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

    311 Main St Frankfort, KY 40601-2867

    • Commercial real estate
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    May 04, 2022
    $635,000
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-1043231
    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

    • Wyatt Tarrant / Construction Company
    • CDR Emergency Management - Kentucky Office / Business Management Consultant
    • Keane Inc / IT Consulting Firm / (Bike/Boat/Book/etc) Store

    Property Details for 311 Main St

    Lot size
    0.74 lot acres
    Property type
    Commercial real estate
    APN
    061-24-11-006.00
    APU
    61241100600

    Description

    This Class A, 3,000 square foot executive office space is situated at 311 W Main Street in Frankfort, Kentucky, a highly visible location in the heart of downtown, just 0.2 miles from the state capital. The property, part of a larger 9,000 square foot building, offers immediate occupancy for a single tenant. The space benefits from high vehicle and pedestrian traffic, ensuring excellent exposure for your business. Its convenient location places it within walking distance of the courthouse and other government agencies, as well as numerous amenities including Hoggy's Ice Cream, Main Street Diner, B's Bakery, and Goodwood Brewing. Easy parking is available in a nearby garage for a minimal monthly fee. This is a modified gross lease, with tenants responsible for a CAM charge covering electricity, gas, water, and common area maintenance. The property is zoned GC and has APN 061-24-11-006.00 in Franklin County. This exceptional opportunity offers a blend of modern convenience and prime downtown accessibility. Don't miss this chance to establish your business in a thriving Kentucky location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Franklin
    State
    Kentucky
    Longitude
    -84.8785
    Latitude
    38.1986
    CBSA code
    23180
    CBSA name
    FRANKFORT, 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
    $3,010
    $0.00
    $0.00
    $635,000
    -
    $0.00
    $0.00
    $635,000

    Comparable in this City

    • Value Estimation by Request
      31.24 Acres

      Franklin Sq

      Land • 31.24 Acres
      0 Franklin Sq, Frankfort, KY 40601
      View Details
    • Value Estimation by Request
      0.60 Acres

      33 School House Rd

      COMMERCIAL (GENERAL) • 0.60 Acres
      33 School House Rd, Frankfort, KY 40601-9318
      View Details
    • Value Estimation by Request
      7.94 Acres

      105 Sea Hero Rd

      COMMERCIAL (GENERAL) • 7.94 Acres
      105 Sea Hero Rd, Frankfort, KY 40601-5405
      View Details
    • Value Estimation by Request
      27.00 Acres

      88 Steadmantown Ln

      COMMERCIAL (GENERAL) • 27.00 Acres
      88 Steadmantown Ln, Frankfort, KY 40601-8706
      View Details
    • Value Estimation by Request
      0.23 Acres

      506 Steele St

      COMMERCIAL (GENERAL) • 0.23 Acres
      506 Steele St, Frankfort, KY 40601-6210
      View Details
    • Value Estimation by Request
      0.34 Acres

      176 Thistlewood Ave

      COMMERCIAL (GENERAL) • 0.34 Acres
      176 Thistlewood Ave, Frankfort, KY 40601-4388
      View Details

    Similar Nearby for Sale

    • $475,000
      1.45 Acres

      US 60 Frankfort Commercial Land

      1.446 Acres, High-Traffic Location
      452 Versailles Rd, Frankfort, KY 40601
      View Details
    • $155,000
      1,260 SF

      Frankfort Commercial Building - 1260 sq ft

      Prime Frankfort location, retail/restaurant zoning. High-traffic area.
      114 Bridge St, Frankfort, KY 40601
      View Details
    • $500,000
      0.50 Acres

      Frankfort Commercial Land - 0.5 Acres

      Prime Frankfort location, high-traffic area. Ideal for diverse uses.
      100 Old Versailles Rd, Frankfort, KY 40601
      View Details
    • Contact for pricing
      45.00 Acres

      Frankfort Commercial Land - 45 Acres

      Prime KY Commercial Land, I-64 Access
      1467 Us Highway 127, Frankfort, KY 40601
      View Details
    • $580,000
      0.99 Acres

      Frankfort Commercial Property - Leased

      High-yield investment, long-term lease.
      7 Carson Pl, Frankfort, KY 40601
      View Details
    • Contact for pricing
      31.24 Acres

      Franklin Square East Commercial Land

      31 Acres, Prime Frankfort Location
      0 Franklin Sq, Frankfort, KY 40601
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      4,469 SF

      Frankfort Flex Building For Lease

      4,469 SF Flex Space, Excellent Location
      654 Versailles Rd, Frankfort, KY 40601
      View Details
    • Contact for pricing
      182,516 SF

      Frankfort KY Commercial Land for Lease

      4.19 Acres, Prime Commercial Location
      0 Capital Plz, Frankfort, KY 40601
      View Details
    • Contact for pricing
      104,386 SF

      Brighton Park Shopping Center

      Frankfort Retail Space Available
      118 Brighton Park Blvd, Frankfort, KY 40601
      View Details
    • Contact for pricing

      Commercial Parcels in Retail Corridor

      Commercial parcels available for redevelopment in a sought-after retail corridor.
      956 Louisville Rd, Frankfort, KY 40601
      View Details
    • Contact for pricing

      Commercial Parcels on Louisville Road

      Commercial parcels available for redevelopment in a retail corridor.
      919 Louisville Rd, Frankfort, KY 40601
      View Details
    • Contact for pricing

      Commercial Parcels on Louisville Road

      Commercial parcels available for redevelopment in a retail corridor.
      921 Louisville Rd, Frankfort, KY 40601
      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.
    311 Main St
    Frankfort, KY 40601-2867
    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.