Building Details

Tenancy Single

Listing Agency: Parkside Realty j***@gmail.com Show Phone

Listed By: Jacob Gurney · License #217672 Show Phone

Source: Kcrea.resimplifi

Added: Oct 1, 2025 Changed: Aug 28 Last Checked: Aug 29 at 5:57AM

Report an Issue

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 Parkside Realty

Investment Insights

Based on property information with market context.

This 2,945-square-foot day care facility is configured for ongoing preschool operations and is currently licensed and operational. The building includes a kitchen area and two bathrooms, with existing plumbing that supports a salon layout as a potential alternative use. The property is zoned B-2.

A current tenant has executed a four-year lease, with the term scheduled to end on 10/31/2029. The occupant is responsible for its own utilities, providing an established operating arrangement for the property.

Key Highlights

• 2,945‑square‑foot building configured for preschool operations
• Currently licensed and operating as a preschool
• Four‑year tenant lease expires 10/31/2029

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

$29,426

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

8.18%

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%

$588,520 $588.5K

Cap Rate 7%

$420,371 $420.4K

Cap Rate 9%

$326,956 $327.0K

Market Conditions

NOI Build-Up for 2,945 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

$45.9K $15.60/SF

− Vacancy

−$3.9K −$1.33/SF

EGI

$42.0K $14.27/SF

− OpEx

−$12.6K −$4.28/SF

NOI

$29.4K $9.99/SF

Area

Henry County, KY

Vacancy

8.50%

Lease Rate

$15.60 /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%

$588,520

Cap Rate 7%

$420,371

Cap Rate 9%

$326,956

Alternative Uses

Best Use

Retail

$420.4K

$367.8K – $490.4K (±1% cap)

NOI $29,426 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$620.9K

$543.3K – $724.3K (±1% cap)

NOI $43,460 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

All About U Hair Salon Nature's Point Preschool High School

Suggested Use

Top Pick Auto Repair Shop HVAC Service Real Estate Agency Pharmacy Pet Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

12k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

6,418 visits/mo 0.3 miles

Valero Energy Shops & Services

5,365 visits/mo 0.1 miles

Demographics for 40050, KY

1,558

Population

831

Households

1.9

Avg Household Size

44

Median Age

26%

College-Educated

79%

High-School Grad

17.2 sq mi

ZIP Area

91

Density / Sq Mi

$45,528

Median Household Income

$39,647

Median Earnings

$707

Median Rent

$132,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this day care centers located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• Nature's Point Preschool — 1378 Eminence Rd, New Castle, KY 40050
• Henry County Head Start — 182 S Property Rd, New Castle, KY 40050

Frequently Asked Questions

What type of property is this?

Day care center - B-2-zoned facility with a kitchen, two restrooms, and plumbing suited to continued childcare or salon use.

Where is this day care center located?

The property is located at 1378 Eminence Rd New Castle, KY.

What is the asking price?

The asking price for this property is $359,900.

What are key features of this property?

This property features: 2,945‑square‑foot building configured for preschool operations; Currently licensed and operating as a preschool; Four‑year tenant lease expires 10/31/2029