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    4097 Nichols Park Dr Lexington, KY 40503-4428
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    Property profile & analytics

    4097 Nichols Park Dr Lexington, KY 40503-4428

    View on Map
    • Strip malls
    • 9,869 SF
    • 1.35 lot acres
    Off-Market
    Property ID
    US34-0651623
    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

    • Dr. Valerie R. Justice, DMD / Dental Office
    • Dr. Wesley E. Denny, DMD / Dental Office
    • KY Liquor / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Citizens Commerce Bank / Bank / Loan Service
    • Lexington Urgent Care - Nichols Park Dr. / Medical Clinic

    Property Details for 4097 Nichols Park Dr

    Year built
    2002
    Lot size
    1.35 lot acres
    Property size
    9,869 SF
    Zone code
    B-3
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    38005590
    APU
    38005590

    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
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5343
    Latitude
    37.9784
    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
    $27,205
    $0.00
    $0.00
    $2,200,000
    -
    $0.00
    $0.00
    $2,200,000

    Comparable in this City

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      11,840 SF

      2380 Norman Ln

      SHOPPING CENTER, STRIP CENTER • 11,840 SF
      2380 Norman Ln, Lexington, KY 40503-3011
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    • Value Estimation by Request
      24,900 SF

      3330 Partner Pl, Unit 3344

      SHOPPING CENTER, STRIP CENTER • 24,900 SF
      3330 Partner Pl, Lexington, KY 40503-3575
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      26,250 SF

      306 Southland Dr

      SHOPPING CENTER, STRIP CENTER • 26,250 SF
      306 Southland Dr, Lexington, KY 40503-1825
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    • Value Estimation by Request
      6,440 SF

      1915 Nicholasville Rd, Unit 1919

      SHOPPING CENTER, STRIP CENTER • 6,440 SF
      1915 Nicholasville Rd, Lexington, KY 40503-2043
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    • Value Estimation by Request
      25,300 SF

      3323 Partner Pl

      SHOPPING CENTER, STRIP CENTER • 25,300 SF
      3323 Partner Pl, Lexington, KY 40503-3505
      View Details
    • Value Estimation by Request
      21,873 SF

      1983 Harrodsburg Rd, Unit 1999

      SHOPPING CENTER, STRIP CENTER • 21,873 SF
      1983 Harrodsburg Rd, Lexington, KY 40503-1254
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Center on Nicholasville Road

      Retail spaces available in a high-traffic shopping center.
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      West Zandale Plaza Retail/Office Center

      Retail/office center on 1.29 acres near hospitals and universities.
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      New Retail Space at Venue

      New retail space in Lexington's high-traffic retail corridor.
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    • $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
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    • New
      $199,999
      771 SF

      Nicholasville Road Commercial Suite

      771 sq ft commercial suite on high-traffic Nicholasville Road.
      2121 Nicholasville Rd, Lexington, KY 40503
      View Details
    • Contact for pricing

      Retail Suite in Ruccio Pavilion

      Retail suite in a family-friendly location near Lexington's busiest areas.
      220 Ruccio Way, Lexington, KY 40503
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Regency Centre

      Retail space strategically located between Fayette Mall and University of Kentucky.
      2325 Nicholasville Rd, Lexington, KY 40503
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      Zandale Shopping Center Office Space

      8000 SF vacant space in established shopping center.
      2220 Nicholasville Rd, Lexington, KY 40503
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      Retail/Office Center For Lease

      Retail/office center for lease in high-traffic area.
      151 W Zandale Dr, Lexington, KY 40503
      View Details
    • Contact for pricing

      Retail and Office Center

      Retail/office center in Lexington with strong residential support.
      3330 Partner Pl, Lexington, KY 40503
      View Details
    • $21 SF/Yr
      12,325 SF

      Retail Space in Lexington, KY

      Retail space for lease in a high-traffic Lexington location.
      120 W Tiverton Way, Lexington, KY 40503
      View Details
    • $22 SF/Yr
      21,780 SF

      Clays Mill Road Development Site

      Lexington, KY commercial land, 0.5 acres
      3326 Clays Mill Rd, Lexington, KY 40503
      View Details

    Property Visit Statistics

    • Visits by month
      2.6k
    • Visitors by month
      2.8k
    • Avg Time on site
      40 min
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    Lexington, KY 40503-4428
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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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