Single-Story Office
For Sale
$999,000
3030 Burlew Boulevard, Owensboro, KY 42303
COMMERCIAL SALES, Owensboro, KY
Property Size4,800 SF
Lot Size1.54 Acres
Price / SF$208.13
Days on Market72
Property Features for 3030 Burlew Boulevard
General Information
Property type
Residential
Property subtype
Office
Subdivision
EAST
Standard status
Active
Lot size
1.54 Acres
Utilities
Heating system
Natural Gas
Amenities
drive-thru
Building Details
Year built
1995
Building materials
Vinyl Siding
Listing Agency:
Greater Owensboro Realty Co.
(270) 926-5000
Listed By:
Jim Estes · License #39525
(270) 929-4400
Added: Jun 29
Changed: Sep 4
Last Checked: Sep 8 at 11:06AM
MLS# 94024
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 single-level office property provides approximately 4,800 square feet within a professional commercial setting. The building dates to 1995, features vinyl siding, and is heated by natural gas. Customer parking and a drive-through window are included in the existing improvements.
The property occupies 1.536 acres at 3030 Burlew Boulevard in Owensboro, Kentucky 42303. Its one-story configuration and established site improvements support a straightforward office use with convenient on-site access for visitors.
The property occupies 1.536 acres at 3030 Burlew Boulevard in Owensboro, Kentucky 42303. Its one-story configuration and established site improvements support a straightforward office use with convenient on-site access for visitors.
Key Highlights
- Approximately 4,800 square feet of office space
- 1.536‑acre property at 3030 Burlew Boulevard, Owensboro, KY 42303
- Single‑level building configuration
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
$36,720
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
3.68%
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%
$734,400
$734.4K
Cap Rate 7%
$524,571
$524.6K
Cap Rate 9%
$408,000
$408.0K
Market Conditions
NOI Build-Up for 4,800 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
$57.6K $12.00/SF
− Vacancy
−$8.6K −$1.80/SF
EGI
$49.0K $10.20/SF
− OpEx
−$12.2K −$2.55/SF
NOI
$36.7K $7.65/SF
Area
Daviess County, KY
Vacancy
15.00%
Lease Rate
$12.00 /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%
$734,400
Cap Rate 7%
$524,571
Cap Rate 9%
$408,000
Alternative Uses
Best Use
Office B
$524.6K
$459.0K – $612.0K
NOI $36,720 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$859.6K
$752.1K – $1.00M
NOI $60,170 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 42303, KY
41,877
Population
18,055
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
89%
High-School Grad
48.8 sq mi
ZIP Area
858
Density / Sq Mi
$63,010
Median Household Income
$41,272
Median Earnings
$941
Median Rent
$183,400
Median Home Value
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 building - Professional commercial space includes customer parking and a drive-through window.
Where is this office building located?
The property is located at 3030 Burlew Boulevard Owensboro, KY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approximately 4,800 square feet of office space; 1.536‑acre property at 3030 Burlew Boulevard, Owensboro, KY 42303; Single‑level building configuration
