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    The Largest CRE Database in the US with Over 1 Million Listings

    1651 S Green St Henderson, KY 42420

    Sponsored
    For Sale
    $549,000

    Commercial - Henderson, KY

    Property size:
    4,400 SF
    Days on Market:
    19
    Last Refresh:
    Jan 26 at 1:06 pm

    Property Features for 1651 S Green St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Bathrooms
    4
    Parking features
    Off Street, Paved or Surfaced
    Interior features
    Handicap Design, Intercom, Smoke Alarm, Employee Lounge
    Exterior features
    Partially Fenced, Storage Building, Pole Sign, Doors Under 10 Ft., Grade Loading
    Fencing
    Fenced, Partial
    Accessibility
    Accessible Approach with Ramp
    Size
    4,400 SF

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Vinyl
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    LINDA MEUTH
    LINDA MEUTH

    ERA FIRST ADVANTAGE (812) 858-2400

    Listing agent MELINDA LUNTSFORD (270) 577-8701

    Listing date Jan 8, 2026

    MLS# 250256 Listing URL

    Copyright © 2026 Henderson Audubon 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.

    Learn more

    Property Insight Report

    Overview

    Adaptable Commercial Property in Henderson

    Located in Henderson, KY, this commercial property offers 4,400 square feet of space suitable for various business purposes. Constructed in 1989, the building is positioned near the bypass, providing accessibility for clients. The property features a commercial storefront with a double door entry and a wheelchair ramp. The interior layout includes a central hallway leading to eight rooms that can serve as offices or other functional spaces. Some of the oversized rooms could be built out for more offices. For safety, the building has four sixty-minute fire-rated exit doors. A hidden overhead door in the lunch room allows for loading and unloading of materials. The property includes an employee lounge equipped with a sink and washer/dryer hookups, as well as four restrooms, one of which is wheelchair accessible. A utility room features a mop station. The building is wired for security. The lunchroom includes a storage pantry, and the kitchen is equipped with cabinetry, a commercial sink, and a grease trap. The property has a mansard metal roof and a metal exterior. The concrete parking lot accommodates over 16 vehicles, with additional parking available at the rear of the building with alley access. Exterior lights have been updated in the last year. The interior doors have 8-hour fire ratings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kids Time Preschool ... Day Care Center

    Suggested Use

    Restaurant Law Firm Hair Salon Building Supply Clothing Store Gym & Fitness Auto Repair Shop Wholesale Shop Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Henderson
    State
    Kentucky
    Longitude
    -87.61264
    Latitude
    37.8176979

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    FAQs

    What type of property is this?
    Retail space - Versatile 4,400 sq ft commercial building near Henderson bypass.
    Where is this retail space located?
    The property is located at 1651 S Green St Henderson, KY.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: - Prime commercial location in Henderson, KY, near the bypass, offering accessibility without city congestion.; - Adaptable 4,400 sq ft space suitable for various commercial purposes, featuring 8 rooms with potential for expansion.; - Includes essential amenities such as a lunchroom with washer/dryer hookups, a kitchen with a commercial sink and grease trap, and 4 restrooms (one wheelchair accessible).
    (270) 577-7617
    Request Owner's contact information
    1651 S Green St Henderson, KY 42420
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    Henderson, KY 42420
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    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
    1651 S Green St Henderson, KY 42420
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    We can help!
    Listing Contact
    LINDA MEUTH
    LINDA MEUTH
    (270) 577-7617
    Learn more
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