Renovated Restaurant Building with
For Sale
$625,000
409 N Main St, Nicholasville, KY 40356
Operating restaurant on a 0.5-acre site with 22 parking spaces and three-phase electric along North Main Street.
Property Size3,068 SF
Lot Size0.50 Acres
Price / SF$203.72
Days on Market140
Property Features for 409 N Main St
General Information
Standard status
Active
Size
3,068 SF
Total Parking Spaces
22
Lot size
0.50 Acres
Property subtype
Retail - Street Retail
Additional Details
Heavy Power
Yes
Building Details
Building Size
3,068 SF
Year Renovated
2025
Listing Agency:
SVN | Stone Commercial Real Estate
Listed By:
Travis Rose, MBA
Source:
Commercialcafe
Added: Apr 15
Changed: Aug 13
Last Checked: Sep 1 at 4:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Stone Commercial Real Estate
Investment Insights
Based on property information with market context.
A well-maintained restaurant property featuring 3,068 square feet in a block-and-steel structure. The building was renovated in October 2025 with new PEX plumbing, new sewer drain lines, and updated interior finishes. The roof and HVAC systems are approximately 10 years old, and the site includes three-phase electric service.
The property is located along busy North Main Street with strong traffic counts and excellent visibility. The site offers 22 parking spaces and is positioned next to the future Jessamine County courthouse.
The building is currently operating as a restaurant; tours must be scheduled through Advisor Travis Rose. Restaurant equipment is not included with the real estate and will be sold separately.
The property is located along busy North Main Street with strong traffic counts and excellent visibility. The site offers 22 parking spaces and is positioned next to the future Jessamine County courthouse.
The building is currently operating as a restaurant; tours must be scheduled through Advisor Travis Rose. Restaurant equipment is not included with the real estate and will be sold separately.
Key Highlights
- 3,068 SF commercial building on a 0.5‑acre lot at 409 N Main Street in Nicholasville, KY
- Operating restaurant with updates completed in October 2025, including new PEX plumbing, new sewer drain lines, and updated interior
- Block and steel construction; roof and HVAC systems are approximately 10 years old
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,710
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$714,200
$714.2K
Cap Rate 7%
$510,143
$510.1K
Cap Rate 9%
$396,778
$396.8K
Market Conditions
NOI Build-Up for 3,068 SF
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.
Gross rent
$50.4K $16.44/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$47.6K $15.52/SF
− OpEx
−$11.9K −$3.88/SF
NOI
$35.7K $11.64/SF
Area
Jessamine County, KY
Vacancy
5.60%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$714,200
Cap Rate 7%
$510,143
Cap Rate 9%
$396,778
Alternative Uses
Best Use
Specialty Retail
$510.1K
$446.4K – $595.2K
NOI $35,710 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$777.6K
$680.4K – $907.2K
NOI $54,429 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant on a 0.5-acre site with 22 parking spaces and three-phase electric along North Main Street.
Where is this conventional restaurant located?
The property is located at 409 N Main St Nicholasville, KY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,068 SF commercial building on a 0.5‑acre lot at 409 N Main Street in Nicholasville, KY; Operating restaurant with updates completed in October 2025, including new PEX plumbing, new sewer drain lines, and updated interior; Block and steel construction; roof and HVAC systems are approximately 10 years old
