Office Unit with On-Site
For Sale
$125,000
2024 Park Avenue, Paducah, KY 42001
Commercial Sale, Paducah, KY
Property Size576 SF
Lot Size0.28 Acres
Price / SF$217.01
Days on Market199
Property Features for 2024 Park Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1
Zoning description
Commercial
Subdivision
Commercial
Directions
1-24 Exit 4; turn right on Hinkleville Road; stay straight past Noble Park; property is on the corner of 21st Street and Park Avenue
Standard status
Active
APN
104-14-15-001
Size
576 SF
Lot size
0.28 Acres
Utilities
Sewer type
Public Sewer
Building Details
Year built
1955
Building materials
Brick
Roof type
Flat, Rubber
Listing Agency:
eXp Realty, LLC
(888) 624-6448
Listed By:
Missy Brown · License #262543
(270) 519-2134
Added: Feb 26
Changed: Sep 12
Last Checked: Sep 13 at 12:06AM
MLS# 26016464
Copyright © 2026 ImagineMLS. 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 576-square-foot office unit occupies a 0.283-acre commercial parcel in a 1955 brick building. The property has a flat rubber roof, public sewer service, and approximately 10 existing parking spaces. Additional land is available for potential parking expansion if paved. The property carries C-1 zoning and is suited to office-oriented commercial occupancy.
Located on Park Avenue in Paducah, the property sits between the Paducah Downtown Riverfront and the Paducah Sports Park. Its setting provides direct street access and proximity to established civic and recreational destinations. The compact building and surrounding land offer a straightforward format for an owner-user or commercial operator.
Located on Park Avenue in Paducah, the property sits between the Paducah Downtown Riverfront and the Paducah Sports Park. Its setting provides direct street access and proximity to established civic and recreational destinations. The compact building and surrounding land offer a straightforward format for an owner-user or commercial operator.
Key Highlights
- 576 square feet of office space on a 0.283‑acre parcel
- Approximately 10 existing parking spaces
- Additional land available for potential paved parking expansion
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
$5,508
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
4.41%
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%
$110,160
$110.2K
Cap Rate 7%
$78,686
$78.7K
Cap Rate 9%
$61,200
$61.2K
Market Conditions
NOI Build-Up for 576 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
$8.6K $15.00/SF
− Vacancy
−$1.3K −$2.25/SF
EGI
$7.3K $12.75/SF
− OpEx
−$1.8K −$3.19/SF
NOI
$5.5K $9.56/SF
Area
McCracken County, KY
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$110,160
Cap Rate 7%
$78,686
Cap Rate 9%
$61,200
Alternative Uses
Best Use
Office B
$78.7K
$68.9K – $91.8K
NOI $5,508 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$120.0K
$105.0K – $140.0K
NOI $8,401 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Office units - Brick commercial space on Park Avenue with public sewer and additional land that could support expanded parking.
Where is this office units located?
The property is located at 2024 Park Avenue Paducah, KY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 576 square feet of office space on a 0.283‑acre parcel; Approximately 10 existing parking spaces; Additional land available for potential paved parking expansion
