Brick Building with Flexible
301 W Mt Vernon Street Somerset, KY 42501
For Sale
$199,900
COMMERCIAL - Somerset, KY
Property Size1,302 SF
Lot Size1.00 Acre
Price / SF$153.53
Days on Market179
Property Features for 301 W Mt Vernon Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1
Rooms
Basement
Basement
Unfinished
Standard status
Active
APN
061-4-8-33
Size
1,302 SF
Lot size
1.00 Acre
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric, Heat Pump
Building Details
Year built
1970
Floors in Building
1
Building materials
Brick
Listing Agency:
Lake Homes Realty
(866) 525-3466
Listed By:
Susan W Alderdice
(606) 305-1226
Added: Jan 30
Changed: Jul 12
Last Checked: Jul 28 at 7:06AM
MLS# 26001943
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.
Brick building within city limits with immediate possession available and flexible residential or commercial use potential. Interior features include hardwood floors, along with a covered side porch.
The property includes a separate one-car garage and a basement with both interior and exterior access, providing additional storage or usable space. Zoning is listed as B-1.
Overall, the configuration supports multiple ways to utilize the space, with dedicated parking through the one-car garage and added room in the basement for storage or day-to-day use.
The property includes a separate one-car garage and a basement with both interior and exterior access, providing additional storage or usable space. Zoning is listed as B-1.
Overall, the configuration supports multiple ways to utilize the space, with dedicated parking through the one-car garage and added room in the basement for storage or day-to-day use.
Key Highlights
- Brick building built in 1970 with residential or commercial flexibility within city limits
- Hardwood floors and a covered side porch
- Basement offers additional storage or usable space with both interior and exterior access
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.9k | $12.96 |
| − Vacancy | −$793 | −$0.61 |
| EGI | $16.1k | $12.35 |
| − OpEx | −$7.2k | −$5.56 |
| NOI | $8.8k | $6.79 |
1,302 SF · lease $12.96/SF/yr · vacancy 4.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$126.3K
$110.6K – $147.4K
NOI $8,844 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$221.8K
$194.1K – $258.8K
NOI $15,527 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Single family property - Brick building within city limits offering flexible residential or commercial use with hardwood floors and basement access.
Where is this single family property located?
The property is located at 301 W Mt Vernon Street Somerset, KY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Brick building built in 1970 with residential or commercial flexibility within city limits; Hardwood floors and a covered side porch; Basement offers additional storage or usable space with both interior and exterior access
