Building Details

Year built 1970

Listing Agency: Weichert Realtors Ford Brothers, Inc. m***@fordbrothersinc.com Show Phone

Listed By: Drew Patton · License #245767 Show Phone

Added: Oct 13, 2025 Changed: Oct 2 Last Checked: Oct 7 at 10:06PM

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MLS# 25503575

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 commercial land property encompasses approximately 2.25 acres and includes 9,989 square feet of reported property area. Existing improvements include 5 residential rental units, a 3-bay garage building, and an acre of poured concrete parking with a thickness of 5.5 inches. The improvements date to 1970.

The property has over 100 feet of frontage along US-27 and access from both US-27 and Monticello Street. It is positioned in Somerset near businesses and destinations including Walmart, Lowe's, Cracker Barrel, Chick-fil-A, Kroger Marketplace, Somerset Community College, and The Center for Rural Development. The site combines commercial land with existing residential, garage, and parking improvements.

Key Highlights

• Approximately 2.25 acres of commercial land
• Over 100 feet of frontage on US‑27
• Access from both US‑27 and Monticello Street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,219

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,704,380 $1.7M

Cap Rate 7%

$1,217,414 $1.2M

Cap Rate 9%

$946,878 $946.9K

Market Conditions

NOI Build-Up for 9,989 SF

Gross rent

$149.8K $15.00/SF

− Vacancy

−$13.5K −$1.35/SF

EGI

$136.3K $13.65/SF

− OpEx

−$51.1K −$5.12/SF

NOI

$85.2K $8.53/SF

Area

Pulaski County, KY

Vacancy

9.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,704,380

Cap Rate 7%

$1,217,414

Cap Rate 9%

$946,878

Alternative Uses

Best Use

Mixed Use

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,219 @ 7.0% cap · market cap 4.87%

Second Best

Apartment 5plus

$969.4K

$848.2K – $1.13M (±1% cap)

NOI $67,855 @ 7.0% cap · market cap 3.88%

Theoretical Best

Specialty Retail

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,125 @ 7.0% cap · market cap 6.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Commercial land

Location Intelligence

Trade Area within ½ mile

374

Businesses Nearby

Explore this area Business Placement

Demographics for 42503, KY

24,670

Population

11,588

Households

2.1

Avg Household Size

42

Median Age

23%

College-Educated

85%

High-School Grad

129.5 sq mi

ZIP Area

191

Density / Sq Mi

$53,377

Median Household Income

$35,319

Median Earnings

$873

Median Rent

$198,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land 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?

Commercial land - Includes residential rental units, a three-bay garage, and concrete parking with access from two roads.

Where is this commercial land located?

The property is located at 1740 US-27 Somerset, KY.

What is the asking price?

The asking price for this property is $1,750,000.

What are key features of this property?

This property features: Approximately 2.25 acres of commercial land; Over 100 feet of frontage on US‑27; Access from both US‑27 and Monticello Street