NNN Office
For Sale
$409,900
162 E Somerset Church Road, Somerset, KY 42503
COMMERCIAL - Somerset, KY
Property Size2,960 SF
Lot Size0.60 Acres
Price / SF$138.48
Days on Market347
Property Features for 162 E Somerset Church Road
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
Rural
Directions
From Hwy 80, make a right on HWY 39 N, take a right on E Somerset Church Rd. Building on the right
Standard status
Active
APN
060-9-1-55.1
Size
2,960 SF
Lot size
0.60 Acres
Building Details
Year built
2000
Floors in Building
1
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
(606) 679-2656
Listed By:
Cassandra Akin · License #273503
(859) 948-7537
Added: Sep 4, 2025
Changed: Aug 4
Last Checked: Aug 16 at 10:06AM
MLS# 25500401
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office building contains 2,960 square feet on a 0.6-acre site and was built in 2000. The property is currently leased under a triple-net structure, with two years remaining on the lease term. Ample on-site parking supports the existing office use.
Located just off Highway 39 in Somerset, the property offers access to a primary roadway and is positioned within the 42503 postal area. The existing lease and established building configuration provide a straightforward office asset for review.
Located just off Highway 39 in Somerset, the property offers access to a primary roadway and is positioned within the 42503 postal area. The existing lease and established building configuration provide a straightforward office asset for review.
Key Highlights
- 2,960‑square‑foot office building on a 0.6‑acre site
- Built in 2000
- Current triple‑net lease with two years remaining
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,179
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,580
$523.6K
Cap Rate 7%
$373,986
$374.0K
Cap Rate 9%
$290,878
$290.9K
Market Conditions
NOI Build-Up for 2,960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.5K $13.68/SF
− Vacancy
−$5.6K −$1.89/SF
EGI
$34.9K $11.79/SF
− OpEx
−$8.7K −$2.95/SF
NOI
$26.2K $8.84/SF
Area
Pulaski County, KY
Vacancy
13.80%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,580
Cap Rate 7%
$373,986
Cap Rate 9%
$290,878
Alternative Uses
Best Use
Office B
$374.0K
$327.2K – $436.3K
NOI $26,179 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$504.3K
$441.3K – $588.3K
NOI $35,300 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Occupied office property with a remaining triple-net lease term and convenient highway access.
Where is this office building located?
The property is located at 162 E Somerset Church Road Somerset, KY.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: 2,960‑square‑foot office building on a 0.6‑acre site; Built in 2000; Current triple‑net lease with two years remaining
