Historic Two-Story Retail Restaurant
38 Public Square Somerset, KY 42501
38 Public Square, Somerset, KY, 42501
$779,900
For Sale
$779,900
COMMERCIAL - Somerset, KY
Property Size5,000 SF
Price / SF$155.98
Days on Market255
Property Features for 38 Public Square
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-1C
- Security features
- Security System
- Standard status
- Active
- APN
- 061-7-1-03
- Size
- 5,000 SF
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Zoned, Heat Pump (Heating), Natural Gas
- Cooling system
- Gas (Cooling), Ceiling Fan(s), Heat Pump, Multi Units
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Rubber
Listing Agency
CENTURY 21 Advantage Realty
(606) 451-1021
3765 S Hwy 27, Somerset, KY
Listed by
Kathy Price Sears · License #192818
(606) 875-2120
Added: Nov 3, 2025 Checked: Jul 16 at 8:06 pm
MLS# 25505433
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 fully renovated, late-1800s two-story building offers 5,000 square feet and has been updated throughout with new HVAC, electric and lighting, plumbing, roof, and flooring on both levels. Interior improvements include hardwood flooring upstairs, an elevator lift for accessibility, and ADA-compliant restrooms. The building is configured for flexibility with two separate entrances.
According to the listing, the property sits directly on the square in the center of town and is positioned for high visibility, with hundreds of cars passing by daily. The second level features a full kitchenette equipped with a 3-compartment sink and grease trap, supporting food-service or event-style uses alongside the building’s dual-entrance layout. Zoned R-1C, the property is presented for sale at 38 Public Square in Somerset, Kentucky.
According to the listing, the property sits directly on the square in the center of town and is positioned for high visibility, with hundreds of cars passing by daily. The second level features a full kitchenette equipped with a 3-compartment sink and grease trap, supporting food-service or event-style uses alongside the building’s dual-entrance layout. Zoned R-1C, the property is presented for sale at 38 Public Square in Somerset, Kentucky.
Key Highlights
- 5,000 SF, two‑story brick building built in 1920 with rooftop rubber roof
- Directly on the square in the center of town, with two separate entrances for dual business, mixed‑use, or multiple tenants
- Renovated with new HVAC throughout plus gas and heat pump heating and cooling, including ceiling fans
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.2k | $16.44 |
| − Vacancy | −$2.7k | −$0.54 |
| EGI | $79.5k | $15.90 |
| − OpEx | −$19.9k | −$3.98 |
| NOI | $59.6k | $11.93 |
5,000 SF · lease $16.44/SF/yr · vacancy 3.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$851.8K
$745.4K – $993.8K
NOI $59,628 @ 7.0% cap · market cap 7.65%
Second Best
Retail
$814.2K
$712.5K – $950.0K
NOI $56,997 @ 7.0% cap · market cap 7.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Tangerine Moose
(Bike/Boat/Book/etc) Store
Morrison James
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Fully renovated two-story building on the town square with two entrances and an upstairs kitchenette with grease trap.
Where is this storefront property located?
The property is located at 38 Public Square Somerset, KY.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: 5,000 SF, two‑story brick building built in 1920 with rooftop rubber roof; Directly on the square in the center of town, with two separate entrances for dual business, mixed‑use, or multiple tenants; Renovated with new HVAC throughout plus gas and heat pump heating and cooling, including ceiling fans
