Brick Storefront with
For Sale
$599,000
Pending
3271 S Hwy 27, Somerset, KY 42501
COMMERCIAL - Somerset, KY
Property Size3,050 SF
Lot Size0.66 Acres
Days on Market1021
Property Features for 3271 S Hwy 27
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking
20
Subdivision
Rural
Directions
Go through light number 19 on south hwy 27 the building is on south side of Valvoline oil change.
Standard status
Pending
APN
062-2-1-46
Size
3,050 SF
Lot size
0.66 Acres
Building Details
Year built
1970
Floors in Building
1
Building materials
Brick
Roof type
Composition
Listing Agency:
CENTURY 21 Advantage Realty
(606) 451-1021
Listed By:
Kenneth C Ford · License #5204
(606) 425-6970
Added: Oct 31, 2023
Changed: Aug 4
Last Checked: Aug 16 at 7:06AM
MLS# 23021095
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.
This commercial property includes a brick building configured for potential retail or office use, along with a 900-square-foot attached garage and storage area. The building dates to 1970, has a composition roof, and includes a basement. A billboard is also part of the property, providing an additional site feature.
The parcel contains 0.66 acres with 140 feet of frontage on Highway 27 in Somerset, Kentucky. Its highway-facing position supports straightforward access and exposure for commercial operations. The combination of an adaptable building, attached storage, and billboard creates a property with several existing physical components for consideration.
The parcel contains 0.66 acres with 140 feet of frontage on Highway 27 in Somerset, Kentucky. Its highway-facing position supports straightforward access and exposure for commercial operations. The combination of an adaptable building, attached storage, and billboard creates a property with several existing physical components for consideration.
Key Highlights
- 0.66‑acre commercial parcel in Somerset, KY
- 140 feet of frontage on Highway 27
- Brick building with retail and office use potential
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
$34,768
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
5.80%
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%
$695,360
$695.4K
Cap Rate 7%
$496,686
$496.7K
Cap Rate 9%
$386,311
$386.3K
Market Conditions
NOI Build-Up for 3,050 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
$52.3K $17.16/SF
− Vacancy
−$2.7K −$0.88/SF
EGI
$49.7K $16.28/SF
− OpEx
−$14.9K −$4.89/SF
NOI
$34.8K $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 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%
$695,360
Cap Rate 7%
$496,686
Cap Rate 9%
$386,311
Alternative Uses
Best Use
Retail
$496.7K
$434.6K – $579.5K
NOI $34,768 @ 7.0% cap · market cap 5.80%
Second Best
Office B
$385.4K
$337.2K – $449.6K
NOI $26,975 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$519.6K
$454.7K – $606.2K
NOI $36,373 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 42501, KY
18,047
Population
8,039
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
84%
High-School Grad
199.7 sq mi
ZIP Area
90
Density / Sq Mi
$49,449
Median Household Income
$38,121
Median Earnings
$808
Median Rent
$131,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Floral Department — 2835 Old US Hwy 27, Somerset, KY 42501
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with retail and office use potential, attached garage storage, and highway frontage.
Where is this storefront property located?
The property is located at 3271 S Hwy 27 Somerset, KY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 0.66‑acre commercial parcel in Somerset, KY; 140 feet of frontage on Highway 27; Brick building with retail and office use potential
