Hebron Retail/Restaurant
For Sale
Contact for pricing
Pending
1933 Petersburg Rd, Hebron, KY 41048
Turn-key retail/restaurant building with flexible commercial uses.
Property Size3,468 SF
Lot Size0.25 Acres
Days on Market166
Property Features for 1933 Petersburg Rd
General Information
Standard status
Pending
Size
3,468 SF
Lot size
0.25 Acres
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1940
Tenancy
Single
Listing Agency:
Epique Commercial
Listed By:
Julie Griffin Thompson · License #247746
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Jul 25 at 9:02AM
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 Epique Commercial
Investment Insights
Based on property information with market context.
Located in Hebron, this commercial property offers a retail or restaurant opportunity with visibility and traffic exposure on Petersburg Road. The single-tenant, 1-story building provides approximately 3,493 to 3,648 square feet of space. Originally designed and operated as a bar and restaurant, it includes fixtures, furniture, and equipment. The property is situated on a 0.25-acre lot with frontage and on-site parking. Zoned C-2/SC (Small Community Overlay), the site supports various commercial uses, including restaurant, bar, retail sales, service business, office, or adaptive reuse, subject to local zoning approval. Built in 1940, the property is located in a well-traveled corridor linking local neighborhoods and nearby commercial nodes. It is suitable for owner-occupiers or investors seeking a versatile income-producing property in Boone County. The property is ideal for a restaurant or bar owner-user, neighborhood retail or specialty shop, professional office or service provider, investor seeking income property, or adaptive reuse for mixed commercial functions.
Key Highlights
- Turn‑key former bar/restaurant with all fixtures, furniture & equipment (FF&E) included.
- Prime corner lot location on Petersburg Road (KY‑20) with excellent visibility and strong traffic exposure.
- Flexible C‑2/Small Community Overlay zoning allows for a variety of commercial uses (restaurant/bar, retail, office, etc.).
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
$41,862
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
7.68%
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%
$837,240
$837.2K
Cap Rate 7%
$598,029
$598.0K
Cap Rate 9%
$465,133
$465.1K
Market Conditions
NOI Build-Up for 3,468 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
$62.4K $18.00/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$59.8K $17.24/SF
− OpEx
−$17.9K −$5.17/SF
NOI
$41.9K $12.07/SF
Area
Boone County, KY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$837,240
Cap Rate 7%
$598,029
Cap Rate 9%
$465,133
Alternative Uses
Best Use
Retail
$598.0K
$523.3K – $697.7K
NOI $41,862 @ 7.0% cap · market cap 7.68%
Second Best
Specialty Retail
$589.5K
$515.8K – $687.7K
NOI $41,264 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$956.0K
$836.5K – $1.12M
NOI $66,919 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 41048, KY
16,523
Population
5,562
Households
3
Avg Household Size
35
Median Age
43%
College-Educated
95%
High-School Grad
33.5 sq mi
ZIP Area
493
Density / Sq Mi
$129,354
Median Household Income
$60,009
Median Earnings
$1,350
Median Rent
$306,800
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.
Similar Off Market Nearby
- Starbucks — 3105 N Bend Rd, Hebron, KY 41048
- Hebron Little Pub — 1812 Petersburg Rd, Hebron, KY 41048
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turn-key retail/restaurant building with flexible commercial uses.
Where is this bar & pub located?
The property is located at 1933 Petersburg Rd Hebron, KY.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Turn‑key former bar/restaurant with all fixtures, furniture & equipment (FF&E) included.; Prime corner lot location on Petersburg Road (KY‑20) with excellent visibility and strong traffic exposure.; Flexible C‑2/Small Community Overlay zoning allows for a variety of commercial uses (restaurant/bar, retail, office, etc.).
