111 E Main St - Retail FOR SALE


Wilmore, KY 40390
$229,900 USD
859-396-7795
111 E Main St, Wilmore, KY for Sale
$229,900 USD
Retail - FOR SALE
1/3
null | 5.03% Cap Rate

111 E Main St
Wilmore, KY 40390


HIGHLIGHTS

  • Downtown Wilmore location steps from Asbury Theological Seminary and Asbury University.
  • Existing tenant on a month-to-month lease, providing opportunity for immediate income or user occupancy.
  • Corner visibility along East Main Street near other retail and service-based businesses.
  • Updated lease rate adjustments reflecting potential future growth in rental income.
  • Utilities include public water, sewer, electricity, and natural gas connections.
  • Building features include block construction, kitchen facilities, and adaptable interior layout.

OVERVIEW

Prime opportunity to own a well-located commercial building in the heart of Wilmore's active and walkable downtown district. This 1,867 SF (per appraisal) one-story building sits on a 30' x 100' lot just steps from Asbury Theological Seminary and minutes from Asbury University, surrounded by local shops, dining, and daily foot traffic. The property is currently occupied by Solomon's Porch, a well-established café, restaurant, and catering business that has served the community for over 20 years (business not included in sale). The tenant operates on a month-to-month basis and has expressed a desire to remain, offering immediate in-place income with flexibility for future use or redevelopment. Effective July 1, 2026, rent has been increased to $1,050 per month ($6.75/SF/YR), reflecting a meaningful adjustment from historically below-market levels under prior ownership and providing a foundation for potential future upside. Pursuant to the existing lease, Tenant holds a right of first refusal to purchase the property, including a ten (10) day period to elect to match the terms of any bona fide third-party offer. Ideal for investors seeking a value-add or stable income opportunity, as well as owner-users looking to establish a presence in one of Central Kentucky's most unique and close-knit communities.

FOR SALE DETAILS

PRICE

$229,900 USD

PRICE/SF

$123 USD /SF

CAP RATE

5.03%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

111 E Main Street, Wilmore

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

Business

APN/PARCEL ID

024-10-13-005.00

ASK ABOUT THIS PROPERTY

Chuck BeamanNew Doors Real EstateMore Info
859-396-7795

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Chuck BeamanNew Doors Real EstateMore Info
859-396-7795

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.