Storefront Building with
For Sale
$1,100,000
256 Main St, Florence, KY 41042
Established storefront property with available parking near I-71.
Property Size7,991 SF
Price / SF$137.65
Days on Market39
Property Features for 256 Main St
General Information
Standard status
Active
Size
7,991 SF
Building Details
Year Built
1940
Listing Agency:
Paragon Realty Partners
(859) 653-8087
Listed By:
Ida Diaz · License #206596
Source:
Finn-team
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 25 at 4:34AM
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 Paragon Realty Partners
Investment Insights
Based on property information with market context.
This storefront property provides approximately 8000 square feet within a building constructed in 1940. The asset is suited to commercial occupancy and includes available parking spaces.
The property is located at 256 Main Street in Florence, Kentucky, a few miles from I-71. Its placement in the Florence area provides access to the interstate while retaining a Main Street address.
The property is located at 256 Main Street in Florence, Kentucky, a few miles from I-71. Its placement in the Florence area provides access to the interstate while retaining a Main Street address.
Key Highlights
- Approximately 8000 square feet of building area
- Constructed in 1940
- Parking spaces available
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
$96,458
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
8.77%
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%
$1,929,160
$1.9M
Cap Rate 7%
$1,377,971
$1.4M
Cap Rate 9%
$1,071,756
$1.1M
Market Conditions
NOI Build-Up for 7,991 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
$143.8K $18.00/SF
− Vacancy
−$6.0K −$0.76/SF
EGI
$137.8K $17.24/SF
− OpEx
−$41.3K −$5.17/SF
NOI
$96.5K $12.07/SF
Area
Boone County, KY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,929,160
Cap Rate 7%
$1,377,971
Cap Rate 9%
$1,071,756
Alternative Uses
Best Use
Retail
$1.38M
$1.21M – $1.61M
NOI $96,458 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,194 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,517
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 31%
Home Improvements & Furnishings 1%
Electronics 1%
McDonald's
Dining
28,032 visits/mo
0.4 miles
United Dairy Farmers
Shops & Services
16,041 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,990 visits/mo
0.4 miles
Taco Bell
Dining
9,613 visits/mo
0.4 miles
Shell
Shops & Services
6,417 visits/mo
0.5 miles
Demographics for 41042, KY
54,183
Population
23,640
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
22.1 sq mi
ZIP Area
2,452
Density / Sq Mi
$75,582
Median Household Income
$43,501
Median Earnings
$1,240
Median Rent
$210,500
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.
Similar Off Market Nearby
- Flowerama — 7290 Turfway Rd, Florence, KY 41042
Frequently Asked Questions
What type of property is this?
Storefront property - Established storefront property with available parking near I-71.
Where is this storefront property located?
The property is located at 256 Main St Florence, KY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 8000 square feet of building area; Constructed in 1940; Parking spaces available
