Freestanding Office
New
For Sale
$650,000
150 Raleigh Drive, Elizabethtown, KY 42701
Cul-de-sac setting adjacent to the Post Office and Commonwealth Spine & Pain Center.
Property Size3,825 SF
Lot Size1.00 Acre
Price / SF$169.93
Days on Market3
Property Features for 150 Raleigh Drive
General Information
Standard status
Active
Size
3,825 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Year Built
2004
Buildings
1
Building Size
3,825 SF
Listing Agency:
BAUMGARDNER & ASSOCIATES
(270) 234-6108
Listed By:
John Pawley · License #33971
Source:
Gudenkaufteam
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 28 at 6:55AM
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 BAUMGARDNER & ASSOCIATES
Investment Insights
Based on property information with market context.
This freestanding office building offers 3,825 square feet on a 1.00-acre parcel. Constructed in 2004, the property previously accommodated chiropractic and general office uses, providing a practical commercial layout for continued office occupancy.
The building sits in a cul-de-sac next to the Post Office and Commonwealth Spine & Pain Center. On-site parking includes 19 spaces, supporting staff, visitors, and daily office operations.
The building sits in a cul-de-sac next to the Post Office and Commonwealth Spine & Pain Center. On-site parking includes 19 spaces, supporting staff, visitors, and daily office operations.
Key Highlights
- 3,825 SF freestanding office building
- 1.00‑acre parcel
- Constructed in 2004
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
$40,151
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
6.18%
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%
$803,020
$803.0K
Cap Rate 7%
$573,586
$573.6K
Cap Rate 9%
$446,122
$446.1K
Market Conditions
NOI Build-Up for 3,825 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
$76.7K $20.04/SF
− Vacancy
−$9.7K −$2.55/SF
EGI
$66.9K $17.49/SF
− OpEx
−$26.8K −$7.00/SF
NOI
$40.2K $10.50/SF
Area
Hardin County, KY
Vacancy
12.70%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
40.00%
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%
$803,020
Cap Rate 7%
$573,586
Cap Rate 9%
$446,122
Alternative Uses
Best Use
Healthcare Medical
$573.6K
$501.9K – $669.2K
NOI $40,151 @ 7.0% cap · market cap 6.18%
Second Best
Office B
$522.5K
$457.2K – $609.6K
NOI $36,577 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
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 Office 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?
Office building - Cul-de-sac setting adjacent to the Post Office and Commonwealth Spine & Pain Center.
Where is this office building located?
The property is located at 150 Raleigh Drive Elizabethtown, 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: 3,825 SF freestanding office building; 1.00‑acre parcel; Constructed in 2004
