Building Details

Year built 1980

Floors in Building 1

Building materials Block

Roof type Metal

Listing Agency: New Doors Real Estate

Listed By: Charles D Beaman Show Phone

Added: May 1 Changed: Oct 2 Last Checked: Nov 6 at 2:06PM

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MLS# 26009655

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Investment Insights

Based on property information with market context.

This one-story restaurant property contains 1,867 square feet on a 30-by-100-foot lot. Constructed in 1980, the building has block construction, a metal roof, natural gas heat, electric cooling, and public sewer service. The property is currently occupied by a cafe, restaurant, and catering operation; the operating business is excluded from the sale. The tenant leases on a month-to-month basis and has indicated interest in continuing occupancy.

The building is located in downtown Wilmore near Asbury Theological Seminary and minutes from Asbury University. Local retail and dining businesses surround the property, with pedestrian activity in the immediate area. Its existing restaurant use, current occupancy, and modest lot configuration provide a defined commercial setting for continued operation or a future change in use.

Key Highlights

• 1,867 SF one‑story restaurant building
• 30' x 100' lot in downtown Wilmore
• Current cafe, restaurant, and catering tenant; business excluded from sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,765

Cap Rate

7.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,300 $355.3K

Cap Rate 7%

$253,786 $253.8K

Cap Rate 9%

$197,389 $197.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,867 SF

Gross rent

$26.9K $14.40/SF

− Vacancy

−$1.5K −$0.81/SF

EGI

$25.4K $13.59/SF

− OpEx

−$7.6K −$4.08/SF

NOI

$17.8K $9.52/SF

Area

Jessamine County, KY

Vacancy

5.60%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,300

Cap Rate 7%

$253,786

Cap Rate 9%

$197,389

Alternative Uses

Best Use

Specialty Retail

$310.4K

$271.6K – $362.2K (±1% cap)

NOI $21,731 @ 7.0% cap · market cap 9.45%

Second Best

Retail

$253.8K

$222.1K – $296.1K (±1% cap)

NOI $17,765 @ 7.0% cap · market cap 7.73%

Theoretical Best

Office A

$473.2K

$414.0K – $552.0K (±1% cap)

NOI $33,122 @ 7.0% cap · market cap 14.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Building Supply Real Estate Agency Restaurant Auto Repair Shop Law Firm Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

288

Businesses Nearby

14k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 86% Groceries 14%

Dollar General Shops & Services

5,827 visits/mo 0.1 miles

Shell Shops & Services

5,821 visits/mo 0.3 miles

Fitchs Iga #7356 Groceries

2,036 visits/mo 0.1 miles

WesBanco Shops & Services

603 visits/mo 0.0 miles

Demographics for 40390, KY

7,469

Population

2,598

Households

2.9

Avg Household Size

33

Median Age

41%

College-Educated

93%

High-School Grad

24.7 sq mi

ZIP Area

302

Density / Sq Mi

$71,731

Median Household Income

$29,751

Median Earnings

$833

Median Rent

$219,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - One-story commercial building with an existing month-to-month restaurant tenancy and flexible future-use potential.

Where is this conventional restaurant located?

The property is located at 111 E Main Street Wilmore, KY.

What is the asking price?

The asking price for this property is $229,900.

What are key features of this property?

This property features: 1,867 SF one‑story restaurant building; 30' x 100' lot in downtown Wilmore; Current cafe, restaurant, and catering tenant; business excluded from sale