Office Unit with Private
For Sale
$225,000
357 Langdon Street, Somerset, KY 42503
Commercial Sale, Somerset, KY
Property Size1,315 SF
Lot Size0.23 Acres
Price / SF$171.10
Days on Market47
Property Features for 357 Langdon Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C
Zoning description
Somerset City (22)
Parking
5
Directions
N US-27 to W KY-80, turn left onto Langdon St, property is on the right, directly behind Kroger.
Subdivision
909 - Somerset City, Pulaski County
Standard status
Active
APN
061-1-4-59.1
Size
1,315 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Building materials
Stone, Stucco, Vinyl Siding
Roof type
Shingle
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
(606) 679-2656
Listed By:
Sarah Adkisson · License #265293
(606) 255-6321
Added: Jul 21
Changed: Aug 25
Last Checked: Sep 5 at 10:06PM
MLS# 26019442
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 1,315-square-foot office unit at 357 Langdon Street includes a reception area, three private offices, a restroom, kitchen, and an open room that can serve as meeting or additional work space. The building has stone, stucco, and vinyl siding construction, with a shingle roof, heat-pump heating and cooling, and public sewer service. Recent improvements include a new roof and siding.
The property sits directly behind Kroger and is two minutes from Lake Cumberland Regional Hospital. It is located within a corridor containing medical and professional offices and carries C zoning. The 0.23-acre property offers a compact commercial setting for office-oriented operations.
The property sits directly behind Kroger and is two minutes from Lake Cumberland Regional Hospital. It is located within a corridor containing medical and professional offices and carries C zoning. The 0.23-acre property offers a compact commercial setting for office-oriented operations.
Key Highlights
- 1,315‑square‑foot office unit on a 0.23‑acre property
- Three private offices plus reception, kitchen, restroom, and open meeting or workspace
- Directly behind Kroger and two minutes from Lake Cumberland Regional Hospital
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
$12,076
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
5.37%
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%
$241,520
$241.5K
Cap Rate 7%
$172,514
$172.5K
Cap Rate 9%
$134,178
$134.2K
Market Conditions
NOI Build-Up for 1,315 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
$21.6K $16.44/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$20.1K $15.31/SF
− OpEx
−$8.1K −$6.12/SF
NOI
$12.1K $9.18/SF
Area
Pulaski County, KY
Vacancy
6.90%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
40.00%
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%
$241,520
Cap Rate 7%
$172,514
Cap Rate 9%
$134,178
Alternative Uses
Best Use
Healthcare Medical
$172.5K
$151.0K – $201.3K
NOI $12,076 @ 7.0% cap · market cap 5.37%
Second Best
Office B
$166.1K
$145.4K – $193.8K
NOI $11,630 @ 7.0% cap · market cap 5.17%
Theoretical Best
Specialty Retail
$224.0K
$196.0K – $261.4K
NOI $15,682 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,336
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Reception, kitchen, restroom, and flexible open workspace support varied office layouts.
Where is this office units located?
The property is located at 357 Langdon Street Somerset, KY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,315‑square‑foot office unit on a 0.23‑acre property; Three private offices plus reception, kitchen, restroom, and open meeting or workspace; Directly behind Kroger and two minutes from Lake Cumberland Regional Hospital
