Office Building with Conference
For Sale
$239,500
257 N Main Street, Madisonville, KY 42431
Commercial Sale, Madisonville, KY
Property Size2,163 SF
Lot Size0.21 Acres
Price / SF$110.73
Days on Market191
Property Features for 257 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commer
Directions
Corner of Main and Noel Avenue
Subdivision
1 - Madisonville
Standard status
Active
Size
2,163 SF
Lot size
0.21 Acres
Amenities
conference room
reception area
kitchen
storage room
Listing Agency:
KEN GIBSON REALTORS
(270) 821-1242
Listed By:
Ken Gibson
(270) 871-1942
Added: Feb 13
Changed: Aug 20
Last Checked: Aug 23 at 8:06AM
MLS# 119606
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 2,163-square-foot office building offers a practical multi-room layout with a large private office featuring soundproofing panels and a half bath. Six additional offices, a conference room, reception area, kitchen with storage, two more half baths, and a storage/utility room support a range of professional office configurations. A new heat and air unit serves the original building.
The property occupies approximately 0.21 acres with 61.5 feet of frontage on N. Main Street. The site includes approximately 18 parking spaces and is positioned at a corner with a stoplight. Commercial zoning applies, and the property is located in Madisonville, Kentucky.
The property occupies approximately 0.21 acres with 61.5 feet of frontage on N. Main Street. The site includes approximately 18 parking spaces and is positioned at a corner with a stoplight. Commercial zoning applies, and the property is located in Madisonville, Kentucky.
Key Highlights
- 2,163 SF office building with six additional offices
- Large office includes soundproofing panels and a private half bath
- Conference room, reception area, kitchen storage, and utility room
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
$18,221
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
7.61%
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%
$364,420
$364.4K
Cap Rate 7%
$260,300
$260.3K
Cap Rate 9%
$202,456
$202.5K
Market Conditions
NOI Build-Up for 2,163 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
$31.1K $14.40/SF
− Vacancy
−$6.9K −$3.17/SF
EGI
$24.3K $11.23/SF
− OpEx
−$6.1K −$2.81/SF
NOI
$18.2K $8.42/SF
Area
Hopkins County, KY
Vacancy
22.00%
Lease Rate
$14.40 /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%
$364,420
Cap Rate 7%
$260,300
Cap Rate 9%
$202,456
Alternative Uses
Best Use
Office B
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.9K
$319.3K – $425.7K
NOI $25,541 @ 7.0% cap · market cap 10.66%
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
754
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-office commercial property with dedicated reception, kitchen storage, and on-site parking.
Where is this office building located?
The property is located at 257 N Main Street Madisonville, KY.
What is the asking price?
The asking price for this property is $239,500.
What are key features of this property?
This property features: 2,163 SF office building with six additional offices; Large office includes soundproofing panels and a private half bath; Conference room, reception area, kitchen storage, and utility room
