38 Public Square East Mt. Vernon Street, Somerset, KY 42501
- Added:
- Nov 3, 2025
- Days on Market:
- 236
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 38 Public Square East Mt. Vernon Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-1C
- Security features
- Security System
- Standard status
- Active
- APN
- 061-7-1-03
- Size
- 5,000 SF
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Zoned, Heat Pump (Heating), Natural Gas
- Cooling system
- Multi Units, Heat Pump, Gas (Cooling), Ceiling Fan(s)
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Rubber
Listing agent Kathy Price Sears License #192818 (606) 875-2120
Listing office CENTURY 21 Advantage Realty 3765 S Hwy 27, Somerset, KY (606) 451-1021
Listing date Nov 3, 2025
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.
HighLights
- Brick, two‑story commercial building with 5,000 SF and rubber roof
- Fully renovated with new HVAC, new electric/lighting, new plumbing, and new flooring on both levels
- Second level includes kitchenette with 3‑compartment sink and grease trap
- ADA‑compliant restrooms plus elevator lift installed for accessibility
- Two separate entrances for dual business, mixed‑use, or multiple tenants
- Utilities include water available; served by public sewer and includes natural gas and heat pump heating
Overview
The property is positioned directly on the square in downtown Somerset, Kentucky, on Public Square East at the Mt. Vernon Street side. The offering is described as providing strong visibility with hundreds of cars passing by daily. The downtown setting also ties the building to tourism and annual city festivals.
Tenant and operator fit is supported by the building’s versatility. In addition to the two-entrance configuration, the second level includes a full kitchenette with a 3-compartment sink and a grease trap, which can support food service, events, or other related uses that require that kind of infrastructure. With the extensive renovation scope and accessibility upgrades already in place, the space is presented as ready for an owner-user or a multi-tenant plan.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.2k | $16.44 |
| − Vacancy | −$2.7k | −$0.54 |
| EGI | $79.5k | $15.90 |
| − OpEx | −$19.9k | −$3.98 |
| NOI | $59.6k | $11.93 |
Alternative Uses
Current Use by Public Records
Map
- City
- Somerset
- County
- Pulaski
- State
- Kentucky
- Longitude
- -84.604419
- Latitude
- 37.092684
