Retail Office Property with
3271 S Highway 27 Somerset, KY 42501
3271 S Highway 27, Somerset, KY, 42501
$599,000
Pending
For Sale
$599,000
Pending
Includes 140-foot Highway 27 frontage with a brick/stone building, attached garage/storage, and an income-producing billboard.
Property Size3,050 SF
Lot Size0.66 Acres
Days on Market996
Property Features for 3271 S Highway 27
General Information
- Standard status
- Pending
- Size
- 3,050 SF
- Lot size
- 0.66 Acres
Listing agency
CENTURY 21 Advantage Realty
(606) 425-6970
Listed by
Kenneth C Ford · License #5204
(606) 425-6970
Source
Exprealty
Added: Oct 31, 2023 Updated: Jul 22 at 2:57PM Checked: Jul 22 at 2:57PM
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 CENTURY 21 Advantage Realty
Investment Insights
Based on property information with market context.
Set on 0.66 acres, this commercial property features a 3,100 square foot brick/stone house offering retail and office opportunities, along with an attached 900 square foot garage and storage space. The site also includes a billboard currently producing $8,400 per year.
The property has 140 feet of frontage on South Highway 27 in Somerset, KY. A leasing option is also available for $2,000 per month.
Designed to support more than one revenue component on a single parcel, the building configuration and accessory garage/storage provide flexible space for prospective tenants and uses.
The property has 140 feet of frontage on South Highway 27 in Somerset, KY. A leasing option is also available for $2,000 per month.
Designed to support more than one revenue component on a single parcel, the building configuration and accessory garage/storage provide flexible space for prospective tenants and uses.
Key Highlights
- 0.66‑acre commercial property with 140‑ft frontage on Highway 27
- Includes a 3,100 SF brick/stone house with retail/office opportunities
- Attached 900 SF garage and storage space
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.3k | $17.16 |
| − Vacancy | −$2.7k | −$0.88 |
| EGI | $49.7k | $16.28 |
| − OpEx | −$14.9k | −$4.89 |
| NOI | $34.8k | $11.40 |
3,050 SF · lease $17.16/SF/yr · vacancy 5.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$496.7K
$434.6K – $579.5K
NOI $34,768 @ 7.0% cap · market cap 5.80%
Second Best
Office B
$385.4K
$337.2K – $449.6K
NOI $26,975 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$519.6K
$454.7K – $606.2K
NOI $36,373 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Technical Solutions Group ...
Electronics & Wireless Store
House of Cars Auto ...
Car Dealership
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Includes 140-foot Highway 27 frontage with a brick/stone building, attached garage/storage, and an income-producing billboard.
Where is this office units located?
The property is located at 3271 S Highway 27 Somerset, KY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 0.66‑acre commercial property with 140‑ft frontage on Highway 27; Includes a 3,100 SF brick/stone house with retail/office opportunities; Attached 900 SF garage and storage space
