Building Details

Year built 1970

Listing Agency: CENTURY 21 Advantage Realty Show Phone

Listed By: J Daniel Hicks · License #222060 Show Phone

Added: Jul 12 Changed: Oct 2 Last Checked: Oct 16 at 5:06PM

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MLS# 26017836

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Investment Insights

Based on property information with market context.

This 6,254-square-foot mixed-use property contains four commercial spaces supported by multiple private offices, common-area restrooms, multiple entrances, secure vault rooms, and garage or storage areas. A large updated apartment with its own entrance is also part of the property, providing a distinct residential component within the building. The roof and gutters were replaced within the last 12 months.

Situated at 4821 S Highway 27 in Somerset, the property occupies 0.665 acres with Highway 27 frontage. Built in 1970, it combines commercial and residential space in a configuration suited to a range of business and occupancy arrangements.

Key Highlights

• 6,254‑square‑foot mixed‑use property on 0.665 acres
• Four commercial spaces with multiple private offices
• Large updated apartment with a private entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,354

Cap Rate

7.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,067,080 $1.1M

Cap Rate 7%

$762,200 $762.2K

Cap Rate 9%

$592,822 $592.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,254 SF

Gross rent

$93.8K $15.00/SF

− Vacancy

−$8.4K −$1.35/SF

EGI

$85.4K $13.65/SF

− OpEx

−$32.0K −$5.12/SF

NOI

$53.4K $8.53/SF

Area

Pulaski County, KY

Vacancy

9.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,067,080

Cap Rate 7%

$762,200

Cap Rate 9%

$592,822

Alternative Uses

Best Use

Mixed Use

$762.2K

$666.9K – $889.2K (±1% cap)

NOI $53,354 @ 7.0% cap · market cap 7.63%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.07M

$932.3K – $1.24M (±1% cap)

NOI $74,583 @ 7.0% cap · market cap 10.67%

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

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency Electrical Service Kitchen & Bath Showroom Law Firm Pharmacy Garden Center

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

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

251

Businesses Nearby

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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Four commercial spaces, office areas, and a separate apartment create a flexible property configuration along Highway 27.

Where is this mixed-use property located?

The property is located at 4821 S Highway 27 Somerset, KY.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 6,254‑square‑foot mixed‑use property on 0.665 acres; Four commercial spaces with multiple private offices; Large updated apartment with a private entrance