Diesel Repair Shop with Heavy-Duty
For Sale
$450,000
115 Tucker Schoolhouse Rd., Madisonville, KY 42431
Commercial Sale, Madisonville, KY
Property Size6,516 SF
Lot Size0.87 Acres
Price / SF$69.06
Days on Market450
Property Features for 115 Tucker Schoolhouse Rd.
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From North Main St, Turn left on Nebo Rd then right on Tucker Schoolhouse. Property on left.
Subdivision
1 - Madisonville
Standard status
Active
Size
6,516 SF
Lot size
0.87 Acres
Listing Agency:
HERITAGE HOMES REAL ESTATE
(270) 825-9090
Listed By:
Alice Carr
(270) 339-2673
Added: Jun 4, 2025
Changed: Aug 19
Last Checked: Aug 27 at 6:06PM
MLS# 117009
Copyright © 2026 Madisonville-Hopkins County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,516-square-foot automotive shop occupies 0.873 acres in Madisonville, Kentucky. The building was previously used for diesel mechanical work and includes shop space suited to semi-truck and heavy-equipment repairs. Its floors are constructed with 8-inch concrete, supporting demanding repair operations. Some tools and semi-truck parts are included with the property.
The property is located at 115 Tucker Schoolhouse Rd. in Madisonville, within Hopkins County and ZIP Code 42431. The parcel boundary extends to the edge of the concrete, while the adjoining grass area is owned by the City of Madisonville. Vehicles and equipment identified in the remarks, including a truck, trailer, race car, and tow truck, are not included.
The property is located at 115 Tucker Schoolhouse Rd. in Madisonville, within Hopkins County and ZIP Code 42431. The parcel boundary extends to the edge of the concrete, while the adjoining grass area is owned by the City of Madisonville. Vehicles and equipment identified in the remarks, including a truck, trailer, race car, and tow truck, are not included.
Key Highlights
- 6,516‑square‑foot automotive shop on 0.873 acres
- Previously operated as a diesel mechanic shop
- 8‑inch concrete flooring for heavy‑duty repair work
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,846
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$556,920
$556.9K
Cap Rate 7%
$397,800
$397.8K
Cap Rate 9%
$309,400
$309.4K
Market Conditions
NOI Build-Up for 6,516 SF
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.
Gross rent
$43.0K $6.60/SF
− Vacancy
−$3.2K −$0.50/SF
EGI
$39.8K $6.10/SF
− OpEx
−$11.9K −$1.83/SF
NOI
$27.8K $4.27/SF
Area
Hopkins County, KY
Vacancy
7.50%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$556,920
Cap Rate 7%
$397,800
Cap Rate 9%
$309,400
Alternative Uses
Best Use
Retail
$1.02M
$895.2K – $1.19M
NOI $71,612 @ 7.0% cap · market cap 15.91%
Second Best
Industrial
$397.8K
$348.1K – $464.1K
NOI $27,846 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.10M
$961.8K – $1.28M
NOI $76,941 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42431, KY
26,566
Population
12,569
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
166.7 sq mi
ZIP Area
159
Density / Sq Mi
$57,529
Median Household Income
$37,671
Median Earnings
$858
Median Rent
$151,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - Existing shop improvements include heavy-duty concrete flooring, select tools, and semi-truck parts.
Where is this auto shop located?
The property is located at 115 Tucker Schoolhouse Rd. Madisonville, KY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 6,516‑square‑foot automotive shop on 0.873 acres; Previously operated as a diesel mechanic shop; 8‑inch concrete flooring for heavy‑duty repair work
