Warehouse with Direct Garage
For Sale
Contact for pricing
1601 Triplett St, Owensboro, KY 42303
Warehouse includes direct garage access and a private office suite for logistics, storage, or operational use.
Property Size12,631 SF
Price / SF$91.05
Days on Market164
Property Features for 1601 Triplett St
General Information
Standard status
Active
Size
12,631 SF
Class
B
Property subtype
Office, Retail, Self Storage, Special Purpose
Zoning
B4
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1913
Year Renovated
2015
Units
1
Listing Agency:
BHG Realty
Listed By:
John Ross Martin · License #300719
Source:
Crexi
Added: Apr 2
Changed: Aug 14
Last Checked: Sep 12 at 6:58AM
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 BHG Realty
Investment Insights
Based on property information with market context.
1601 Triplett Street presents a warehouse designed for practical operations, featuring direct garage access into the main warehouse space. The building also includes a private office suite and high-end finishes intended to support everyday business use, along with modern upgrades.
The property is offered for sale and is also available for lease at $7,500 per month, providing flexibility for buyers and operators looking for a versatile warehouse setup.
The property is offered for sale and is also available for lease at $7,500 per month, providing flexibility for buyers and operators looking for a versatile warehouse setup.
Key Highlights
- 12,631 SF warehouse built in 1913 with direct garage access into the main warehouse space
- Includes a private office suite for on‑site business operations
- Designed for logistics, storage, or operational use
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
$71,138
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
6.19%
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%
$1,422,760
$1.4M
Cap Rate 7%
$1,016,257
$1.0M
Cap Rate 9%
$790,422
$790.4K
Market Conditions
NOI Build-Up for 12,631 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
$87.9K $6.96/SF
− Vacancy
−$4.2K −$0.33/SF
EGI
$83.7K $6.63/SF
− OpEx
−$12.6K −$0.99/SF
NOI
$71.1K $5.63/SF
Area
Daviess County, KY
Vacancy
4.80%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,422,760
Cap Rate 7%
$1,016,257
Cap Rate 9%
$790,422
Alternative Uses
Best Use
Warehouse
$1.02M
$889.2K – $1.19M
NOI $71,138 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.64M
NOI $158,334 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42303, KY
41,877
Population
18,055
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
89%
High-School Grad
48.8 sq mi
ZIP Area
858
Density / Sq Mi
$63,010
Median Household Income
$41,272
Median Earnings
$941
Median Rent
$183,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse includes direct garage access and a private office suite for logistics, storage, or operational use.
Where is this warehouse located?
The property is located at 1601 Triplett St Owensboro, KY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 12,631 SF warehouse built in 1913 with direct garage access into the main warehouse space; Includes a private office suite for on‑site business operations; Designed for logistics, storage, or operational use
