Drive-Through Retail
For Sale
$435,000
1401 Adams Street, Bowling Green, KY 42101
Retail building with a drive-through, currently operating as a liquor store near Western Kentucky University.
Property Size1,500 SF
Price / SF$290
Days on Market486
Property Features for 1401 Adams Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
General Commercial
Amenities
drive-through
Central Air
3
Tile
Metal
Parking.
6 Parking Spaces. Lot, Paved Driveway.
.12
Sidewalks. City Road.
Building Details
Year Built
1970
Stories
1
Listing Agency:
Keller Williams First Choice R
(270) 782-1811
Listed By:
Tony Huynh · License #74305
Source:
Xome
Added: Apr 25, 2025
Changed: Aug 12
Last Checked: Aug 23 at 3:40AM
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 Keller Williams First Choice R
Investment Insights
Based on property information with market context.
This commercial building features a convenient drive-through and is currently operating as a liquor store. The business is available for an additional $125,000 plus inventory, offering the option to purchase the real estate along with the ongoing operation.
The property is located directly across the street from Western Kentucky University, with visibility and high foot traffic called out as key advantages for retail, restaurant, or service use.
For buyers seeking a storefront presence with drive-through convenience, this building presents a straightforward package in an active area of Bowling Green.
The property is located directly across the street from Western Kentucky University, with visibility and high foot traffic called out as key advantages for retail, restaurant, or service use.
For buyers seeking a storefront presence with drive-through convenience, this building presents a straightforward package in an active area of Bowling Green.
Key Highlights
- 1,500 SF commercial building currently operating as a liquor store
- Drive‑through included for convenient customer access
- Directly across the street from Western Kentucky University
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
$16,485
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
3.79%
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%
$329,700
$329.7K
Cap Rate 7%
$235,500
$235.5K
Cap Rate 9%
$183,167
$183.2K
Market Conditions
NOI Build-Up for 1,500 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
$24.7K $16.44/SF
− Vacancy
−$1.1K −$0.74/SF
EGI
$23.6K $15.70/SF
− OpEx
−$7.1K −$4.71/SF
NOI
$16.5K $10.99/SF
Area
Warren County, KY
Vacancy
4.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
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%
$329,700
Cap Rate 7%
$235,500
Cap Rate 9%
$183,167
Alternative Uses
Best Use
Retail
$235.5K
$206.1K – $274.8K
NOI $16,485 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.3K
$289.9K – $386.5K
NOI $23,190 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Hotels & Casinos 35%
Dollar General
Shops & Services
7,920 visits/mo
0.1 miles
Hyatt Place Bowling Green
Hotels & Casinos
4,233 visits/mo
0.2 miles
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Retail space - Retail building with a drive-through, currently operating as a liquor store near Western Kentucky University.
Where is this retail space located?
The property is located at 1401 Adams Street Bowling Green, KY.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,500 SF commercial building currently operating as a liquor store; Drive‑through included for convenient customer access; Directly across the street from Western Kentucky University
