Automotive Property with Existing
For Sale
$425,000
129 Howell Dr, Elizabethtown, KY 42701
C-4-zoned commercial building occupied by Hertz and a counseling center under separate lease arrangements.
Property Size6,000 SF
Price / SF$70.83
Days on Market262
Property Features for 129 Howell Dr
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Investment
Zoning
C-4
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Executive Group, Inc.
(270) 401-4664
Listed By:
Heather Keen
(270) 401-4664
Source:
Kcrea.resimplifi
Added: Dec 12, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:43PM
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 Executive Group, Inc.
Investment Insights
Based on property information with market context.
This 6,000-square-foot automotive property at 129 Howell Dr in Elizabethtown, Kentucky, is zoned C-4 and currently accommodates two occupants: Hertz and a counseling center. The building’s existing configuration supports automotive and counseling-related occupancy as reflected by the current tenants.
Hertz has a lease that runs through December 31, 2029, with a five-year extension option. The counseling center occupies the property under a year-to-year arrangement, providing two distinct lease structures within the same commercial building.
Hertz has a lease that runs through December 31, 2029, with a five-year extension option. The counseling center occupies the property under a year-to-year arrangement, providing two distinct lease structures within the same commercial building.
Key Highlights
- 6,000‑square‑foot automotive property at 129 Howell Dr, Elizabethtown, KY 42701
- C‑4 zoning
- Currently occupied by Hertz and a counseling center
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
$30,303
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
7.13%
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%
$606,060
$606.1K
Cap Rate 7%
$432,900
$432.9K
Cap Rate 9%
$336,700
$336.7K
Market Conditions
NOI Build-Up for 6,000 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
$46.8K $7.80/SF
− Vacancy
−$3.5K −$0.59/SF
EGI
$43.3K $7.22/SF
− OpEx
−$13.0K −$2.16/SF
NOI
$30.3K $5.05/SF
Area
Hardin County, KY
Vacancy
7.50%
Lease Rate
$7.80 /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%
$606,060
Cap Rate 7%
$432,900
Cap Rate 9%
$336,700
Alternative Uses
Best Use
Retail
$946.9K
$828.6K – $1.10M
NOI $66,286 @ 7.0% cap · market cap 15.60%
Second Best
Industrial
$432.9K
$378.8K – $505.1K
NOI $30,303 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
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.
Similar Off Market Nearby
- Hertz Car Rental - Elizabethtown - Howell Drive HLE — 129 Howell Dr, Elizabethtown, KY 42701
Frequently Asked Questions
What type of property is this?
Automotive property - C-4-zoned commercial building occupied by Hertz and a counseling center under separate lease arrangements.
Where is this automotive property located?
The property is located at 129 Howell Dr Elizabethtown, KY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 6,000‑square‑foot automotive property at 129 Howell Dr, Elizabethtown, KY 42701; C‑4 zoning; Currently occupied by Hertz and a counseling center
