Historic Office
For Sale
$149,900
102 Washington Street, Alexandria, KY 41001
Brick office building with new A/C and heating, pocket doors, and stained glass windows.
Property Size800 SF
Days on Market35
Property Features for 102 Washington Street
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Building Details
Building Size
800 SF
Year Built
1911
Buildings
1
Listing Agency:
RE/MAX Victory + Affiliates
(859) 441-5333
Listed By:
Jim Schack · License #189779
(859) 441-5333
Source:
Bushrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 11:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Victory + Affiliates
Investment Insights
Based on property information with market context.
This single brick office building features new A/C and heating, along with pocket doors, stained woodwork, high ceilings, and stained glass windows. Interior character details include a Rookwood Pottery fireplace. The property also includes four parking spaces located in an adjoining lot.
The building is offered for sale and described as a great location for your business. It is positioned at 102 Washington St in Alexandria, KY.
Designed as a compact office facility, the building’s layout highlights period finishes and substantial interior volume created by its high ceilings.
The building is offered for sale and described as a great location for your business. It is positioned at 102 Washington St in Alexandria, KY.
Designed as a compact office facility, the building’s layout highlights period finishes and substantial interior volume created by its high ceilings.
Key Highlights
- Single brick office building with new A/C and heating unit
- 4 parking spaces in an adjoining lot
- Pocket doors and stained woodwork
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
$10,368
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
6.92%
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%
$207,360
$207.4K
Cap Rate 7%
$148,114
$148.1K
Cap Rate 9%
$115,200
$115.2K
Market Conditions
NOI Build-Up for 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
$17.3K $21.60/SF
− Vacancy
−$3.5K −$4.32/SF
EGI
$13.8K $17.28/SF
− OpEx
−$3.5K −$4.32/SF
NOI
$10.4K $12.96/SF
Area
Campbell County, KY
Vacancy
20.00%
Lease Rate
$21.60 /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%
$207,360
Cap Rate 7%
$148,114
Cap Rate 9%
$115,200
Alternative Uses
Best Use
Office B
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.4K
$192.0K – $256.0K
NOI $15,360 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 41001, KY
19,294
Population
7,387
Households
2.6
Avg Household Size
40
Median Age
35%
College-Educated
94%
High-School Grad
51.7 sq mi
ZIP Area
373
Density / Sq Mi
$102,468
Median Household Income
$57,834
Median Earnings
$1,113
Median Rent
$265,100
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 - Brick office building with new A/C and heating, pocket doors, and stained glass windows.
Where is this office building located?
The property is located at 102 Washington Street Alexandria, KY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Single brick office building with new A/C and heating unit; 4 parking spaces in an adjoining lot; Pocket doors and stained woodwork
