Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    111 Water St Horse Cave, KY 42749

    Sponsored
    For Sale
    $249,000

    Commercial - Horse Cave, KY

    Lot size:
    0.12 Acres
    Days on Market:
    41
    Last Refresh:
    Feb 17 at 1:06 am

    Property Features for 111 Water St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    402-00-14-007.00
    Interior features
    Finished, Unfinished
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1917
    Flooring type
    Other
    Building materials
    Brick
    Roof type
    Other, See Remarks
    Architectural style
    Other

    We can help!

    Listing Contact
    John Hishmeh

    Coldwell Banker Legacy Group (270) 629-6683

    Listing agent John Hishmeh (270) 629-6683 License #214206

    Listing date Jan 8, 2026

    MLS# RA20252058 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Building on Water Street

    This historic building, constructed in 1917 and partially renovated in 2024, features frontage on Water Street. Currently operating as a venue, the property's adaptable layout is suitable for events such as weddings, parties, and corporate functions. The interior design incorporates stained wood floors, exposed brick, open spaces, and exposed ceilings. The property includes three bathrooms, changing rooms, and a kitchen equipped with a hood. There are two public bathrooms on the main floor and one full bathroom upstairs in the residential area. The building has over 9700 sq ft in its entirety, with approximately 4800 sq ft of finished space. Upstairs includes over 900 sq ft of living space. The kitchen is over 600 sq ft. The property has potential for diverse uses such as retail and/or restaurant space. Located in Horse Cave, KY, the property is situated downtown, providing access to local shops, restaurants, and other amenities. It is centrally located between Elizabethtown and Bowling Green, minutes from the interstate, and near Mammoth Cave National Park and the Hidden River Cave Museum. The lot size is 0.12 acres. The property has 43 feet of frontage on Water Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Hart County Florist

    Location Insight

    • Map
    • Local Demand
    City
    Horse Cave
    County
    Hart
    State
    Kentucky
    Longitude
    -85.9063741
    Latitude
    37.1798547

    Nearby Similar for Sale

    • $329,950
      2,652 SF

      Horse Cave Farm with Barn

      Spacious home on 2.98 acres with detached garage.
      698 Rowletts Rd, Horse Cave, KY 42749
      View Details
    • New
      $180,000
      0.46 Acres

      Car Wash and Garage Facility

      Versatile car wash and garage on 0.467-acre lot.
      200 S Dixie Hwy, Horse Cave, KY 42749
      View Details
    • $164,900
      0.06 Acres

      Spacious Downtown Commercial Building

      Versatile commercial building in downtown Horse Cave, Kentucky.
      103 Water St, Horse Cave, KY 42749
      View Details
    • New
      $525,000
      12,000 SF

      Historic Downtown Horse Cave Opportunity

      Luxury loft with retail space in historic downtown Horse Cave.
      123 Water St, Horse Cave, KY 42749
      View Details
    • $234,999
      0.49 Acres

      Commercial Property with Warehouse and Showroom

      Commercial property featuring warehouse, showroom, office, and restroom near amenities.
      1370 S Dixie St, Horse Cave, KY 42749
      View Details
    • $124,000
      2,000 SF

      Turnkey Restaurant Opportunity in Kentucky

      Ready-to-go restaurant for sale in Uno, Kentucky with equipped kitchen.
      5112 S Jackson Hwy, Horse Cave, KY 42749
      View Details
    • $1,750,000
      5.57 Acres

      Former Truck Refueling Station Site

      Former truck refueling station at growing I-65 interchange in Horse Cave.
      615 Flint Ridge Rd, Horse Cave, KY 42749
      View Details
    • $2,990,000
      33,802 SF

      Kentucky Hotel Investment Opportunity

      77-key Hotel in Cave Country, KY
      425 Flint Ridge Rd, Horse Cave, KY 42749
      View Details

    FAQs

    What type of property is this?
    Storefront property - Historic building with prime frontage, suitable for venue, retail, restaurant.
    Where is this storefront property located?
    The property is located at 111 Water St Horse Cave, KY.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Prime downtown Water Street frontage (43 feet) offering excellent visibility and foot traffic.; - Spacious and adaptable layout (9700+ sq ft total, 4800 sq ft finished) suitable for diverse uses.; - Partially renovated in 2024, blending historic charm with modern amenities.
    (270) 218-0074
    Request Owner's contact information
    111 Water St Horse Cave, KY 42749
    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.
    111 Water St
    Horse Cave, KY 42749
    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
    111 Water St Horse Cave, KY 42749
    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

    We can help!
    Listing Contact
    John Hishmeh
    Real Estate License ID: 214206
    (270) 218-0074 (270) 629-6683
    Learn more
    Google sign-in failed. Please try again or use another login method.