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

    3098 Harrodsburg Rd Lexington, KY 40503

    • Banks
    • 2,811 SF
    • 0.55 lot acres
    For Lease
    View listing
    $26 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0600583
    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

    • WesBanco Bank / Bank / Financial Consultant
    • Janet Beard - WesBanco Mortgage Lending Officer / Mortgage Lender
    • WesBanco Bank - ATM / Atm

    Property Details for 3098 Harrodsburg Rd

    Year built
    2004
    Lot size
    0.55 lot acres
    Property size
    2,811 SF
    Zone code
    P-1
    Property type
    Banks
    APN
    24304900
    APU
    24304900

    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
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.557
    Latitude
    38.0114
    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
    $12,007
    $0.00
    $0.00
    $971,000
    -
    $0.00
    $0.00
    $971,000

    Comparable in this City

    • Value Estimation by Request
      3,375 SF

      2510 Nicholasville Rd

      FINANCIAL BUILDING • 3,375 SF
      2510 Nicholasville Rd, Lexington, KY 40503-3306
      View Details
    • Value Estimation by Request
      7,904 SF

      761 Corporate Dr

      FINANCIAL BUILDING • 7,904 SF
      761 Corporate Dr, Lexington, KY 40503-2751
      View Details
    • Value Estimation by Request
      5,778 SF

      1721 Nicholasville Rd

      FINANCIAL BUILDING • 5,778 SF
      1721 Nicholasville Rd, Lexington, KY 40503-1428
      View Details
    • Value Estimation by Request
      2,616 SF

      501 Southland Dr

      FINANCIAL BUILDING • 2,616 SF
      501 Southland Dr, Lexington, KY 40503-1828
      View Details
    • Value Estimation by Request
      5,152 SF

      370 Meijer Way

      FINANCIAL BUILDING • 5,152 SF
      370 Meijer Way, Lexington, KY 40503-3340
      View Details
    • Value Estimation by Request
      2,144 SF

      140 Southland Dr

      FINANCIAL BUILDING • 2,144 SF
      140 Southland Dr, Lexington, KY 40503-1935
      View Details

    Similar Nearby for Sale

    • $1,290,000
      11,903 SF

      Nicholasville Road Bank Branch

      11,903 SF bank branch on 1.05 AC for sale.
      2020 Nicholasville Rd, Lexington, KY 40503
      View Details
    • Contact for pricing

      Retail Space Near Fayette Mall

      Retail spaces for sale near Fayette Mall in Lexington, KY.
      3851 Mall Rd, Lexington, KY 40503
      View Details
    • $799,000
      0.47 Acres

      Commercial Corner Lot on Southland

      Corner lot on a busy corridor, suitable for various businesses.
      216 Southland Dr, Lexington, KY 40503
      View Details
    • New
      $2,475,000
      Pending

      Retail/Flex Building on Regency Road

      14,400 SF retail/flex building for sale in Lexington, KY.
      2550 Regency Rd, Lexington, KY 40503
      View Details
    • Contact for pricing

      Retail Outlots in Lexington Center

      Retail/office center with outlots and leasing opportunities available.
      3330 Keithshire Way, Lexington, KY 40503
      View Details
    • $269,000
      771 SF

      Prime Commercial Suite on Nicholasville Road

      771 sq ft suite in high-traffic Lexington corridor.
      2121 Nicholasville Rd Unit, Lexington, KY 40503
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      2,811 SF

      Former Bank Branch on Harrodsburg

      2,811 SF Lexington property suitable for bank or professional use.
      3098 Harrodsburg Rd, Lexington, KY 40503
      View Details
    • $10 SF/Yr
      104,974 SF

      Keithshire Place: Lexington Office Space

      Prime Lexington Office & Retail Center
      3320 Partner Pl, Lexington, KY 40503
      View Details
    • $22 SF/Yr
      18,394 SF

      Lexington Retail Suite For Lease

      High-visibility retail space in prime Lexington location.
      220 Ruccio Way, Lexington, KY 40503
      View Details
    • $30 SF/Yr
      5,300 SF

      Lexington Retail Space: The Venue

      New retail space, 1,500-5,300 SF, high traffic area.
      120 Malabu Dr, Lexington, KY 40503
      View Details
    • $2,500 /Mo
      771 SF

      Prime Commercial Suite on Nicholasville

      Move-in ready 771 sq ft suite in Continental Tower.
      2121 Nicholasville Rd Unit, Lexington, KY 40503
      View Details
    • $25 SF/Yr
      12,325 SF

      Lexington Retail Space Available

      Retail property available for lease in Lexington, Kentucky.
      120 W Tiverton Way, Lexington, KY 40503
      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.
    3098 Harrodsburg Rd
    Lexington, KY 40503
    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.