Retail Office Property with
For Sale
$599,000
Pending
3271 S Highway 27, Somerset, KY 42501
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 Market1093
Property Features for 3271 S Highway 27
General Information
Standard status
Pending
Size
3,050 SF
Lot size
0.66 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Construction
brick/stone
Listing Agency:
CENTURY 21 Advantage Realty
(606) 451-1021
Listed By:
Kenneth C Ford · License #5204
(606) 425-6970
Source:
Exprealty
Added: Oct 31, 2023
Changed: Oct 26
Last Checked: Oct 26 at 5:27PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,768
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,360
$695.4K
Cap Rate 7%
$496,686
$496.7K
Cap Rate 9%
$386,311
$386.3K
Market Conditions
NOI Build-Up for 3,050 SF
Gross rent
$52.3K $17.16/SF
− Vacancy
−$2.7K −$0.88/SF
EGI
$49.7K $16.28/SF
− OpEx
−$14.9K −$4.89/SF
NOI
$34.8K $11.40/SF
Area
Pulaski County, KY
Vacancy
5.10%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,360
Cap Rate 7%
$496,686
Cap Rate 9%
$386,311
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 authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 42501, KY
18,047
Population
8,039
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
84%
High-School Grad
199.7 sq mi
ZIP Area
90
Density / Sq Mi
$49,449
Median Household Income
$38,121
Median Earnings
$808
Median Rent
$131,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Includes 140-foot Highway 27 frontage with a brick/stone building, attached garage/storage, and an income-producing billboard.
Where is this office unit 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
