Historic Restaurant and Event
921 Monmouth Street Newport, KY 41071
921 Monmouth Street, Newport, KY, 41071
$899,900
For Sale
$899,900
Two-level historic building with a fully equipped restaurant first floor and a 16+ foot ceiling event-style second floor.
Property Size6,558 SF
Price / SF$137.22
Days on Market49
Property Features for 921 Monmouth Street
General Information
- Standard status
- Active
- Size
- 6,558 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1875
Listing agency
Pivot Realty Group
(859) 466-0243
Listed by
Mark Ramler · License #221336
(859) 466-0243
Source
Compass
Added: Jun 4 Updated: Jul 21 at 7:19AM Checked: Jul 21 at 7:19AM
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 Pivot Realty Group
Investment Insights
Based on property information with market context.
This historic two-level building offers a restaurant-ready first floor and a spacious second floor with event-style character. The first level includes a storefront with large display windows and natural light, along with kitchen equipment and a large commercial hood system. It also includes two walk-in coolers, a bar area with drink stations, seating and fixtures, and three restrooms including an ADA-compliant restroom. A full basement provides substantial storage and support space.
The second floor features soaring 16+ foot ceilings and an expansive open floor plan. It was originally constructed as a ballroom and skating rink, and it can be accessed by a dedicated entrance from Monmouth Street, as well as via elevator or interior staircase. Additional amenities include off-street parking spaces behind the building accessed from the alley, and a large public parking lot across the street at the City Building.
Located within Newport’s Central Business District and the Monmouth Street Entertainment District (DORA), the property is described as having flexible CBD zoning supporting a wide variety of uses.
The second floor features soaring 16+ foot ceilings and an expansive open floor plan. It was originally constructed as a ballroom and skating rink, and it can be accessed by a dedicated entrance from Monmouth Street, as well as via elevator or interior staircase. Additional amenities include off-street parking spaces behind the building accessed from the alley, and a large public parking lot across the street at the City Building.
Located within Newport’s Central Business District and the Monmouth Street Entertainment District (DORA), the property is described as having flexible CBD zoning supporting a wide variety of uses.
Key Highlights
- More than 6,500 SF across two levels in Newport’s Central Business District, housed in a historic building built in 1875.
- First‑floor restaurant space with storefront large display windows and abundant natural light.
- Included restaurant equipment: all kitchen equipment, large commercial hood system, two walk‑in coolers, bar area, drink stations, tables, chairs, barstools, and fixtures.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $107.8k | $16.44 |
| − Vacancy | −$3.5k | −$0.54 |
| EGI | $104.3k | $15.90 |
| − OpEx | −$26.1k | −$3.98 |
| NOI | $78.2k | $11.93 |
6,558 SF · lease $16.44/SF/yr · vacancy 3.28% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.42M
NOI $84,992 @ 7.0% cap · market cap 9.44%
Second Best
Specialty Retail
$1.12M
$977.6K – $1.30M
NOI $78,208 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,914 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-level historic building with a fully equipped restaurant first floor and a 16+ foot ceiling event-style second floor.
Where is this conventional restaurant located?
The property is located at 921 Monmouth Street Newport, KY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: More than 6,500 SF across two levels in Newport’s Central Business District, housed in a historic building built in 1875.; First‑floor restaurant space with storefront large display windows and abundant natural light.; Included restaurant equipment: all kitchen equipment, large commercial hood system, two walk‑in coolers, bar area, drink stations, tables, chairs, barstools, and fixtures.
