Corner Flex Space with Redevelopment
For Sale
Contact for pricing
130 Thomas Ct, Bowling Green, KY 42101
Corner-positioned flex property with an existing building and dual light industrial and general business zoning.
Property Size8,200 SF
Lot Size1.72 Acres
Price / SF$79.27
Days on Market428
Property Features for 130 Thomas Ct
General Information
Standard status
Active
Size
8,200 SF
Lot size
1.72 Acres
Property subtype
INDUSTRIAL
Zoning
Light Industrial, General Business
Site & Location
Traffic Count
17,595 vehicles/day
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Land Use
industrial, flex, business
Building Details
Year Built
1960
Buildings
1
Building Size
8,200 SF
Listing Agency:
Neal Turner Realty
(270) 796-0011
Listed By:
Alex Nottmeier · License #195310
(270) 796-0011
Source:
Moodyscre
Added: Jul 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 4:38PM
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 Neal Turner Realty
Investment Insights
Based on property information with market context.
This flex property at 130 Thomas Ct includes an 8,200-square-foot building constructed in 1960 on 1.72 acres. The existing improvements may support rehabilitation, while the site also presents a potential path for redevelopment or removal of the structure. Zoning includes light industrial and general business designations.
The property occupies a corner location along Veterans Memorial with over 500 feet of frontage and a reported traffic count of 17,595 vehicles per day. Its position in an Opportunity Zone adds access to applicable redevelopment-related tax incentives. The site is identified for industrial, flex, or general business applications, subject to applicable approvals.
The property occupies a corner location along Veterans Memorial with over 500 feet of frontage and a reported traffic count of 17,595 vehicles per day. Its position in an Opportunity Zone adds access to applicable redevelopment-related tax incentives. The site is identified for industrial, flex, or general business applications, subject to applicable approvals.
Key Highlights
- 1.72‑acre site with an existing 8,200 SF building
- Building constructed in 1960; rehabilitation or demolition may be considered
- Light industrial and general business zoning
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
$42,220
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
6.50%
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%
$844,400
$844.4K
Cap Rate 7%
$603,143
$603.1K
Cap Rate 9%
$469,111
$469.1K
Market Conditions
NOI Build-Up for 8,200 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
$64.0K $7.80/SF
− Vacancy
−$3.6K −$0.44/SF
EGI
$60.3K $7.36/SF
− OpEx
−$18.1K −$2.21/SF
NOI
$42.2K $5.15/SF
Area
Warren County, KY
Vacancy
5.70%
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%
$844,400
Cap Rate 7%
$603,143
Cap Rate 9%
$469,111
Alternative Uses
Best Use
Industrial
$603.1K
$527.8K – $703.7K
NOI $42,220 @ 7.0% cap · market cap 6.50%
Second Best
Flex RnD
$543.4K
$475.5K – $634.0K
NOI $38,040 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,771 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,595 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Vette City Catering — 300 E 8th Ave, Bowling Green, KY 42101
Frequently Asked Questions
What type of property is this?
Flex space - Corner-positioned flex property with an existing building and dual light industrial and general business zoning.
Where is this flex space located?
The property is located at 130 Thomas Ct Bowling Green, KY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1.72‑acre site with an existing 8,200 SF building; Building constructed in 1960; rehabilitation or demolition may be considered; Light industrial and general business zoning
