Functional Industrial Property For
1602 W 7th Street Owensboro, KY 42301
For Sale
$900,000
SINGLE_FAMILY - Owensboro, KY
Property Size13,920 SF
Lot Size0.98 Acres
Price / SF$64.66
Days on Market162
Property Features for 1602 W 7th Street
General Information
Property type
Residential
Property subtype
Office
Parking features
Off Street
Standard status
Active
Size
13,920 SF
Lot size
0.98 Acres
Utilities
Heating system
Natural Gas
Building Details
Building materials
Block, Steel Frame
Listing Agency:
Triple Crown Realty Group
(270) 926-9999
Listed By:
DAUGHERTY - PHELPS TEAM
(270) 313-7964
Added: Feb 17
Changed: May 28
Last Checked: Jul 29 at 12:06PM
MLS# 94129
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.
Investment Insights
Based on property information with market context.
This 13,920 square-foot industrial property features a functional mix of office and warehouse space. The property, zoned I-2, includes two 14-foot overhead doors and a flexible layout. It is suitable for distribution, light manufacturing, or contractor use. The property is situated on a 0.98-acre lot.
Key Highlights
- 13,920 SF industrial property offers substantial space.
- I‑2 zoning allows for a wide range of industrial uses.
- Includes (2) 14' overhead doors for efficient loading and unloading.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.9k | $6.96 |
| − Vacancy | −$4.7k | −$0.33 |
| EGI | $92.2k | $6.63 |
| − OpEx | −$13.8k | −$0.99 |
| NOI | $78.4k | $5.63 |
13,920 SF · lease $6.96/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$2.41M
$2.11M – $2.81M
NOI $168,629 @ 7.0% cap · market cap 18.74%
Second Best
Warehouse
$1.12M
$980.0K – $1.31M
NOI $78,398 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,492 @ 7.0% cap · market cap 19.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- World Classics Catering — 2510 W Parrish Ave, Owensboro, KY 42301
Frequently Asked Questions
What type of property is this?
Flex space - 13,920 SF industrial property with office and warehouse space.
Where is this flex space located?
The property is located at 1602 W 7th Street Owensboro, KY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 13,920 SF industrial property offers substantial space.; I‑2 zoning allows for a wide range of industrial uses.; Includes (2) 14' overhead doors for efficient loading and unloading.
