Downtown Restaurant
159 E Main Street, Georgetown, KY 40324
For Sale
New
$700,000
Commercial Sale, Georgetown, KY
Property Size2,832 SF
Lot Size0.07 Acres
Price / SF$247.18
Days on Market1
Property Features for 159 E Main Street
General Information
Property type
Property subtype
Zoning
Zoning description
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Building Details
Floors in Building
Listing Agency:
Cornett & Associates
(502) 863-0609
Listed By:
Elizabeth Lyons
(859) 361-2488
Added: Nov 9
Last Checked: Nov 9 at 8:06PM
MLS# 26030810
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.
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Investment Insights
Based on property information with market context.
At 159 E Main Street, this restaurant property contains 2,832 square feet and a basement. The 0.071-acre parcel is zoned B-3, and the commercial space is currently occupied by Fava’s, a Georgetown restaurant whose history dates to 1910.
The property is in downtown Georgetown, Kentucky, on East Main Street.
The property is in downtown Georgetown, Kentucky, on East Main Street.
Key Highlights
- 2,832‑square‑foot property with a basement
- 0.071‑acre parcel zoned B‑3
- Commercial space currently occupied by Fava’s, with roots dating to 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,478
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,560
$629.6K
Cap Rate 7%
$449,686
$449.7K
Cap Rate 9%
$349,756
$349.8K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$44.2K $15.60/SF
− Vacancy
−$2.2K −$0.78/SF
EGI
$42.0K $14.82/SF
− OpEx
−$10.5K −$3.70/SF
NOI
$31.5K $11.11/SF
Area
Scott County, KY
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,560
Cap Rate 7%
$449,686
Cap Rate 9%
$349,756
Alternative Uses
Best Use
Specialty Retail
$449.7K
$393.5K – $524.6K
NOI $31,478 @ 7.0% cap · market cap 4.50%
Second Best
Retail
$385.0K
$336.9K – $449.1K
NOI $26,948 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$717.7K
$628.0K – $837.4K
NOI $50,242 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40324, KY
51,035
Population
20,570
Households
2.5
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
155.1 sq mi
ZIP Area
329
Density / Sq Mi
$83,012
Median Household Income
$47,619
Median Earnings
$1,188
Median Rent
$262,700
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The commercial space is occupied by Fava’s, a Georgetown dining establishment with roots dating to 1910.
Where is this conventional restaurant located?
The property is located at 159 E Main Street Georgetown, KY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,832‑square‑foot property with a basement; 0.071‑acre parcel zoned B‑3; Commercial space currently occupied by Fava’s, with roots dating to 1910
