Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1601 W 2nd Street Owensboro, KY 42301

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $279,900

    Retail, Free-standing - Owensboro, KY

    Type:Retail
    Added:
    Dec 12, 2025
    Days on Market:
    139
    Last Refresh:
    Apr 30 at 4:06 am

    Property Features for 1601 W 2nd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Paved or Surfaced
    Standard status
    Active Under Contract

    Building Details

    Flooring type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    George Wathen

    Listing agent George Wathen License #212188

    Listing office Solutions Real Estate Group Solutions Real Estate Group, Henderson, KY

    Listing date Dec 12, 2025

    MLS# 93755 Listing URL

    Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Owensboro Retail with Commercial Kitchen

    This retail property in Owensboro, Kentucky, offers diverse opportunities for various businesses. The building has undergone several updates over the past 7 years, including internal electrical wiring (excluding the electrical boxes), a new roof, and a new tankless water heater. It features a commercial kitchen and an ADA-compliant restroom. A fenced-in parking lot is included. The property also provides a kitchen/office area for employees. Located on the corner of Hanning Lane, it offers convenient access to English Park and the city's boat ramp. The owner currently operates a grocery delivery service from the location. Possession of the property will be available on March 1st, 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    RampStop Marine, Inc. Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • IGA — 201 Carter Rd, Owensboro, KY 42301

    Location Insight

    • Map
    • Local Demand
    City
    Owensboro
    County
    Daviess
    State
    Kentucky
    Longitude
    -87.1296824
    Latitude
    37.7741036

    Nearby Similar for Sale

    • $399,900

      Remodeled Commercial Building in Owensboro

      High-traffic location, ideal for retail, office, medical, or restaurant.
      2219 Frederica St, Owensboro, KY 42301
      View Details
    • $499,900

      Turnkey Retail Investment Opportunity

      Income-producing retail property with established tenant in high-visibility location.
      2101 W. Parrish Ave., Owensboro, KY 42301
      View Details
    • $1,499,900

      Turnkey Business Opportunity with Real Estate

      Established pool company, inventory, and real estate for sale.
      1431 & 1439 Bosley Rd, Owensboro, KY 42301
      View Details
    • $549,000
      17,564 SF

      Multi-Tenant Office Complex in Owensboro

      Two-story office building with income potential in a prime location.
      1700 Frederica Street, Owensboro, KY 42301
      View Details
    • $299,900

      Downtown Owensboro Industrial Building For Sale

      1,824 SF industrial building in downtown Owensboro, Kentucky.
      1000 W 2nd Street, Owensboro, KY 42301
      View Details
    • $2,170,000

      Turnkey Office Building For Sale

      Free-standing office building with strong income in Owensboro, KY.
      3520 New Hartford Road, Owensboro, KY 42303
      View Details
    • $335,000

      Medical/Professional Office Suite in Owensboro

      Premier medical/professional office suite in centralized Owensboro location.
      2816 Veach Rd, Unit 402, 403 & 404, Owensboro, KY 42303-6298
      View Details
    • $900,000

      Functional Industrial Property For Sale

      13,920 SF industrial property with office and warehouse space.
      1602 West 7th Street, Owensboro, KY 42301
      View Details
    • $975,000
      10,500 SF

      Move-in Ready Office Building

      10,500 sq ft office building near bypass in Owensboro.
      1650 Parrish Plaza Dr, Owensboro, KY 42301
      View Details
    • $1,150,000

      Versatile Warehouse with Modern Upgrades

      12,631 SF warehouse ideal for logistics, storage, or operations.
      1601 Triplett Street, Owensboro, KY 42303
      View Details
    • $725,000

      Corner Lot Office Building

      Highly visible office building on a corner lot with parking.
      2001 Frederica Street, Owensboro, KY 42303
      View Details
    • $2,600,000

      Owensboro Industrial Building For Sale

      40,000 SF industrial building ideal for manufacturing, warehousing, distribution.
      1620 West 7th Street, Owensboro, KY 42301
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property with commercial kitchen and recent updates in Owensboro.
    Where is this grocery and convenience store located?
    The property is located at 1601 W 2nd Street Owensboro, KY.
    What is the asking price?
    The asking price for this property is $279,900.
    What are key features of this property?
    This property features: Commercial kitchen included.; New roof.; New tankless water heater.
    (270) 316-5883
    We can help!
    Listing Contact
    George Wathen
    Real Estate License ID: 212188
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!