Ten-Unit Retail
285 Parkers Mill Way, Somerset, KY 42503
For Sale
New
$1,200,000
Nine retail spaces and one storage unit form a multi-tenant commercial property.
Property Size7,500 SF
Price / SF$160
Days on Market7
Property Features for 285 Parkers Mill Way
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Keller Williams Commonwealth
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Nov 1
Changed: Nov 6
Last Checked: Nov 6 at 8:47AM
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 Keller Williams Commonwealth
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,500-square-foot shopping center contains 10 units: nine retail spaces and one storage unit. Built in 2006, the building was fully remodeled in 2026, offering a refreshed configuration for its existing commercial use.
The property is in Somerset near South Highway 27, with access to shopping, businesses, and major roadways. Nearby traffic counts exceed 26,000 vehicles per day.
The property is in Somerset near South Highway 27, with access to shopping, businesses, and major roadways. Nearby traffic counts exceed 26,000 vehicles per day.
Key Highlights
- 10 units, including 9 retail units and 1 storage unit
- 7,500 square feet of building area
- Fully remodeled in 2026; built in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,495
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,709,900
$1.7M
Cap Rate 7%
$1,221,357
$1.2M
Cap Rate 9%
$949,944
$949.9K
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$128.7K $17.16/SF
− Vacancy
−$6.6K −$0.88/SF
EGI
$122.1K $16.28/SF
− OpEx
−$36.6K −$4.89/SF
NOI
$85.5K $11.40/SF
Area
Pulaski County, KY
Vacancy
5.10%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,709,900
Cap Rate 7%
$1,221,357
Cap Rate 9%
$949,944
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,495 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,442 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
102k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Dining 24%
Groceries 19%
Apparel 19%
Aldi
Groceries
19,765 visits/mo
0.3 miles
JCPenney
Apparel
19,705 visits/mo
0.5 miles
Speedway
Shops & Services
15,522 visits/mo
0.4 miles
Wings & Rings
Dining
12,422 visits/mo
0.3 miles
Hardee's
Dining
11,659 visits/mo
0.4 miles
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 Retail in South region
Similar Off Market Nearby
- Somerset Mall — 4150 S Hwy 27, Somerset, KY 42501
- Waitsboro Shopping Center — burnside rd, somerset, ky 42501
Frequently Asked Questions
What type of property is this?
Shopping center - Nine retail spaces and one storage unit form a multi-tenant commercial property.
Where is this shopping center located?
The property is located at 285 Parkers Mill Way Somerset, KY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 10 units, including 9 retail units and 1 storage unit; 7,500 square feet of building area; Fully remodeled in 2026; built in 2006
