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    Catlettsburg Commercial Building with Expansion Potential Title is generated by Realmo AI

    8308 Lake Bonita Road, Catlettsburg, KY 41129

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    Claim this Listing
    For Sale
    $6,500,000

    Mixed - Catlettsburg, KY

    Property size:
    35,748 SF
    Lot size:
    1.95 Acres
    Price / SF:
    $181/SF
    Added:
    Jan 28, 2026
    Days on Market:
    104
    Last Refresh:
    May 12 at 9:06 am

    Property Features for 8308 Lake Bonita Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    041-00-00-001.01
    Size
    35,748 SF
    Lot size
    1.95 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2015
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Josh McGrath

    Listing agent Josh McGrath

    Listing office Better Homes & Gardens Real Estate Central, LLC 928 CROSS LANES DRIVE, CROSS LANES, KY

    Listing date Jan 28, 2026

    MLS# 183052 Listing URL

    Copyright © 2026 Huntington 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.

    HighLights

    • Prime commercial building in a high‑traffic location off I‑64 (Exit 191) with 38,000+ vehicles daily.
    • Leases in place with expansion potential from 5 to 7 leasable spaces.
    • Built in 2015, featuring 35,748 SF on 1.95 acres with 155 parking spaces.
    • Located near major employers (King's Daughters, Marathon, etc.) and ideal for office, medical, or retail use.
    • Versatile lower level with existing salon, office, and unfinished unit suitable for retail, medical, or restaurant with drive‑through potential.
    • Includes existing desks, cubicles, and conference tables on the 2nd and 3rd floors.

    Overview

    This three-story commercial building in Catlettsburg, Kentucky, offers leases in place and expansion potential. Constructed in 2015, the 35,748 square foot property is situated on 1.95 acres with 155 parking spaces. The location, just off Exit 191 at US Hwy 23 and I-64, benefits from high traffic volume, with over 38,000 vehicles passing daily, and provides access to the Kentucky, West Virginia, and Ohio tri-state area. Currently, the building features five leasable spaces, with the potential to create seven spaces by dividing the upper floors. The lower level includes a salon with two bathrooms, an office with two bathrooms and a conference room, and an unfinished unit suitable for retail, medical, or restaurant use with a drive-through. The upper floors are equipped with kitchens, shared restrooms, and conference rooms. Desks, cubicles, and conference tables on the second and third floors are included. Zoned commercial, the property is suitable for office, medical, or retail use and is located near major employers such as King's Daughters, Marathon, AK Steel, Cabell Huntington Hospital, St. Mary's Medical Center, Ohio Valley Health, and Marshall University.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ENTRUST Solutions Engineering Consultant EN Engineering Engineering Consultant Avalon Salon & Sugar ... Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Catlettsburg
    County
    Boyd
    State
    Kentucky
    Longitude
    -82.609602
    Latitude
    38.385199

    FAQs

    What type of property is this?
    Mixed-use property - Three-story commercial building in high-traffic area near I-64.
    Where is this mixed-use property located?
    The property is located at 8308 Lake Bonita Road Catlettsburg, KY.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Prime commercial building in a high‑traffic location off I‑64 (Exit 191) with 38,000+ vehicles daily.; Leases in place with expansion potential from 5 to 7 leasable spaces.; Built in 2015, featuring 35,748 SF on 1.95 acres with 155 parking spaces.
    (304) 419-1750
    We can help!
    Listing Contact
    Josh McGrath
    Learn More
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    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.

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