End-Cap Retail
For Sale
$1,865,000
863 N Main St, Nicholasville, KY 40356
Right-end cap suite in a three-tenant strip along US-27, positioned within a dense national retail node.
Property Size12,020 SF
Lot Size1.35 Acres
Price / SF$145.70
Days on Market50
Property Features for 863 N Main St
General Information
Standard status
Active
Size
12,020 SF
Lot size
1.35 Acres
Property subtype
Retail - Strip
Building Details
Building Size
12,020 SF
Year Built
2008
Units
3
Tenancy
Multi
Listing Agency:
SVN | Stone Commercial Real Estate
(859) 264-0888
Listed By:
Justin Ryder · License #245461
Source:
Commercialcafe
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 11 at 2:40PM
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.
Suite 863 is an 8,000 SF right-end cap retail unit located within a three-tenant multi-tenant retail strip at 851-863 N. Main Street. The space is described as a flexible junior-box footprint with prominent end-cap visibility and abundant on-site parking, supporting a range of storefront and service-oriented uses.
The property sits on US-27, identified as Nicholasville’s primary north-south arterial and dominant retail corridor. The retail center is positioned within the Walmart Supercenter retail node in Jessamine County and is surrounded by major national and regional tenants, including Tractor Supply, Bargain Hunt, Planet Fitness, Workout Anytime, Walgreens, Advance Auto Parts, KOI Auto Parts, and Goodwill, along with a deep QSR and service cluster.
For tenants seeking a location within this established retail draw, Suite 863 offers a co-tenancy-friendly address in a concentrated commercial environment anchored by Walmart. The suite is available for occupancy in Fall 2026. Lease terms are offered on an NNN basis at $14.00/SF per year, providing a straightforward retail configuration for operators looking to serve the Nicholasville US-27 corridor.
The property sits on US-27, identified as Nicholasville’s primary north-south arterial and dominant retail corridor. The retail center is positioned within the Walmart Supercenter retail node in Jessamine County and is surrounded by major national and regional tenants, including Tractor Supply, Bargain Hunt, Planet Fitness, Workout Anytime, Walgreens, Advance Auto Parts, KOI Auto Parts, and Goodwill, along with a deep QSR and service cluster.
For tenants seeking a location within this established retail draw, Suite 863 offers a co-tenancy-friendly address in a concentrated commercial environment anchored by Walmart. The suite is available for occupancy in Fall 2026. Lease terms are offered on an NNN basis at $14.00/SF per year, providing a straightforward retail configuration for operators looking to serve the Nicholasville US-27 corridor.
Key Highlights
- 12,800 SF multi‑tenant retail center (851‑863 N. Main St.) built in 2008 on a 1.35‑acre site
- Three tenant suites; right‑end cap retail suite at 863 N. Main St. is 8,000 SF within a three‑tenant strip
- Located along US‑27 in Nicholasville within the Walmart Supercenter retail node with major co‑tenants nearby
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
$121,799
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
6.53%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Right-end cap suite in a three-tenant strip along US-27, positioned within a dense national retail node.
Where is this strip mall located?
The property is located at 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 (851‑863 N. Main St.) built in 2008 on a 1.35‑acre site; Three tenant suites; right‑end cap retail suite at 863 N. Main St. is 8,000 SF within a three‑tenant strip; Located along US‑27 in Nicholasville within the Walmart Supercenter retail node with major co‑tenants nearby
