Office Building with Finished
For Sale
$519,900
311 Langdon St, Somerset, KY 42503
Occupied office property near Lake Cumberland Regional Hospital with additional basement space and an established lease in place.
Property Size3,287 SF
Price / SF$158.17
Days on Market158
Property Features for 311 Langdon St
General Information
Standard status
Active
Size
3,287 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Owner Occupied
No
Listing Agency:
Keller Williams Commonwealth - Somerset
Listed By:
Nathanael Sears
(606) 425-6632
Source:
Centralkyhomefinder
Added: May 13
Changed: Oct 15
Last Checked: Oct 16 at 9:06AM
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 - Somerset
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Investment Insights
Based on property information with market context.
This office property contains 3,287 square feet of usable space and includes a fully finished basement. The additional lower-level area expands the building’s functional capacity for storage, operations, or other office-related needs. Ample parking is also provided on the property.
The building is immediately adjacent to Lake Cumberland Regional Hospital and sits one block from Highway 27 in Somerset. Its setting places the property near medical and commercial businesses, with direct access to a well-established commercial area.
The property is currently occupied by a national tenant under an existing lease, offering an operating asset with both above-grade office space and finished lower-level utility.
The building is immediately adjacent to Lake Cumberland Regional Hospital and sits one block from Highway 27 in Somerset. Its setting places the property near medical and commercial businesses, with direct access to a well-established commercial area.
The property is currently occupied by a national tenant under an existing lease, offering an operating asset with both above-grade office space and finished lower-level utility.
Key Highlights
- 3,287 square feet of usable office space
- Fully finished basement provides additional functional area
- Immediately adjacent to Lake Cumberland Regional Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,071
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,420
$581.4K
Cap Rate 7%
$415,300
$415.3K
Cap Rate 9%
$323,011
$323.0K
Market Conditions
NOI Build-Up for 3,287 SF
Gross rent
$45.0K $13.68/SF
− Vacancy
−$6.2K −$1.89/SF
EGI
$38.8K $11.79/SF
− OpEx
−$9.7K −$2.95/SF
NOI
$29.1K $8.84/SF
Area
Pulaski County, KY
Vacancy
13.80%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,420
Cap Rate 7%
$415,300
Cap Rate 9%
$323,011
Alternative Uses
Best Use
Office B
$415.3K
$363.4K – $484.5K
NOI $29,071 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$560.0K
$490.0K – $653.3K
NOI $39,199 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,249
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Occupied office property near Lake Cumberland Regional Hospital with additional basement space and an established lease in place.
Where is this office building located?
The property is located at 311 Langdon St Somerset, KY.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: 3,287 square feet of usable office space; Fully finished basement provides additional functional area; Immediately adjacent to Lake Cumberland Regional Hospital
