Office Building with Expandable
For Sale
$530,000
123 Waddill, Madisonville, KY 42431
COMMERCIAL - Madisonville, KY
Property Size21,800 SF
Lot Size2.00 Acres
Price / SF$24.31
Days on Market787
Property Features for 123 Waddill
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Directions
N Main - turn on Waddill. Building on LEFT.
Subdivision
1 - Madisonville
Standard status
Active
Size
21,800 SF
Lot size
2.00 Acres
Building Details
Year built
1920
Listing Agency:
Coldwell Banker Complete Realty · Coldwell Banker Real Estate
(270) 821-3131
Listed By:
Cindy McKenzie
(270) 871-9954
Added: Jun 4, 2024
Changed: Jul 28
Last Checked: Jul 30 at 2:06PM
MLS# 115057
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.
Investment Insights
Based on property information with market context.
This property includes an office building area sized with individual offices of approximately 40 by 26 feet, with 2–4 professional offices noted as updated and available to rent. The main school portion has been emptied and broom cleaned. The remarks also indicate asbestos in the school area has been removed correctly, supporting readiness for continued build-out.
The property is listed with 2 acres of ground and zoning described as “C.” A separate lot fronting N. Franklin Ave. is included in the remarks and is described as not having the medical profession restrictions attributed to this property.
In addition to professional office use, the seller notes the site may be suitable for residential with a condition use permit, as well as for a venue or conference room for meetings. The available interior room sizes are described as large, and the site is presented as having room to build all around.
The property is listed with 2 acres of ground and zoning described as “C.” A separate lot fronting N. Franklin Ave. is included in the remarks and is described as not having the medical profession restrictions attributed to this property.
In addition to professional office use, the seller notes the site may be suitable for residential with a condition use permit, as well as for a venue or conference room for meetings. The available interior room sizes are described as large, and the site is presented as having room to build all around.
Key Highlights
- 1920‑built school building on 2 acres, with options for residential use (with condition use permit) or professional office/venue
- 2–4 professional offices have been updated and are rented now
- Offices are 40 x 26‑sized rooms
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 42431, KY
26,566
Population
12,569
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
166.7 sq mi
ZIP Area
159
Density / Sq Mi
$57,529
Median Household Income
$37,671
Median Earnings
$858
Median Rent
$151,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Updated professional offices within a former school building, plus 2 acres of ground for additional development and parking options.
Where is this office units located?
The property is located at 123 Waddill Madisonville, KY.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 1920‑built school building on 2 acres, with options for residential use (with condition use permit) or professional office/venue; 2–4 professional offices have been updated and are rented now; Offices are 40 x 26‑sized rooms
