Storefront Bar with Liquor
For Sale
$374,000
137 East Broadway Street, Winchester, KY 40391
Commercial Sale, Winchester, KY
Property Size1,536 SF
Lot Size0.17 Acres
Price / SF$243.49
Days on Market255
Property Features for 137 East Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-1
Subdivision
Commercial
Directions
From Main Street in Winchester turn on East Broadway. Store will be on the left before the railroad tracks.
Standard status
Active
APN
054-3228-004-01
Size
1,536 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Floors in Building
1
Building materials
Brick
Roof type
Shingle
Listing Agency:
Dream Maker Realty, LLC
(859) 404-3384
Listed By:
Dale Hatton
(859) 556-0330
Added: Dec 20, 2025
Changed: Aug 19
Last Checked: Sep 1 at 3:06AM
MLS# 25508602
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 1,536-square-foot brick storefront combines bar service with liquor sales and an established business operation. The sale includes the existing equipment, furnishings, televisions, pool supplies, dartboard, and inventory. Two pool tables support the customer area, while a recently replaced HVAC unit, walk-in compressors, and cooler provide updated operating equipment. Central air and electric heat serve the building, with a shingle roof and public sewer connection.
Located in historic downtown Winchester, the business is described as one of the few Kentucky liquor stores authorized to serve mixed drinks and open liquor. The property occupies 0.174 acres and carries R-1 zoning. A separate portfolio that includes the neighboring apartment building, containing three rented apartments, is also available through the sellers.
Located in historic downtown Winchester, the business is described as one of the few Kentucky liquor stores authorized to serve mixed drinks and open liquor. The property occupies 0.174 acres and carries R-1 zoning. A separate portfolio that includes the neighboring apartment building, containing three rented apartments, is also available through the sellers.
Key Highlights
- 1,536 SF brick storefront on a 0.174‑acre parcel
- Two pool tables, barstools, tables, televisions, pool sticks, and dartboard included
- All inventory remains with the business
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
$17,878
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
4.78%
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%
$357,560
$357.6K
Cap Rate 7%
$255,400
$255.4K
Cap Rate 9%
$198,644
$198.6K
Market Conditions
NOI Build-Up for 1,536 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
$25.3K $16.44/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$23.8K $15.52/SF
− OpEx
−$6.0K −$3.88/SF
NOI
$17.9K $11.64/SF
Area
Clark 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%
$357,560
Cap Rate 7%
$255,400
Cap Rate 9%
$198,644
Alternative Uses
Best Use
Specialty Retail
$255.4K
$223.5K – $298.0K
NOI $17,878 @ 7.0% cap · market cap 4.78%
Second Best
Retail
$208.8K
$182.7K – $243.6K
NOI $14,616 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
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?
Storefront property - Operating commercial space includes furnishings, recreational equipment, beverage service fixtures, and inventory.
Where is this storefront property located?
The property is located at 137 East Broadway Street Winchester, KY.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: 1,536 SF brick storefront on a 0.174‑acre parcel; Two pool tables, barstools, tables, televisions, pool sticks, and dartboard included; All inventory remains with the business
