Restaurant Building with Pylon
For Sale
$3,200,000
200 Commerce Dr, Elizabethtown, KY 42701
C-3-zoned restaurant property with established infrastructure and access near an I-65 commercial corridor.
Property Size8,722 SF
Lot Size1.50 Acres
Price / SF$366.89
Days on Market111
Property Features for 200 Commerce Dr
General Information
Standard status
Active
Size
8,722 SF
Lot size
1.50 Acres
Property subtype
Retail
Zoning
C-3
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Amenities
Vacant
Building Details
Tenancy
Single Tenant
Listing Agency:
SRS Real Estate Partners, LLC
(502) 727-1541
Listed By:
Casey Smallwood
(502) 727-1541
Source:
Kcrea.resimplifi
Added: May 12
Changed: Aug 29
Last Checked: Aug 26 at 12:18PM
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 SRS Real Estate Partners, LLC
Investment Insights
Based on property information with market context.
Located at 200 Commerce Drive in Elizabethtown, the property comprises a ±8,722 SF restaurant building on ±1.5 AC. Existing restaurant infrastructure and mechanical systems are in place, providing a functional foundation for continued restaurant use or a future redevelopment plan. The site also includes highway-oriented pylon signage.
The property is positioned near an I-65 exit and is surrounded by national hotel brands and high-volume restaurants. Its C-3 zoning and established commercial setting support the property’s restaurant-focused profile. The combination of an existing building, restaurant infrastructure, signage, and highway access creates a defined commercial asset in Elizabethtown.
The property is positioned near an I-65 exit and is surrounded by national hotel brands and high-volume restaurants. Its C-3 zoning and established commercial setting support the property’s restaurant-focused profile. The combination of an existing building, restaurant infrastructure, signage, and highway access creates a defined commercial asset in Elizabethtown.
Key Highlights
- ±8,722 SF restaurant building
- ±1.5 AC site
- C‑3 zoning
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
$103,778
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
3.24%
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%
$2,075,560
$2.1M
Cap Rate 7%
$1,482,543
$1.5M
Cap Rate 9%
$1,153,089
$1.2M
Market Conditions
NOI Build-Up for 8,722 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
$143.4K $16.44/SF
− Vacancy
−$5.0K −$0.58/SF
EGI
$138.4K $15.86/SF
− OpEx
−$34.6K −$3.97/SF
NOI
$103.8K $11.90/SF
Area
Hardin County, KY
Vacancy
3.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
25.00%
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%
$2,075,560
Cap Rate 7%
$1,482,543
Cap Rate 9%
$1,153,089
Alternative Uses
Best Use
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,778 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,525 @ 7.0% cap · market cap 3.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - C-3-zoned restaurant property with established infrastructure and access near an I-65 commercial corridor.
Where is this conventional restaurant located?
The property is located at 200 Commerce Dr Elizabethtown, 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: ±8,722 SF restaurant building; ±1.5 AC site; C‑3 zoning
