Metal Warehouse with High
For Sale
$550,000
74 Heritage Drive, Somerset, KY 42501
COMMERCIAL - Somerset, KY
Property Size8,200 SF
Lot Size2.00 Acres
Price / SF$67.07
Days on Market224
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
(859) 200-2084
Listed By:
Kenneth Degrant · License #244885
(859) 200-2084
Added: Jan 2
Changed: Aug 4
Last Checked: Aug 14 at 10:06AM
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 warehouse provides approximately 8,200 square feet of enclosed commercial space within a metal-roofed building constructed in 1970. The warehouse area measures 71 feet by 78 feet and includes two 12-foot garage doors for equipment, vehicle, or material access. Ceiling height reaches 13 feet along the sides and rises to 16 feet at the center, supporting a range of storage and operational needs.
The property encompasses 2 acres at 74 Heritage Drive in Somerset, Kentucky, within Pulaski County and ZIP Code 42501. Commercial zoning supports its current warehouse configuration, and the property is available for either sale or lease.
The property encompasses 2 acres at 74 Heritage Drive in Somerset, Kentucky, within Pulaski County and ZIP Code 42501. Commercial zoning supports its current warehouse configuration, and the property is available for either sale or lease.
Key Highlights
- Approximately 8,200 square feet of warehouse space
- Two 12‑foot garage doors
- Ceilings measure 13 feet high and reach 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
Property Profile
Current Use
Lease Details
13 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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Boat N Stuff Boat Storage — 31 Larrys Ln, Somerset, KY 42501
- Barrons Storage — 65 Jacks Ln, Somerset, KY 42501
- Cumberland Container Sales & Rentals, Inc — 74 Heritage Dr, Somerset, KY 42501
- U-Rental Storage — 635 Enterprise Dr, Somerset, KY 42501
- Pisgah Boat Storage — Somerset, KY 42503
Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned warehouse with two oversized garage doors and flexible sale or lease availability.
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: Approximately 8,200 square feet of warehouse space; Two 12‑foot garage doors; Ceilings measure 13 feet high and reach 16 feet at the center
