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    Versatile Commercial Property in Scottsville Title is generated by Realmo AI

    509 E Main Street, Scottsville, KY 42164

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    Claim this Listing
    For Sale
    $449,900

    Commercial - Scottsville, KY

    Lot size:
    0.40 Acres
    Added:
    Jul 14, 2025
    Days on Market:
    317
    Last Refresh:
    May 26 at 6:06 pm

    Property Features for 509 E Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Interior features
    Finished, Unfinished, Office Space
    Standard status
    Active
    APN
    4-24-10
    Lot size
    0.40 Acres

    Utilities

    Cooling system
    Ductless, None (Cooling)

    Building Details

    Year built
    1960
    Floors in Building
    1
    Flooring type
    Concrete, Tile
    Building materials
    Block, Concrete
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Joe Costello

    Listing agent Joe Costello License #213144

    Listing office Mills Real Estate & Auction 1598 Old Gallatin Road, Scottsville, KY

    Listing date Jul 14, 2025

    MLS# RA20254055 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.

    HighLights

    • High‑traffic location ideal for retail or commercial businesses
    • Versatile space suitable for 3‑4 different businesses
    • Includes a 40x40 warehouse with a rollup door
    • Remodeled area suitable for a convenience store with a large 'Beer Cave'
    • Features a 2‑bay shop suitable for auto repair or tire services
    • Stand‑alone office space available

    Overview

    This commercial property, situated in a well-located area, presents a business or investment opportunity. The property is suitable for various uses and can accommodate three to four different businesses. It features stand-alone office space, a two-bay shop suitable for auto repair or a tire shop, and a newly remodeled area designed for a convenience store, which the owner would consider leasing. This area includes a large beer cave that requires refrigeration to be fully operational. Additionally, there is a 40x40 warehouse with a rollup door at the rear. Located in a high-traffic area, the property was previously a gas station, but the tanks have been removed and it has a clean environmental record. The property is being sold as-is. All shop equipment, including the vehicle lift, will be removed, along with the current inventory and any other personal property. The lot size is 0.4 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Auto Repair Shop

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

    Similar Places Nearby

    • Trent's Garage — 710 N 7th St, Scottsville, KY 42164
    • Don's Garage Wrecker Service — 512 N Cemetery St, Scottsville, KY 42164
    • Pro Masters Transmissions & Service Center — 10 Maysville Rd, Scottsville, KY 42164
    • Allen County Services Center — 668 E Willow St, Scottsville, KY 42164
    • B.J TIRE SHOP — 509 E Main St, Scottsville, KY 42164

    Location Insight

    • Map
    • Local Demand
    City
    Scottsville
    County
    Allen
    State
    Kentucky
    Longitude
    -86.179678
    Latitude
    36.752224

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    FAQs

    What type of property is this?
    Auto shop - High-traffic commercial property with multiple business opportunities.
    Where is this auto shop located?
    The property is located at 509 E Main Street Scottsville, KY.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: High‑traffic location ideal for retail or commercial businesses; Versatile space suitable for 3‑4 different businesses; Includes a **40x40 warehouse with a rollup door**
    (270) 622-0357
    We can help!
    Listing Contact
    Joe Costello
    Real Estate License ID: 213144
    Request Owner's contact information
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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.

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