Building Details

Year Built 2019

Listing Agency: EXP Realty LLC

Listed By: Florence Browne · License #KENTUCKY207158 Show Phone

Source: Kcrea.resimplifi

Added: Jul 13, 2025 Changed: Oct 9 Last Checked: Oct 16 at 5:47AM

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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 EXP Realty LLC

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Investment Insights

Based on property information with market context.

This 3,582-square-foot restaurant property, built in 2019, features a spacious dining area supported by separate hot and cold kitchens. The building has received multiple updates and includes an outdoor patio with garage doors that open to the patio area. Interior furnishings, fixtures, and equipment may be available through a separate bill of sale.

The property is located at 3350 Lake Jericho Road in Smithfield, Kentucky, with visibility from the road, an on-site parking lot, exterior building signage, and a pole sign. It is across from Dollar General, Our Best Restaurant, and Jericho Creamery, and is approximately 5 minutes from downtown LaGrange. The property is zoned A-3 and is available starting October 1, 2025.

Key Highlights

• 3,582‑square‑foot restaurant property built in 2019
• Separate large hot and cold kitchens with ample dining space
• Outdoor patio equipped with garage doors opening to the patio area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,974

Suggested Prices Based on Cap Rates

Cap Rate 5%

$839,480 $839.5K

Cap Rate 7%

$599,629 $599.6K

Cap Rate 9%

$466,378 $466.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,582 SF

Gross rent

$60.2K $16.80/SF

− Vacancy

−$4.2K −$1.18/SF

EGI

$56.0K $15.62/SF

− OpEx

−$14.0K −$3.91/SF

NOI

$42.0K $11.72/SF

Area

Henry County, KY

Vacancy

7.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$839,480

Cap Rate 7%

$599,629

Cap Rate 9%

$466,378

Alternative Uses

Best Use

Specialty Retail

$599.6K

$524.7K – $699.6K (±1% cap)

NOI $41,974 @ 7.0% cap · market cap 419,740.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$755.1K

$660.8K – $881.0K (±1% cap)

NOI $52,860 @ 7.0% cap · market cap 528,600.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Foree Law Office ... Law Firm Keepers Seafood Restaurant Restaurant

Suggested Use

Top Pick Kitchen & Bath Showroom Home Appliance Store Grocery & Convenience Store Law Firm Restaurant Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

10

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 40068, KY

2,752

Population

1,004

Households

2.7

Avg Household Size

43

Median Age

28%

College-Educated

89%

High-School Grad

43.2 sq mi

ZIP Area

64

Density / Sq Mi

$75,179

Median Household Income

$47,550

Median Earnings

$1,030

Median Rent

$291,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - A well-maintained restaurant property offers separate hot and cold kitchens, dining space, parking, and prominent signage.

Where is this conventional restaurant located?

The property is located at 3350 LAKE JERICHO ROAD Smithfield, KY.

What are key features of this property?

This property features: 3,582‑square‑foot restaurant property built in 2019; Separate large hot and cold kitchens with ample dining space; Outdoor patio equipped with garage doors opening to the patio area