Building Details

Year built 1970

Listing Agency: Weichert Realtors Ford Brothers, Inc. Show Phone

Listed By: C Matt Ford · License #200610 Show Phone

Added: Aug 21 Changed: Oct 2 Last Checked: Oct 7 at 5:06PM

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MLS# 26022806

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.

This flex property at 1647 S Highway 27 includes approximately 9 acres and 46,800 square feet of finished space distributed among several buildings. Improvements include a 21,200-square-foot solid-masonry industrial building, an 11,000-square-foot metal commercial building, a 6,600-square-foot retail/sales building constructed in 2004, a 4,000-square-foot commercial building, and a 4,000-square-foot metal garage. The buildings feature slab foundations and gable-style roofs, with heating provided by heat pump and gas systems. Several structures also contain office or restroom areas.

The property fronts Highway 27 in Somerset, Kentucky, providing a substantial commercial site along the corridor. The acreage supports existing building operations along with additional parking, expansion, or redevelopment possibilities. Zoning is designated C.

Key Highlights

• Approximately 9 acres with 46,800 square feet of finished building space
• Highway 27 frontage at 1647 S Highway 27, Somerset, KY 42501
• 21,200 SF solid‑masonry industrial building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$275,838

Cap Rate

8.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,516,760 $5.5M

Cap Rate 7%

$3,940,543 $3.9M

Cap Rate 9%

$3,064,867 $3.1M

Market Conditions

NOI Build-Up for 46,800 SF

Gross rent

$348.2K $7.44/SF

− Vacancy

−$23.7K −$0.51/SF

EGI

$324.5K $6.93/SF

− OpEx

−$48.7K −$1.04/SF

NOI

$275.8K $5.89/SF

Area

Pulaski County, KY

Vacancy

6.80%

Lease Rate

$7.44 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,516,760

Cap Rate 7%

$3,940,543

Cap Rate 9%

$3,064,867

Alternative Uses

Best Use

Flex RnD

$4.78M

$4.18M – $5.58M (±1% cap)

NOI $334,742 @ 7.0% cap · market cap 10.46%

Second Best

Warehouse

$3.94M

$3.45M – $4.60M (±1% cap)

NOI $275,838 @ 7.0% cap · market cap 8.62%

Theoretical Best

Specialty Retail

$7.97M

$6.98M – $9.30M (±1% cap)

NOI $558,117 @ 7.0% cap · market cap 17.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Cornett Racing Engines Auto Repair Shop

Suggested Use

Top Pick Garden Center Bakery Building Supply Carpet & Flooring Store Big Box & Wholesale Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

373

Businesses Nearby

Balanced

Demand for This Use

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - C-zoned commercial property with multiple finished buildings supporting industrial, warehouse, retail, and business operations.

Where is this flex space located?

The property is located at 1647 S Highway 27 Somerset, KY.

What is the asking price?

The asking price for this property is $3,200,000.

What are key features of this property?

This property features: Approximately 9 acres with 46,800 square feet of finished building space; Highway 27 frontage at 1647 S Highway 27, Somerset, KY 42501; 21,200 SF solid‑masonry industrial building