Historic Downtown Restaurant
108 Court Street lot 108, Versailles, KY 40383
For Sale
$1,799,900
Commercial Sale, Versailles, KY
Property Size7,122 SF
Lot Size0.23 Acres
Price / SF$252.72
Days on Market48
Property Features for 108 Court Street lot 108
General Information
Property type
Property subtype
Zoning
Zoning description
Rooms
Parking
Basement
Subdivision
Directions
Standard status
APN
Size
Lot size
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
James N Turek · License KY #216197
(859) 221-2575
Added: Sep 23
Changed: Oct 12
Last Checked: Nov 9 at 11:06PM
MLS# 26026295
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.
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Investment Insights
Based on property information with market context.
Built in 1889, this 7,122-square-foot restaurant property occupies 0.228 acres and combines historic construction with a substantially updated interior. Brick, stone, and wood siding contribute to the building’s character, while multiple dining areas, two outdoor terraces, a main bar, an upstairs bar with wine cellar, and private rooms support varied restaurant and event functions. Furniture and kitchen equipment are included in the sale.
Approximately 800 square feet is occupied by an insurance office, providing an additional component within the property. The building is located in downtown Versailles near Courthouse Square, shops, restaurants, and historic architecture. B-2 zoning, public sewer, natural gas heating, and central air service the property.
Approximately 800 square feet is occupied by an insurance office, providing an additional component within the property. The building is located in downtown Versailles near Courthouse Square, shops, restaurants, and historic architecture. B-2 zoning, public sewer, natural gas heating, and central air service the property.
Key Highlights
- 7,122‑square‑foot restaurant property on 0.228 acres
- Built in 1889 with brick, stone, and wood siding
- Two outdoor terraces, main bar, upstairs bar, and wine cellar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,161
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,583,220
$1.6M
Cap Rate 7%
$1,130,871
$1.1M
Cap Rate 9%
$879,567
$879.6K
Market Conditions
NOI Build-Up for 7,122 SF
Gross rent
$111.1K $15.60/SF
− Vacancy
−$5.6K −$0.78/SF
EGI
$105.5K $14.82/SF
− OpEx
−$26.4K −$3.70/SF
NOI
$79.2K $11.11/SF
Area
Woodford County, KY
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,583,220
Cap Rate 7%
$1,130,871
Cap Rate 9%
$879,567
Alternative Uses
Best Use
Specialty Retail
$1.13M
$989.5K – $1.32M
NOI $79,161 @ 7.0% cap · market cap 4.40%
Second Best
Mixed Use
$961.5K
$841.3K – $1.12M
NOI $67,303 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,350 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Home Improvements & Furnishings 13%
Circle K
Shops & Services
9,867 visits/mo
0.1 miles
Dollar General
Shops & Services
8,934 visits/mo
0.2 miles
Marathon
Shops & Services
6,088 visits/mo
0.2 miles
Main Street Hardware Co
Home Improvements & Furnishings
3,989 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
1,899 visits/mo
0.5 miles
Demographics for 40383, KY
24,592
Population
10,431
Households
2.4
Avg Household Size
43
Median Age
42%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
164
Density / Sq Mi
$80,444
Median Household Income
$42,365
Median Earnings
$998
Median Rent
$279,400
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant with multiple dining areas, two terraces, two bars, and private event rooms in downtown Versailles.
Where is this conventional restaurant located?
The property is located at 108 Court Street lot 108 Versailles, KY.
What is the asking price?
The asking price for this property is $1,799,900.
What are key features of this property?
This property features: 7,122‑square‑foot restaurant property on 0.228 acres; Built in 1889 with brick, stone, and wood siding; Two outdoor terraces, main bar, upstairs bar, and wine cellar
