605 Monticello StSomerset, KY 42501

  • Retail properties
  • 1,098 SF
For Sale
$1,750,000 View listing

Property Details for 605 Monticello St

Year built
1970
Construction
WOOD FRAME
Lot size
0.20 AC
Property size (Sq ft)
1,098 SF
Property type
Retail properties
Property subtype
Retail space
APN
061-6-1-28
APU
616128

Description

This exceptional 2-acre commercial land parcel presents a unique investment opportunity in Somerset, Kentucky. Located at 605 Monticello Street in Pulaski County, this property boasts a prime location within the 42501 zip code, offering excellent visibility and accessibility. The expansive lot size provides ample space for a wide range of commercial developments, catering to diverse business needs. With its strategic location and significant acreage, this property is ideally suited for businesses seeking to establish a strong presence in a thriving community. The asking price for this exceptional land opportunity is $1,750,000. Given the size and location, this represents a compelling investment proposition for developers and entrepreneurs alike. The property's latitude and longitude coordinates are 37.0692003 and -84.6172711 respectively, allowing for easy location verification and site planning. Serious inquiries are encouraged to explore the potential of this remarkable commercial land offering in Somerset, Kentucky. This is a rare opportunity to acquire a substantial land parcel in a desirable location, ready for immediate development. The property is zoned for commercial use, providing flexibility for various business ventures. Don't miss this chance to secure a valuable asset in a growing market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $276,926
    6.5%
    $255,624
    7%
    $237,365
  • Comparable approach

    Method
    Valuation
    Relative Method
    $235,200
    Geo Method
    $238,180
  • Alternative Use

    Use
    Valuation
    Residential
    $215,628
    Hospitality
    $197,515
    Educational
    $164,330
    Medical
    $169,981
    Retail
    $255,624
605 Monticello St, Somerset, Kentucky

Location Insight

City
Somerset
County
Pulaski
State
Kentucky
Latitude
37.0691
Longitude
-84.6173
CBSA code
43700
CBSA name
SOMERSET, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
-
$55,000
-
$55,000
-
$55,000
-
$55,000

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