Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2835 Highway 27 Somerset, KY 42501

    For Lease
    Contact for pricing

    Somerset, KY retail space: 7 units available.

    Lot size:
    293,613 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Grand Central Place, a recently renovated 293,613 square foot retail shopping center in Somerset, Kentucky, offers exceptional opportunities for businesses seeking high-visibility locations. Seven spaces are currently available, ranging from 750 to 25,000 contiguous square feet, perfect for a variety of retail, salon, or restaurant uses. The property boasts excellent access and visibility from US Highway 27, with monument signage opportunities for anchor tenants. Below-market rental rates and flexible lease terms are available. This thriving retail center is anchored by established national brands including Hobby Lobby, Dunham Sports, and TJ Maxx, with recent additions of Planet Fitness and Ollie's Bargain Outlet. Strategically located at 2835 S Hwy 27, Somerset, KY 42501, Grand Central Place benefits from a strong regional trade area encompassing Knox, Laurel, and Whitley Counties, serving a population exceeding 195,000. The proximity to Lake Cumberland further enhances the area's appeal, attracting significant tourist and weekend shopper traffic. The property is zoned commercial and features a total of 35 suites. This prime location is 73 miles south of Lexington, Kentucky, and 129 miles north of Knoxville, Tennessee.

    Property Features for 2835 Highway 27

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    293,613 SF

    Unit(s) available at that property

    Space
    Suite 180
    Size
    2,000 SF
    Space
    Suite 238
    Size
    750 SF
    Space
    Suite 248
    Size
    1,000 SF
    Space
    Suite 278
    Size
    2,500 SF
    Space
    Suite 300
    Size
    25,000 SF
    Space
    Suite 320
    Size
    5,038 SF
    Space
    Suite 401
    Size
    7,167 SF

    HighLights

    • 293,613 SF regional shopping center anchored by Hobby Lobby, TJ Maxx, and Dunham's Sports.
    • 750 - 25,000 SF of retail space available for lease.
    • Planet Fitness and Ollie's Bargain Outlet are now open.
    • High visibility and accessibility from US Highway 27 (26,818 ADT in 2019).
    • Serves a regional trade area with over 255,000 residents.
    • Pylon signage opportunities available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Keller Williams Commonwealth- ... Real Estate Agency A+ Rentals Store Casual Sail Men'S Clothing Store Wearhouse Clothing Company ... Clothing Store Western Union Money Transfer Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerset
    County
    Pulaski
    State
    Kentucky
    Longitude
    -84.6281272
    Latitude
    37.0519062

    Nearby Similar for Lease

    • $1.00 SF/Yr
      2,000 SF

      Somerset Warehouse with Finished Space

      7000 sqft Somerset building with finished and warehouse space.
      825 W Columbia St, Somerset, KY 42501
      View Details
    • $3,000 /Mo
      3,000 SF

      Retail Space Near Somerset Mall

      3,000 sq ft retail space in high-traffic area for lease.
      4360 Unit, Somerset, KY 42501
      View Details
    • $5,995 /Mo
      4,100 SF

      Retail Space on Highway 27

      Large retail space available for lease on Highway 27.
      4360 Unit, Somerset, KY 42501
      View Details
    • $4,832 /Mo
      2,094 SF

      Medical Office Space For Lease

      Medical office space for lease in the heart of medical community.
      55 Medpark Sq Unit, Somerset, KY 42501
      View Details
    • $2,750 /Mo
      6,000 SF

      Somerset Warehouse Space For Lease

      Versatile 6,000 sq. ft. warehouse space in prime location.
      480 University Dr, Somerset, KY 42503
      View Details
    • $28 SF/Yr
      1,980 SF

      Medical Office Space For Lease

      Medical office space in the heart of the medical community.
      55 Medpark Sq Unit, Somerset, KY 42501
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Somerset, KY retail space: 7 units available.
    Where is this individual retail property located?
    The property is located at 2835 Highway 27 Somerset, KY.
    What are key features of this property?
    This property features: 293,613 SF regional shopping center anchored by Hobby Lobby, TJ Maxx, and Dunham's Sports.; 750 - 25,000 SF of retail space available for lease.; Planet Fitness and Ollie's Bargain Outlet are now open.
    Request Owner's contact information
    2835 Highway 27 Somerset, KY 42501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2835 Highway 27
    Somerset, KY 42501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2835 Highway 27 Somerset, KY 42501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.