way, Nicholasville, KY 40356
      View Details
    • Contact for pricing

      Nicholasville Warehouse/Flex Space Available

      7,000 SF warehouse with 3,500 SF office/storage space.
      133 Macarthur Ct, Nicholasville, KY 40356
      View Details
    • $365,000

      Office/Warehouse Condos Near Lexington

      Office/warehouse condos for sale near Lexington and Nicholasville.
      121 Dewey Dr, Nicholasville, KY 40356
      View Details
    • Contact for pricing

      Nicholasville Manufacturing/Warehouse Facility For Sale

      124,279 SF manufacturing/warehousing facility on 18 acres.
      101 Etter Dr, Nicholasville, KY 40356
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      24,000 SF

      Nicholasville Industrial Flex Space

      Prime Lexington Submarket, 18,000 SF Available
      0 Main St, Nicholasville, KY 40356
      View Details
    • $12 SF/Yr
      7,500 SF

      Nicholasville Flex Warehouse Space

      New flex warehouse buildings designed for modern, scalable businesses.
      3177 Catnip Hill Rd, Nicholasville, KY 40356
      View Details
    • New
      $11 SF/Yr
      10,908 SF

      Nicholasville Flex/Industrial Space For Rent

      Versatile flex/industrial space with showroom, office, and warehouse.
      107-109 Means Dr, Nicholasville, KY 40356
      View Details
    • $22 SF/Yr
      10,452 SF

      Nicholasville Medical Office Space

      Class A medical office suites available.
      0 Brannon Rd, Nicholasville, KY 40356
      View Details
    • Contact for pricing
      11,708 SF

      Nicholasville KY Commercial Property

      Versatile Office & Retail Space, 5 Suites Available
      802 Brannon Rd, Nicholasville, KY 40356
      View Details
    • $425 /Mo

      Downtown Nicholasville Office Suites Available

      Individual office suites for lease in downtown Nicholasville, Kentucky.
      205 W Oak St, Nicholasville, KY 40356
      View Details
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    1002 Park Central Ave
    Nicholasville, KY 40356-8073
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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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