Warehouse with Tall
For Sale
$550,000
74 Heritage Drive, Somerset, KY 42501
Commercial Sale, Somerset, KY
Property Size8,200 SF
Lot Size2.00 Acres
Price / SF$67.07
Days on Market273
Property Features for 74 Heritage Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Commercial
Directions
Use the left 2 lanes to turn left onto KY-914 W/Southeastern Byp Use the left lane to turn left onto US Hwy 27 S Turn left onto Heritage Dr
Standard status
Active
APN
063-1-3-77
Size
8,200 SF
Lot size
2.00 Acres
Building Details
Year built
1970
Roof type
Metal
Listing Agency:
High Point Realty & Auction
Listed By:
Kenneth Degrant · License #244885
(859) 200-2084
Added: Jan 2
Changed: Sep 6
Last Checked: Oct 2 at 1:06PM
MLS# 26000092
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 8,200-square-foot warehouse includes two 12-foot garage doors and an interior layout measuring 71 feet by 78 feet. Ceiling height is 13 feet, increasing to 16 feet at the center, and the building has a metal roof. Commercial zoning supports its current warehouse classification.
The property occupies 2 acres at 74 Heritage Drive in Somerset, Kentucky, within Pulaski County. Constructed in 1970, the building offers a dedicated warehouse facility with substantial overhead access and interior clearance for commercial operations.
The property occupies 2 acres at 74 Heritage Drive in Somerset, Kentucky, within Pulaski County. Constructed in 1970, the building offers a dedicated warehouse facility with substantial overhead access and interior clearance for commercial operations.
Key Highlights
- 8,200‑square‑foot warehouse on a 2‑acre site
- Two 12‑foot garage doors
- Ceiling height reaches 16 feet at the center
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
$48,331
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
8.79%
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%
$966,620
$966.6K
Cap Rate 7%
$690,443
$690.4K
Cap Rate 9%
$537,011
$537.0K
Market Conditions
NOI Build-Up for 8,200 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
$61.0K $7.44/SF
− Vacancy
−$4.1K −$0.51/SF
EGI
$56.9K $6.93/SF
− OpEx
−$8.5K −$1.04/SF
NOI
$48.3K $5.89/SF
Area
Pulaski County, KY
Vacancy
6.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$966,620
Cap Rate 7%
$690,443
Cap Rate 9%
$537,011
Alternative Uses
Best Use
Warehouse
$690.4K
$604.1K – $805.5K
NOI $48,331 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,790 @ 7.0% cap · market cap 17.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
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- Boat N Stuff Boat Storage — 31 Larrys Ln, Somerset, KY 42501
Frequently Asked Questions
What type of property is this?
Warehouse - Metal-roof industrial building with commercial zoning and a two-acre site.
Where is this warehouse located?
The property is located at 74 Heritage Drive Somerset, KY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 8,200‑square‑foot warehouse on a 2‑acre site; Two 12‑foot garage doors; Ceiling height reaches 16 feet at the center
