Multi-Tenant Retail
For Sale
$1,865,000
851 - 863 N Main St, Nicholasville, KY 40356
B-2-zoned retail property with multiple suites, on-site parking, and exposure along N. Main Street.
Property Size12,800 SF
Lot Size1.35 Acres
Price / SF$145.70
Days on Market139
Property Features for 851 - 863 N Main St
General Information
Standard status
Active
Size
12,800 SF
Lot size
1.35 Acres
Property subtype
Retail
Zoning
B-2
Additional Details
Asking Price
$1,865,000
Traffic Count
18,200 vehicles/day
Amenities
Drive-Thru
Building Details
Year Built
2008
Tenancy
Multi-Tenant
Listing Agency:
SVN Stone Commercial Real Estate
Listed By:
Justin Ryder · License ##237780
(859) 447-3285
Source:
Kcrea.resimplifi
Added: May 29
Changed: Oct 10
Last Checked: Oct 12 at 4:42PM
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 SVN Stone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 12,800-square-foot retail center contains three tenant suites on a 1.35-acre parcel. Constructed in 2008, the property includes an 8,000-square-foot end-cap junior-box suite with signage exposure to N. Main Street. B-2 zoning supports retail, fitness, medical, dollar-format, furniture, and owner-occupant uses, while on-site parking serves the center.
The property sits along US-27 and N. Main Street in Nicholasville’s Walmart-oriented commercial corridor. Nearby retailers and service businesses include Walmart Supercenter, Tractor Supply, Bargain Hunt, Planet Fitness, Walgreens, and Advance Auto Parts. The corridor records approximately 18,200 vehicles per day, according to KYTC, and the site is within the Lexington-Fayette MSA.
The center combines multiple suites with an end-cap configuration and existing tenant income. The 8,000-square-foot junior-box space is identified as potentially available in Fall '26 and is also offered for lease on an NNN structure.
The property sits along US-27 and N. Main Street in Nicholasville’s Walmart-oriented commercial corridor. Nearby retailers and service businesses include Walmart Supercenter, Tractor Supply, Bargain Hunt, Planet Fitness, Walgreens, and Advance Auto Parts. The corridor records approximately 18,200 vehicles per day, according to KYTC, and the site is within the Lexington-Fayette MSA.
The center combines multiple suites with an end-cap configuration and existing tenant income. The 8,000-square-foot junior-box space is identified as potentially available in Fall '26 and is also offered for lease on an NNN structure.
Key Highlights
- 12,800 SF multi‑tenant retail center with three tenant suites
- 1.35‑acre site at 851 - 863 N Main St, Nicholasville, KY 40356
- 8,000 SF right end‑cap junior‑box suite with N. Main Street signage exposure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,799
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,435,980
$2.4M
Cap Rate 7%
$1,739,986
$1.7M
Cap Rate 9%
$1,353,322
$1.4M
Market Conditions
NOI Build-Up for 12,800 SF
Gross rent
$184.3K $14.40/SF
− Vacancy
−$10.3K −$0.81/SF
EGI
$174.0K $13.59/SF
− OpEx
−$52.2K −$4.08/SF
NOI
$121.8K $9.52/SF
Area
Jessamine County, KY
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,435,980
Cap Rate 7%
$1,739,986
Cap Rate 9%
$1,353,322
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,799 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $227,082 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
18,200 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
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?
Shopping center - B-2-zoned retail property with multiple suites, on-site parking, and exposure along N. Main Street.
Where is this shopping center located?
The property is located at 851 - 863 N Main St Nicholasville, KY.
What is the asking price?
The asking price for this property is $1,865,000.
What are key features of this property?
This property features: 12,800 SF multi‑tenant retail center with three tenant suites; 1.35‑acre site at 851 - 863 N Main St, Nicholasville, KY 40356; 8,000 SF right end‑cap junior‑box suite with N. Main Street signage exposure
