Restaurant with Three Dining
New
For Sale
$2,390,000
1501 Bypass Rd, Winchester, KY 40391
The property includes a large parking lot and visibility from Kroger Shopping Center.
Property Size7,020 SF
Price / SF$340.46
Days on Market3
Property Features for 1501 Bypass Rd
General Information
Standard status
Active
Size
7,020 SF
Property subtype
Commercial
Building Details
Year Built
1997
Listing Agency:
RE/MAX Elite Realty
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 12:20PM
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 RE/MAX Elite Realty
Investment Insights
Based on property information with market context.
A restaurant property in Winchester offers 7,020 square feet of space, with three dining rooms and a large parking lot. The building was constructed in 1997.
The property is visible from Kroger Shopping Center. Its dining areas and parking are the concrete features identified for the restaurant asset.
The property is visible from Kroger Shopping Center. Its dining areas and parking are the concrete features identified for the restaurant asset.
Key Highlights
- 7,020‑square‑foot restaurant property
- Three dining rooms
- Large parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,709
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,634,180
$1.6M
Cap Rate 7%
$1,167,271
$1.2M
Cap Rate 9%
$907,878
$907.9K
Market Conditions
NOI Build-Up for 7,020 SF
Gross rent
$115.4K $16.44/SF
− Vacancy
−$6.5K −$0.92/SF
EGI
$108.9K $15.52/SF
− OpEx
−$27.2K −$3.88/SF
NOI
$81.7K $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 Rate 5%
$1,634,180
Cap Rate 7%
$1,167,271
Cap Rate 9%
$907,878
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,709 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,540 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
502
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property includes a large parking lot and visibility from Kroger Shopping Center.
Where is this conventional restaurant located?
The property is located at 1501 Bypass Rd Winchester, KY.
What is the asking price?
The asking price for this property is $2,390,000.
What are key features of this property?
This property features: 7,020‑square‑foot restaurant property; Three dining rooms; Large parking lot
