Office Building with
For Sale
$449,900
1900 Triplett St, Owensboro, KY 42303
COMMERCIAL SALES, Owensboro, KY
Property Size3,409 SF
Lot Size0.46 Acres
Price / SF$131.97
Days on Market8
Property Features for 1900 Triplett St
General Information
Property type
Residential
Property subtype
Office
Subdivision
EAST
Standard status
Active
Lot size
0.46 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
1991
Building materials
Brick
Listing Agency:
Supreme Dream Realty, LLC
Listed By:
Vickie Ballard · License #247702
(270) 993-6573
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 4 at 4:06AM
MLS# 95637
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.
This 3,409-square-foot office property occupies 0.46 acre and includes two bathrooms, approximately 22 parking spaces, and a three-bay drive-through. Brick construction, a 1991 build year, natural gas heating, and central electric air conditioning complete the existing improvements.
Zoned B-4 General Business, the property supports a broad range of commercial applications identified for the site, including professional offices, medical or dental offices, retail, salon or beauty services, financial services, and studio space. Its address is 1900 Triplett St in Owensboro, Kentucky.
Zoned B-4 General Business, the property supports a broad range of commercial applications identified for the site, including professional offices, medical or dental offices, retail, salon or beauty services, financial services, and studio space. Its address is 1900 Triplett St in Owensboro, Kentucky.
Key Highlights
- 3,409 square feet on 0.46 acre
- Three‑bay drive‑through configuration
- Approximately 22 parking spaces
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
$26,079
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
5.80%
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%
$521,580
$521.6K
Cap Rate 7%
$372,557
$372.6K
Cap Rate 9%
$289,767
$289.8K
Market Conditions
NOI Build-Up for 3,409 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
$40.9K $12.00/SF
− Vacancy
−$6.1K −$1.80/SF
EGI
$34.8K $10.20/SF
− OpEx
−$8.7K −$2.55/SF
NOI
$26.1K $7.65/SF
Area
Daviess County, KY
Vacancy
15.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
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%
$521,580
Cap Rate 7%
$372,557
Cap Rate 9%
$289,767
Alternative Uses
Best Use
Office B
$372.6K
$326.0K – $434.7K
NOI $26,079 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$610.5K
$534.2K – $712.2K
NOI $42,733 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
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
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 - B-4 General Business zoning supports professional, medical, retail, salon, financial, and studio uses.
Where is this office building located?
The property is located at 1900 Triplett St Owensboro, KY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,409 square feet on 0.46 acre; Three‑bay drive‑through configuration; Approximately 22 parking spaces
