6515 Highway 461Somerset, KY 42502

Property Details for 6515 Highway 461

Year built

1970

Construction

CONCRETE

Lot size

2.00 AC

Property size (Sq ft)

2,064 SF

Property type

Retail space

APN

112-0-0-50

APU

1120050

Description

This exceptional commercial property, situated on a desirable two-acre lot at 6515 Highway 461 in Somerset, Kentucky, presents a remarkable investment opportunity. Conveniently located between Mt. Vernon and Somerset, this property boasts a substantial 3,888 square feet of versatile space, ideally suited for a variety of commercial ventures. Its history as a thriving grocery, gas station, and deli speaks to its strong potential for continued success. The layout includes a spacious open retail area, perfect for showcasing merchandise or providing ample customer space. A well-equipped kitchen area and substantial storage space are also included, offering flexibility for various business models. The property's two-acre lot provides ample parking and potential for future expansion or outdoor amenities. The building's existing infrastructure offers a solid foundation for a new business or a revitalization of a previous concept. The property's prime highway location ensures high visibility and easy accessibility for customers. This is a rare opportunity to acquire a well-positioned commercial property with significant potential in a growing area. The asking price is $239,900. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $520,561

  6.5%

  $480,517

  7%

  $446,195

• Comparable approach

  Method

  Valuation

  Relative Method

  $442,124

  Geo Method

  $447,726

• Alternative Use

  Use

  Valuation

  Residential

  $405,334

  Hospitality

  $371,284

  Educational

  $308,904

  Medical

  $319,528

  Retail

  $480,517

Location Insight

City

Somerset

County

Pulaski

State

Kentucky

Latitude

37.2374

Longitude

-84.4345

CBSA code

43700

CBSA name

SOMERSET, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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