Flex Industrial
For Sale
$900,000
1602 W 7th Street, Owensboro, KY 42301
COMMERCIAL SALES, Owensboro, KY
Property Size13,920 SF
Lot Size0.98 Acres
Price / SF$64.66
Days on Market239
Property Features for 1602 W 7th Street
General Information
Property type
Residential
Property subtype
Office
Parking features
Off Street
Subdivision
WEST
Standard status
Active
Lot size
0.98 Acres
Utilities
Heating system
Natural Gas
Building Details
Building materials
Block, Steel Frame
Listing Agency:
Triple Crown Realty Group
(270) 926-9999
Listed By:
DAUGHERTY - PHELPS TEAM
(270) 313-7964
Added: Feb 17
Changed: Oct 8
Last Checked: Oct 14 at 11:06AM
MLS# 94129
Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1602 W 7th Street in Owensboro, this flex property combines office areas with warehouse space in a 0.98-acre commercial setting. The building uses block and steel-frame construction and includes two 14-foot overhead doors for receiving, loading, or equipment movement.
I-2 zoning is in place, with the property identified for distribution, light manufacturing, and contractor use. Additional site features include off-street parking and natural gas heat. The property is offered for sale and is also available for lease.
I-2 zoning is in place, with the property identified for distribution, light manufacturing, and contractor use. Additional site features include off-street parking and natural gas heat. The property is offered for sale and is also available for lease.
Key Highlights
- 0.98‑acre commercial property in Owensboro, KY
- Two 14‑foot overhead doors
- I‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,398
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,567,960
$1.6M
Cap Rate 7%
$1,119,971
$1.1M
Cap Rate 9%
$871,089
$871.1K
Market Conditions
NOI Build-Up for 13,920 SF
Gross rent
$96.9K $6.96/SF
− Vacancy
−$4.7K −$0.33/SF
EGI
$92.2K $6.63/SF
− OpEx
−$13.8K −$0.99/SF
NOI
$78.4K $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 Rate 5%
$1,567,960
Cap Rate 7%
$1,119,971
Cap Rate 9%
$871,089
Alternative Uses
Best Use
Flex RnD
$2.41M
$2.11M – $2.81M
NOI $168,629 @ 7.0% cap · market cap 18.74%
Second Best
Office B
$1.52M
$1.33M – $1.77M
NOI $106,488 @ 7.0% cap · market cap 11.83%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,492 @ 7.0% cap · market cap 19.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42301, KY
44,883
Population
19,833
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
173.0 sq mi
ZIP Area
259
Density / Sq Mi
$62,010
Median Household Income
$37,305
Median Earnings
$883
Median Rent
$180,600
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 Office in South region
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Similar Off Market Nearby
- World Classics Catering — 2510 W Parrish Ave, Owensboro, KY 42301
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas support distribution, light manufacturing, or contractor operations.
Where is this flex space located?
The property is located at 1602 W 7th Street Owensboro, KY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 0.98‑acre commercial property in Owensboro, KY; Two 14‑foot overhead doors; I‑2 zoning
