Flex Storefront with Bay
For Sale
$120,000
Pending
3381 Main St, Stamping Ground, KY 40379
Flex storefront with office and garage area features a rear bay door, two restrooms, and open workspace layout.
Property Size1,411 SF
Days on Market67
Property Features for 3381 Main St
General Information
Standard status
Pending
Size
1,411 SF
Listing Agency:
Keller Williams Commonwealth
(859) 721-2121
Listed By:
Janet C Wigginton · License #220760
(606) 748-1741
Source:
Exprealty
Added: Jul 1
Changed: Aug 20
Last Checked: Sep 4 at 1:15PM
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
Investment Insights
Based on property information with market context.
This flex storefront property includes office and garage/workshop space arranged with open areas at the front and work space toward the rear, separated by a minimal wall. The building has two restrooms. A rear bay door and a large lot create flexible options for a variety of custom uses.
The property is located on Main Street in Stamping Ground, Kentucky, and is described as having high visibility frontage. The building is attached to an additional business, but the space for this offering is completely separate.
The interior is currently wide open and ready for tenant or owner improvements. The property will require electrical, plumbing, and HVAC work, with pricing intended to reflect that condition. Previously used as a woodworking shop space, it can be adapted for a user’s specific needs.
The property is located on Main Street in Stamping Ground, Kentucky, and is described as having high visibility frontage. The building is attached to an additional business, but the space for this offering is completely separate.
The interior is currently wide open and ready for tenant or owner improvements. The property will require electrical, plumbing, and HVAC work, with pricing intended to reflect that condition. Previously used as a woodworking shop space, it can be adapted for a user’s specific needs.
Key Highlights
- High‑visibility Main Street storefront in Stamping Ground, KY
- Rear bay door on a large lot for flexible access and potential uses
- Open front workspace plus back work area layout with minimal wall separation
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
$8,356
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
6.96%
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%
$167,120
$167.1K
Cap Rate 7%
$119,371
$119.4K
Cap Rate 9%
$92,844
$92.8K
Market Conditions
NOI Build-Up for 1,411 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
$12.7K $9.00/SF
− Vacancy
−$762 −$0.54/SF
EGI
$11.9K $8.46/SF
− OpEx
−$3.6K −$2.54/SF
NOI
$8.4K $5.92/SF
Area
Scott County, KY
Vacancy
6.00%
Lease Rate
$9.00 /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%
$167,120
Cap Rate 7%
$119,371
Cap Rate 9%
$92,844
Alternative Uses
Best Use
Office B
$283.4K
$248.0K – $330.7K
NOI $19,841 @ 7.0% cap · market cap 16.53%
Second Best
Industrial
$119.4K
$104.5K – $139.3K
NOI $8,356 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$357.6K
$312.9K – $417.2K
NOI $25,032 @ 7.0% cap · market cap 20.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40379, KY
3,784
Population
1,767
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
91%
High-School Grad
65.5 sq mi
ZIP Area
58
Density / Sq Mi
$64,487
Median Household Income
$42,388
Median Earnings
$927
Median Rent
$223,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex storefront with office and garage area features a rear bay door, two restrooms, and open workspace layout.
Where is this flex space located?
The property is located at 3381 Main St Stamping Ground, KY.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: High‑visibility Main Street storefront in Stamping Ground, KY; Rear bay door on a large lot for flexible access and potential uses; Open front workspace plus back work area layout with minimal wall separation
