Flex Space with Dual
For Sale
$975,000
149 Delaina Dr, Mount Washington, KY 40047
Steel-frame facility combines shop, office, retail, and storage areas with gated circulation and multiple access points.
Property Size7,500 SF
Lot Size1.30 Acres
Price / SF$110.24
Days on Market208
Property Features for 149 Delaina Dr
General Information
Standard status
Active
Size
7,500 SF
Total Parking Spaces
32
Lot size
1.30 Acres
Property subtype
Industrial
Zoning
B2
Warehouse & Industrial
Drive-In Doors
2
Sprinkler System
Yes
Amenities
Office Break Room
Gated Driveway
Power
Water
Sewer
Natural Gas
Vacant
32 Parking Spaces
Building Details
Year Built
1980
Buildings
1
Building Size
7,500 SF
Construction
steel frame
Listing Agency:
Schuler Bauer Real Estate Services ERA Powered
(270) 300-2753
Listed By:
Valencia Claycomb · License #222878
(270) 300-2753
Source:
Kcrea.resimplifi
Added: Feb 2
Changed: Aug 28
Last Checked: Aug 29 at 5:54AM
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 Schuler Bauer Real Estate Services ERA Powered
Investment Insights
Based on property information with market context.
This 7,500-square-foot flex facility occupies a 1.3-acre corner lot and combines industrial, retail, and office components. The steel-frame building has a partial brick facade, metal exterior covering, two storefront entries, and a large shop area with two oversized drive-in doors. Interior offices, storage, a break room, and three bathrooms support varied operating requirements, while removable interior walls allow the main area to be reconfigured. Four upper-level offices include one with a large window facing the shop floor.
The property is located at 149 Delaina Drive in Mount Washington, Kentucky. A gated driveway circles the building, and the site provides room for customer, employee, and fleet parking. Building systems and features include a sprinkler system, a new gas furnace and AC, and substantial interior storage. The facility was built in 1980.
The property is located at 149 Delaina Drive in Mount Washington, Kentucky. A gated driveway circles the building, and the site provides room for customer, employee, and fleet parking. Building systems and features include a sprinkler system, a new gas furnace and AC, and substantial interior storage. The facility was built in 1980.
Key Highlights
- 7,500‑square‑foot flex facility on a 1.3‑acre corner lot
- Two storefront entrances support separate business or leasing configurations
- Large shop area includes 2 oversized drive‑in doors
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
$88,367
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
9.06%
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%
$1,767,340
$1.8M
Cap Rate 7%
$1,262,386
$1.3M
Cap Rate 9%
$981,856
$981.9K
Market Conditions
NOI Build-Up for 8,844 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
$138.0K $15.60/SF
− Vacancy
−$11.7K −$1.33/SF
EGI
$126.2K $14.27/SF
− OpEx
−$37.9K −$4.28/SF
NOI
$88.4K $9.99/SF
Area
Bullitt 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%
$1,767,340
Cap Rate 7%
$1,262,386
Cap Rate 9%
$981,856
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.82M
NOI $108,999 @ 7.0% cap · market cap 11.18%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,367 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,512 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40047, KY
23,597
Population
8,975
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
29.9 sq mi
ZIP Area
789
Density / Sq Mi
$93,609
Median Household Income
$49,807
Median Earnings
$935
Median Rent
$259,600
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?
Flex space - Steel-frame facility combines shop, office, retail, and storage areas with gated circulation and multiple access points.
Where is this flex space located?
The property is located at 149 Delaina Dr Mount Washington, KY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 7,500‑square‑foot flex facility on a 1.3‑acre corner lot; Two storefront entrances support separate business or leasing configurations; Large shop area includes 2 oversized drive‑in doors
