Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    306 Skywatch Dr Danville, KY 40422-2541

    • Car washes
    • 5,400 SF
    • 0.65 lot acres
    OFF-MARKET
    Last Sale
    Oct 18, 2024
    $700,000
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-1237950
    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

    • Car Express Wash / Car Wash / Promotional Products Supplier

    Property Details for 306 Skywatch Dr

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.65 lot acres
    Property size
    5,400 SF
    Property type
    Car washes
    APN
    D17-011-011
    APU
    D17011011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $700,000
      ML approach
      $700,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $525,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Boyle
    State
    Kentucky
    Longitude
    -84.7872
    Latitude
    37.6173
    CBSA code
    19220
    CBSA name
    DANVILLE, KY MICROPOLITAN 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
    $51
    $0.00
    $0.00
    $1,000,000
    -
    $0.00
    $0.00
    $1,000,000

    Comparable in this City

    • Value Estimation by Request
      5,132 SF

      101 Thoroughbred Dr

      CAR WASH • 5,132 SF
      101 Thoroughbred Dr, Danville, KY 40422-1344
      View Details
    • Value Estimation by Request
      1,896 SF

      550 Lexington Ave

      CAR WASH • 1,896 SF
      550 Lexington Ave, Danville, KY 40422-1558
      View Details
    • Value Estimation by Request
      768 SF

      3646 Southtown Dr

      CAR WASH • 768 SF
      3646 Southtown Dr, Danville, KY 40422
      View Details
    • Value Estimation by Request
      2,952 SF

      4041 Lexington Rd

      SERVICE STATION (FULL SERVICE) • 2,952 SF
      4041 Lexington Rd, Danville, KY 40422-9074
      View Details
    • Value Estimation by Request
      2,970 SF

      1122 Stanford Rd

      AUTO REPAIR, GARAGE • 2,970 SF
      1122 Stanford Rd, Danville, KY 40422-8341
      View Details
    • Value Estimation by Request
      2,350 SF

      60 Bluegrass Pike

      SERVICE STATION (FULL SERVICE) • 2,350 SF
      60 Bluegrass Pike, Danville, KY 40422-9290
      View Details

    Similar Nearby for Sale

    • $479,999
      3,776 SF

      Versatile Commercial Property with Income

      Commercial property with garage, apartment, storage, and high visibility.
      1620 Shakertown Rd, Danville, KY 40422
      View Details
    • $170,000
      0.52 Acres

      Danville Commercial Property with Garage

      Commercial property with four garage doors and ample parking.
      1121 Stanford Rd, Danville, KY 40422
      View Details
    • $52,500
      1,258 SF

      Danville Commercial Property for Sale

      Commercial property in Danville, Kentucky, with redevelopment potential.
      222 Stanford Rd, Danville, KY 40422
      View Details
    • $419,800
      0.84 Acres

      Danville Commercial Building For Sale

      2880 SF building on a busy street in Danville.
      1125 Stanford Rd, Danville, KY 40422
      View Details
    • Contact for pricing

      Retail Center Anchored by Save-A-Lot

      Neighborhood retail center with ample parking and high traffic.
      1075 East Lexington Rd, Danville, KY 40422
      View Details
    • $875,000
      5,700 SF

      Danville Mixed-Use Commercial Property

      Three-story commercial property with restaurant, banquet room, and apartment.
      303 W Main St, Danville, KY 40422
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,950 SF

      Retail Space Near Major Retailers

      Retail space available near Walmart, Lowe's, Kroger, and Office Depot.
      1560 Hustonville Rd, Danville, KY 40422
      View Details
    • $2,000 /Mo
      1,700 SF

      Danville Office Space For Lease

      Office space with teller stations, vault, and drive-thru.
      198 W Broadway St, Danville, KY 40422
      View Details
    • $1,500 /Mo
      1,600 SF

      Visible Commercial Suite in Danville

      Highly visible commercial suite suitable for retail or office use.
      1015 Hustonville Rd Unit, Danville, KY 40422
      View Details
    • Contact for pricing
      113,234 SF

      Prime Boyle County Industrial Space

      113,234 SF Manufacturing/Warehouse
      1711 Danville Byp, Danville, KY 40422
      View Details
    • $60,000
      3,570 SF

      Danville Office Space For Rent

      Office space available for rent in Danville, Kentucky.
      120 E Main St, Danville, KY 40422
      View Details
    • Contact for pricing

      Commercial Land Near Retailers

      Commercial land for rent near major retailers and Centre College.
      S Danville Byp, Danville, KY 40422
      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.
    306 Skywatch Dr
    Danville, KY 40422-2541
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.