Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    455 Three Springs Rd Bowling Green, KY 42104

    Sponsored
    For Sale
    $1,200,000

    Commercial - Bowling Green, KY

    Days on Market:
    9
    Last Refresh:
    Jan 26 at 12:06 pm

    Property Features for 455 Three Springs Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    053A-04A-028
    Interior features
    Finished

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1993
    Floors in Building
    2
    Flooring type
    Carpet, Laminate
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Mitchell

    Real-Consultants (270) 202-2994

    Listing agent Robert Mitchell (270) 202-2994 License #188380

    Listing date Jan 18, 2026

    MLS# RA20260365 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. 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

    Bowling Green Condos For Sale

    The property features eight condos, each with two bedrooms and one and a half bathrooms, encompassing approximately 1080 square feet. The units have a strong rental history and potential for Airbnb use, with high occupancy rates within the complex. The condo association is well-funded, with monthly fees of $50 per unit. The total price for all units is $1,200,000, with each unit priced at $150,000. The property is located in Bowling Green, KY. Local two-bedroom apartments average rent between $1,000 and $1,100 per month. Two-bedroom Airbnb units in the area generate between $100 and $160 per night, with a 40-60% occupancy rate, resulting in an estimated annual revenue of $15,000 to $22,000 per unit.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.4224739
    Latitude
    36.9359487

    Nearby Similar for Sale

    • New
      $699,000
      4,029 SF

      Bowling Green Horse Lover's Dream

      Residential farm with horse facilities on 5+/- acres.
      1600 Bays Fork Rd, Bowling Green, KY 42103
      View Details
    • $4,500,000
      1,588 SF

      Barren River Ranch Recreational Paradise

      561.87 acre hunting and recreational paradise with river frontage.
      1345 Jenkins Rd, Bowling Green, KY 42104
      View Details
    • $325,000
      1.00 Acre

      Hadley Store & Grill Opportunity

      Unique commercial property with store, restaurant, shop, and storage.
      12111 Morgantown Rd, Bowling Green, KY 42101
      View Details
    • $2,350,000
      9,658 SF

      Spacious Estate on 34 Acres

      Custom-built home with pond and barn on 34 acres.
      8425 Cemetery Rd, Bowling Green, KY 42103
      View Details
    • $299,000
      2,053 SF

      Residential Farm with Pond Views

      10-acre property with main home and mobile home.
      113 Rone Rd, Bowling Green, KY 42101
      View Details
    • $619,900
      4,000 SF

      Historic Two-Story Home Near College

      Early 20th-century home with original architectural elements and modern updates.
      531 12Th Ave, Bowling Green, KY 42101
      View Details
    • $365,000
      1,884 SF

      Residential Farm with Modern Updates

      Remodeled home on 7+ acres, close to town.
      4580 Morgantown Rd, Bowling Green, KY 42101
      View Details
    • $473,000
      0.12 Acres

      Bowling Green Multifamily Investment Property

      Multifamily property in Bowling Green, Kentucky, includes additional vacant home.
      408 Pearl St, Bowling Green, KY 42101
      View Details
    • New
      $319,500
      2,534 SF

      Charming Residential Farm in Bowling Green

      Spacious 4-bedroom home with large yard and detached outbuilding.
      809 Ridgecrest Way, Bowling Green, KY 42101
      View Details
    • $5,000,000
      3.00 Acres

      Bowling Green Warehouse For Sale

      Warehouse with offices, conference room, restrooms, break room, loading docks.
      323 Mitch Mcconnell Way, Bowling Green, KY 42101
      View Details
    • Contact for pricing
      3.00 Acres

      Bowling Green Warehouse For Sale

      Warehouse with offices, loading docks, and climate control for sale.
      323 Mitch Mcconnell Way, Bowling Green, KY 42101
      View Details
    • $5,500,000
      6.16 Acres

      Bowling Green Trucking Facility

      Trucking facility on 6.16 acres with two buildings.
      237 N Graham St, Bowling Green, KY 42101
      View Details

    FAQs

    What type of property is this?
    Apartment building - Eight condos with rental and Airbnb potential in Bowling Green.
    Where is this apartment building located?
    The property is located at 455 Three Springs Rd Bowling Green, KY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Strong rental history and Airbnb potential with estimated $15-22K annual revenue per unit.; - Eight 2BR/1.5BA condos, approximately 1080 sq ft each, offered as a package.; - Units are priced at $150K each, totaling $1.2M, representing a significant investment opportunity.
    (270) 202-2994
    Request Owner's contact information
    455 Three Springs Rd Bowling Green, KY 42104
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    455 Three Springs Rd
    Bowling Green, KY 42104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    455 Three Springs Rd Bowling Green, KY 42104
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Mitchell
    Real Estate License ID: 188380
    (270) 202-2994
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.