Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    559 Forbes Rd Lexington, KY 40504-1149

    • Warehouses
    • 121,768 SF
    • 11.08 lot acres
    OFF-MARKET
    Value Estimations
    $9,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0427611
    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

    • G&J Pepsi-Cola / Big Box & Wholesale Store / Distribution Center
    • Pepsi Cola Bottling / Industrial Manufacturer / Production Facility

    Property Details for 559 Forbes Rd

    Year built
    1978
    Lot size
    11.08 lot acres
    Property size
    121,768 SF
    Zone code
    I-1
    Property type
    Warehouses
    APN
    13224200
    APU
    13224200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,116,000
      Market price range: $8.78M - $42.6M
      AI Estimate
      $9,116,000
      Market price range: $8.78M - $42.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.5245
    Latitude
    38.0509
    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
    $60,593
    $0.00
    $0.00
    $4,900,000
    -
    $0.00
    $0.00
    $4,900,000

    Comparable in this City

    • Value Estimation
      $640,000
      1,830 SF

      1798 Old Frankfort Pike

      WAREHOUSE, STORAGE • 1,830 SF
      1798 Old Frankfort Pike, Lexington, KY 40504-1010
      View Details
    • Value Estimation
      $1,885,000
      15,814 SF

      1300 Cahill Dr

      WAREHOUSE, STORAGE • 15,814 SF
      1300 Cahill Dr, Lexington, KY 40504-1164
      View Details
    • Value Estimation
      $1,510,000
      20,931 SF

      760 Westland Dr, Unit 768

      WAREHOUSE, STORAGE • 20,931 SF
      760 Westland Dr, Lexington, KY 40504-1016
      View Details
    • Value Estimation by Request
      2,155 SF

      305 Broadway Park

      WAREHOUSE, STORAGE • 2,155 SF
      305 Broadway Park, Lexington, KY 40504-2608
      View Details
    • Value Estimation
      $1,825,000
      24,926 SF

      1562 Old Frankfort Pike

      WAREHOUSE, STORAGE • 24,926 SF
      1562 Old Frankfort Pike, Lexington, KY 40504-1154
      View Details
    • Value Estimation by Request
      3,496 SF

      431 Nelms Ave

      WAREHOUSE, STORAGE • 3,496 SF
      431 Nelms Ave, Lexington, KY 40504-2625
      View Details

    Similar Nearby for Sale

    • $385,000
      0.32 Acres

      Lexington Commercial Land - $385K

      0.32-acre lot, prime Lexington location.
      381 Legion Dr, Lexington, KY 40504
      View Details
    • $149,900
      0.43 Acres

      Residential Lot in Lexington, KY

      Residential land for sale in a desirable Lexington neighborhood.
      4157 John Alden Ln, Lexington, KY 40504
      View Details
    • $1,650,000
      7,060 SF

      Lexington Commercial Property for Sale

      Commercial property in Lexington, KY, featuring 7,060 square feet.
      395 Elaine Dr, Lexington, KY 40504
      View Details
    • $1,000,000
      0.88 Acres

      Mobile Home Park Investment Opportunity

      Stabilized 15-pad mobile home park in a growing Kentucky market.
      1406 Versailles Rd, Lexington, KY 40504
      View Details
    • New
      $500,000
      Pending

      Lexington Multifamily Investment Opportunity

      Four-unit property in Lexington, Kentucky, with strong rental demand.
      115 Delmont Dr, Lexington, KY 40504
      View Details
    • $1,350,000
      1,217 SF

      Lexington Executive Office Condos

      Prime location, multiple suites available
      1218 Broadway, Lexington, KY 40504
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      30,431 SF

      Forbes Business Center Storage Warehouses

      Storage warehouses and renovated offices for lease in Lexington, KY.
      255 S Forbes Rd Unit, Lexington, KY 40504
      View Details
    • $400 /Mo
      4,454 SF

      Lexington Commercial Basement Storage

      Basement storage available for lease in Lexington, Kentucky.
      763 Lane Allen Rd, Lexington, KY 40504
      View Details
    • $8 SF/Yr
      10,080 SF

      705 Werne Dr

      Distribution centers • 10,080 SF
      705 Werne Dr, Lexington, KY 40504
      View Details
    • $23 SF/Yr
      2,808 SF

      Lexington Office Building For Lease

      Fully vacant, 2808 sq ft office space.
      1216 Broadway, Lexington, KY 40504
      View Details
    • $18 SF/Yr
      1,180 SF

      Lexington Retail Space - 1180 SF

      High-traffic retail space, ready for lease.
      395 Elaine Dr, Lexington, KY 40504
      View Details
    • $21 SF/Yr
      23,922 SF

      Lexington Office Building for Lease

      Prime Medical/Office Space in Lexington, KY
      993 Mason Headley Rd, Lexington, KY 40504
      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.
    559 Forbes Rd
    Lexington, KY 40504-1149
    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.
    Sign Up Successful!
    You now have access to more from Realmo!