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    156 Frankfort St Versailles, KY 40383
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    Property profile & analytics

    156 Frankfort St, Versailles, KY 40383

    View on Map
    • Commercial real estate
    • 3,029 SF
    • 0.32 lot acres
    Off-Market
    Property ID
    US34-1156212
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Quillen Eric L DDS / Dental Office
    • Quillen Orthodontics / Dental Office
    • Simpson's Pet Grooming / Pet Grooming Service

    Property Details for 156 Frankfort St

    Lot size
    0.32 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3,029 square foot commercial property is situated on Frankfort Street in Versailles, Kentucky, a highly visible main corridor connecting the city's central business district to US 60 and major highway arteries including US 62 and I-64. This strategic location provides easy access to both Frankfort and Lexington. The property sits on a 0.32-acre lot and is zoned B-4 Highway Business District, allowing for a variety of uses. Permitted uses include retail establishments, small service businesses, drugstores, hardware stores, professional offices, and banks. Currently, the property boasts two tenants: an orthodontist office occupying the front space and a pet spa located in the rear. The B-4 zoning designation is highly sought after and properties with this zoning are rarely available. This presents a unique opportunity for investors or business owners seeking a well-located, versatile commercial space with existing income streams. The asking price for this turnkey operation is $395,000. This property offers excellent visibility and accessibility, making it an ideal investment for a variety of commercial ventures. Don't miss this chance to acquire a prime commercial property in a thriving Kentucky community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Versailles
    County
    Woodford
    State
    Kentucky
    Longitude
    -84.73186
    Latitude
    38.05964

    Comparable in this City

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      Versailles KY Industrial Land Opportunity

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      Versailles Land for Residential Development

      2.4 acre residential land with road frontage in Versailles, KY.
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    • New
      $499,900
      11.13 Acres

      Rural Hobby Farm Acreage

      11.128+/- acres with a barn, mature trees, and a scenic creek bed for flexible countryside use.
      7950 Mccowans Ferry Rd, Versailles, KY 40383
      View Details

    Similar Nearby for Sale

    • $922,000
      4.32 Acres

      Versailles KY Industrial Land Opportunity

      4.32 Acres, I1 Zoning, High Development Potential
      305 Kentucky Ave, Versailles, KY 40383
      View Details
    • $345,000
      Pending

      Versailles, KY Building Lot

      Building lot near town, backs to golf course.
      250 Mcfall Ln, Versailles, KY 40383
      View Details
    • Contact for pricing

      Versailles Agricultural Land for Development

      75.98 acres of agricultural land ideal for development.
      1740 Troy Pike, Versailles, KY 40383
      View Details
    • $180,000
      2.40 Acres

      Versailles Land for Residential Development

      2.4 acre residential land with road frontage in Versailles, KY.
      9 Fords Mill Rd, Versailles, KY 40383
      View Details
    • New
      $499,900
      11.13 Acres

      Rural Hobby Farm Acreage

      11.128+/- acres with a barn, mature trees, and a scenic creek bed for flexible countryside use.
      7950 Mccowans Ferry Rd, Versailles, KY 40383
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Versailles Shopping Center Space Available

      Retail and office spaces for lease in Woodford Plaza.
      480 Lexington Rd, Versailles, KY 40383
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    • Contact for pricing

      Versailles Outlot on Lexington Road

      0.914 AC outlot on US 60 for sale/ground lease.
      3620 Lexington Rd, Versailles, KY 40383
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    • $10 SF/Yr
      9,250 SF

      Versailles Office and Warehouse Space

      9,250 SF office and warehouse space available for lease.
      250 Crossfield Dr, Versailles, KY 40383
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    • Contact for pricing

      Versailles Outlot on Lexington Road

      0.914 AC outlot for sale or ground lease.
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      101,217 SF

      Versailles Industrial Property for Rent

      Industrial space available for lease in Versailles, Kentucky.
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    • Contact for pricing

      Highway 60 Accessible Fenced Site

      Located on Highway 60 with rail infrastructure and fenced site.
      900 Tyrone Pike, Versailles, KY 40383
      View Details
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    156 Frankfort St
    Versailles, KY 40383
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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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