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

    514 Center St E Madisonville, KY 42431

    Sponsored
    For Sale
    $59,900

    Business Opportunity,Commercial,Other - Madisonville, KY

    Lot size:
    0.34 Acres
    Days on Market:
    248
    Last Refresh:
    Feb 5 at 4:06 am

    Property Features for 514 Center St E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Parking features
    None
    Interior features
    Other-See Remarks
    Exterior features
    Other-See Remarks
    Appliances
    Other
    Lot size
    0.34 Acres

    Utilities

    Heating system
    See Remarks (Heating)
    Cooling system
    None (Cooling)

    Building Details

    Building materials
    Other
    Roof type
    Other
    Architectural style
    Other
    Additional Structures
    See Remarks

    We can help!

    Listing Contact
    Melvin Hicklin
    Melvin Hicklin

    Hicklin Real Estate (270) 836-1119

    Listing agent Melvin Hicklin (270) 836-1119

    Listing date Jun 3, 2025

    MLS# 117007 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Commercial Lot on High Traffic

    This level commercial lot is situated on a high-traffic area of East Center Street. The property includes existing water and sewer taps from a previously removed residence, along with a curb cut in the sidewalk for convenient entrance access. It features 70 feet of frontage on East Center Street, with a depth of 209 feet on the east line and 211 feet on the west line. The location is next to Mr. Taco. According to KYDOT data from 2020, the daily traffic count is 5,304 cars. An old garage on the property has had new shingles installed within the past year, presenting a commercial opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Madisonville
    County
    Hopkins
    State
    Kentucky
    Longitude
    -87.508425
    Latitude
    37.329006

    Nearby Similar for Sale

    • $650,000
      4,534 SF

      Turnkey Madisonville Venue Opportunity

      Fully operational short-term rental and event venue with residence included.
      231 S Main St, Madisonville, KY 42431
      View Details
    • $850,000
      812 SF

      Madisonville Duplexes For Sale

      Five duplexes with potential for increased rental income.
      Cindy Dr, Madisonville, KY 42431
      View Details
    • $529,900
      3,025 SF

      Remodeled Farmhouse on Rolling Acres

      Spacious 3-bedroom home on 16.7 acres with income potential.
      395 Carroll Gentry Rd, Madisonville, KY 42431
      View Details
    • $579,000
      21,800 SF

      Versatile Madisonville Property: Development Potential

      Two-acre property suitable for residential, office, or apartments.
      123 Waddill Ave, Madisonville, KY 42431
      View Details
    • $209,900
      1,480 SF

      Madisonville Triplex with Development Potential

      Triplex with potential for additional dwelling on adjacent lot.
      906 Edwards, Madisonville, KY 42243
      View Details
    • $189,000
      2,550 SF

      Madisonville Commercial Property with Shop

      Commercial property featuring shop area, maintenance bays, and office space.
      436 E Center St, Madisonville, KY 42431
      View Details
    • Contact for pricing
      1,842 SF

      Newly Renovated Office Space

      Downtown Madisonville commercial office space for lease.
      1 S Main St, Madisonville, KY 42431
      View Details
    • $475,000
      6,268 SF

      Downtown Madisonville Versatile Commercial Building

      Versatile 6,265 SF commercial building in downtown Madisonville, KY.
      18 Sugg St, Madisonville, KY 42431
      View Details
    • $140,000
      1,200 SF

      Madisonville Office with Lease Option

      1200 sq ft office space with lease-to-own opportunity.
      425 S Main St, Madisonville, KY 42431
      View Details
    • $330,000

      Commercial Land in High-Traffic Area

      Commercial land in a high-traffic area near I-69.
      51 Madison Square Dr, Madisonville, KY 42431
      View Details
    • $185,000
      2,880 SF

      Madisonville Duplex with Rental Income

      Duplex in Madisonville, KY with existing leases.
      261/263 Weldon Ave, Madisonville, KY 42431
      View Details
    • Contact for pricing
      1,440 SF

      Drive-Thru Ready Commercial Building

      960 sq ft brick building with drive-thru lanes for lease.
      35 Sugg St, Madisonville, KY 42431
      View Details

    FAQs

    What type of property is this?
    Commercial land - Level commercial lot with utilities on high traffic street.
    Where is this commercial land located?
    The property is located at 514 Center St E Madisonville, KY.
    What is the asking price?
    The asking price for this property is $59,900.
    What are key features of this property?
    This property features: - High traffic location on East Center Street with 5,304 cars daily.; - Level commercial lot with 70' frontage.; - Water and sewer taps already on the lot.
    (270) 836-1119
    Request Owner's contact information
    514 Center St E Madisonville, KY 42431
    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.
    514 Center St E
    Madisonville, KY 42431
    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
    514 Center St E Madisonville, KY 42431
    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
    Melvin Hicklin
    Melvin Hicklin
    Real Estate License ID: KY-54214
    (270) 836-1119
    Learn more
    Google sign-in failed. Please try again or use another login method.