Restaurant Building Near Retail
For Sale
$615,492
8 Carol Rd, Winchester, KY 40391
Located across from Winchester Plaza with nearby Lowe’s, Kroger, Walmart, and CHI St. Joseph Medical Center.
Property Size3,444 SF
Price / SF$178.71
Days on Market69
Property Features for 8 Carol Rd
General Information
Standard status
Active
Size
3,444 SF
Property subtype
Commercial
Lease Term
±7.5 YRS
Building Details
Building Size
3,444 SF
Year Built
1983
Buildings
1
Listing Agency:
Matthews Real Estate Investment Services - Corporate
Listed By:
Tanner Sanford · License #370826 (TN)
(865) 419-0016
Source:
Matthews
Added: Aug 8
Changed: Oct 1
Last Checked: Oct 14 at 7:43PM
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 Matthews Real Estate Investment Services - Corporate
Investment Insights
Based on property information with market context.
This conventional restaurant property includes a ±3,444 SF building footprint constructed in 1983. The building provides an established physical base for restaurant operations and continued commercial use.
The property sits across from Winchester Plaza within a concentrated retail setting. Lowe’s Home Improvement, Kroger Plaza, Walmart, and CHI St. Joseph Medical Center are identified as nearby commercial and institutional destinations.
Lease provisions include 1.50% annual rent escalations. Reported operating metrics include a 4.88% rent-to-sales ratio, while several locations are described with mid- to short-term lease structures and two-year kick-out options.
The property sits across from Winchester Plaza within a concentrated retail setting. Lowe’s Home Improvement, Kroger Plaza, Walmart, and CHI St. Joseph Medical Center are identified as nearby commercial and institutional destinations.
Lease provisions include 1.50% annual rent escalations. Reported operating metrics include a 4.88% rent-to-sales ratio, while several locations are described with mid- to short-term lease structures and two-year kick-out options.
Key Highlights
- ±3,444 SF building footprint
- Constructed in 1983
- Across from Winchester Plaza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,087
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,740
$801.7K
Cap Rate 7%
$572,671
$572.7K
Cap Rate 9%
$445,411
$445.4K
Market Conditions
NOI Build-Up for 3,444 SF
Gross rent
$56.6K $16.44/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$53.4K $15.52/SF
− OpEx
−$13.4K −$3.88/SF
NOI
$40.1K $11.64/SF
Area
Clark County, KY
Vacancy
5.60%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,740
Cap Rate 7%
$572,671
Cap Rate 9%
$445,411
Alternative Uses
Best Use
Specialty Retail
$572.7K
$501.1K – $668.1K
NOI $40,087 @ 7.0% cap · market cap 6.51%
Second Best
Retail
$468.2K
$409.6K – $546.2K
NOI $32,771 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$872.8K
$763.7K – $1.02M
NOI $61,099 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Located across from Winchester Plaza with nearby Lowe’s, Kroger, Walmart, and CHI St. Joseph Medical Center.
Where is this conventional restaurant located?
The property is located at 8 Carol Rd Winchester, KY.
What is the asking price?
The asking price for this property is $615,492.
What are key features of this property?
This property features: ±3,444 SF building footprint; Constructed in 1983; Across from Winchester Plaza
