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

    702 Monticello St Somerset, KY 42501

    Sponsored
    For Sale
    $359,999

    COMMERCIAL - Somerset, KY

    Property size:
    2,400 SF
    Lot size:
    0.50 Acres
    Days on Market:
    7
    Last Refresh:
    Jan 28 at 4:06 am

    Property Features for 702 Monticello St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B-2
    APN
    061-6-2-08
    Size
    2,400 SF
    Lot size
    0.50 Acres

    Building Details

    Year built
    2018
    Building materials
    Steel Frame, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Colton Flynn
    Colton Flynn

    Keller Williams Commonwealth - Somerset (859) 721-2121

    Listing agent Colton Flynn (859) 721-2121

    Listing date Jan 22, 2026

    MLS# 26001425

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building in Somerset

    This 2,400 sq ft metal building, constructed in 2018, presents a versatile opportunity for various business applications, including warehouse, storage, retail, service-based operations, or contractor space. The property features a concrete floor, steel frame construction, and access to public sewer, with an existing onsite bathroom. Situated on a 0.50-acre lot with commercial zoning, the property includes ample parking and a fenced side yard. The boundary extends beyond the fence to the ditch, offering additional flexibility for outdoor storage or expansion. Located off Monticello Street, near Ross and Beals, the property benefits from convenient access and good visibility while avoiding heavy congestion. This property is suitable for operating a business, expanding operations, or investment purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

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

    Similar Places Nearby

    Firehouse Subs Somerset, Downtown Deli

    Location Insight

    • Map
    • Local Demand
    City
    Somerset
    County
    Pulaski
    State
    Kentucky
    Longitude
    -84.617004
    Latitude
    37.068143

    Nearby Similar for Sale

    • $2,000,000
      4,122 SF

      Highway 27 Commercial Building

      Versatile commercial building on Highway 27 in Somerset, Kentucky.
      745 Highway 27 S, Somerset, KY 42501
      View Details
    • $600,000
      0.30 Acres

      Historic Building in Downtown Somerset

      Charming historic building with endless possibilities in a prime location.
      400 W Columbia St, Somerset, KY 42501
      View Details
    • $395,000
      6,850 SF

      Highway 80 Commercial Building

      6800+ sqft commercial building with high visibility on Highway 80.
      203 Murrell Ave, Somerset, KY 42503
      View Details
    • $250,000
      1,980 SF

      Remodeled Commercial Building in Downtown

      Move-in-ready 1,980 SF commercial building in downtown Somerset, KY.
      117 W Mount Vernon St, Somerset, KY 42501
      View Details
    • $650,000
      0.60 Acres

      Somerset Commercial Property with Restaurant

      Commercial property featuring a restaurant, warehouse, and storage building.
      143 Highway 80 W, Somerset, KY 42503
      View Details
    • $499,500
      12,000 SF

      Somerset Horse Barn and Arena

      Commercial property with horse barn, arena, and potential studio apartment.
      2484 Highway 1247 N, Somerset, KY 42503
      View Details
    • $599,000
      Pending

      Highway Frontage Retail/Office Opportunity

      Commercial property with retail/office space, garage, and billboard income.
      3271 Highway 27 S, Somerset, KY 42501
      View Details
    • $338,700
      2,100 SF

      Luxury Townhome Investment Opportunity

      New construction townhomes with luxury finishes and long-term value.
      323 Randolph St, Somerset, KY 42501
      View Details
    • $199,900
      1,100 SF

      Updated Home with Commercial Potential

      Updated home near 914 Bypass with oversized garages.
      2924 Ky-80, Somerset, KY 42503
      View Details
    • $595,900
      Pending

      Somerset Investment Opportunity on Highway

      Land and building on South Highway 27 in Somerset, KY.
      799 Hwy 27 South, Somerset, KY 42501
      View Details
    • $299,900
      2,374 SF

      Somerset Duplex with Income Potential

      Duplex in Westwood Estates, immediate income potential, close to marina.
      178 Ridgewater Dr, Somerset, KY 42503
      View Details
    • $409,900
      2,960 SF

      Commercial Building Investment Opportunity

      Income-producing property with a strong tenant in place.
      162 E Somerset Church Rd, Somerset, KY 42503
      View Details

    FAQs

    What type of property is this?
    Flex space - 2,400 sq ft building suitable for various business uses.
    Where is this flex space located?
    The property is located at 702 Monticello St Somerset, KY.
    What is the asking price?
    The asking price for this property is $359,999.
    What are key features of this property?
    This property features: - Versatile 2,400 sq ft metal building suitable for various uses.; - Excellent location just off Monticello Street, offering easy access and strong visibility.; - Commercial zoning on 0.50 acres with ample parking and a fenced side yard.
    (606) 305-5062
    Request Owner's contact information
    702 Monticello St Somerset, KY 42501
    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.
    702 Monticello St
    Somerset, KY 42501
    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
    702 Monticello St Somerset, KY 42501
    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
    Colton Flynn
    Colton Flynn
    Real Estate License ID: 284615
    (606) 305-5062
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.