Office Building with Circular
For Sale
$229,900
504 E Mt Vernon St, Somerset, KY 42501
Circular driveway and rear parking provide practical access for clients and customers.
Property Size1,541 SF
Price / SF$149.19
Days on Market54
Property Features for 504 E Mt Vernon St
General Information
Standard status
Active
Size
1,541 SF
Property subtype
Commercial
Building Details
Buildings
1
Listing Agency:
Lakeland Realty
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 14
Changed: Nov 5
Last Checked: Nov 4 at 12:29PM
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 Lakeland Realty
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Investment Insights
Based on property information with market context.
This office building at 504 E Mt Vernon St offers a professional commercial setting in downtown Somerset. The property was previously used as an attorney’s office and includes a circular driveway for convenient vehicle access, along with rear parking for clients and customers.
Immediate possession is available at closing, supporting a straightforward transition for a new business or an organization relocating its operations. The downtown setting and existing office configuration provide a practical base for continued professional use.
Immediate possession is available at closing, supporting a straightforward transition for a new business or an organization relocating its operations. The downtown setting and existing office configuration provide a practical base for continued professional use.
Key Highlights
- Office building in downtown Somerset
- Circular driveway supports convenient vehicle access
- Rear parking available for clients and customers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,629
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,580
$272.6K
Cap Rate 7%
$194,700
$194.7K
Cap Rate 9%
$151,433
$151.4K
Market Conditions
NOI Build-Up for 1,541 SF
Gross rent
$21.1K $13.68/SF
− Vacancy
−$2.9K −$1.89/SF
EGI
$18.2K $11.79/SF
− OpEx
−$4.5K −$2.95/SF
NOI
$13.6K $8.84/SF
Area
Pulaski County, KY
Vacancy
13.80%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,580
Cap Rate 7%
$194,700
Cap Rate 9%
$151,433
Alternative Uses
Best Use
Office B
$194.7K
$170.4K – $227.2K
NOI $13,629 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$262.5K
$229.7K – $306.3K
NOI $18,377 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
623
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Circular driveway and rear parking provide practical access for clients and customers.
Where is this office building located?
The property is located at 504 E Mt Vernon St Somerset, KY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Office building in downtown Somerset; Circular driveway supports convenient vehicle access; Rear parking available for clients and customers
