Workshop on Corner Building
For Sale
$160,000
Lot 20 Rineyville School Rd, Rineyville, KY 40162
Corner building lot with a heated, insulated workshop featuring an office space and concrete floors.
Property Size2,040 SF
Price / SF$78.43
Days on Market87
Property Features for Lot 20 Rineyville School Rd
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Land
Listing Agency:
Weichert Realtors Lawson Collective
(270) 982-1155
Listed By:
Tracey Cecil-Simpson · License #207342
(270) 268-6894
Source:
Exprealty
Added: Jun 17
Changed: Sep 5
Last Checked: Sep 9 at 8:55PM
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 Weichert Realtors Lawson Collective
Investment Insights
Based on property information with market context.
This corner building lot includes a 2,040-square-foot workshop complete with an office space. The workshop has concrete floors and is insulated and heated, creating a functional, year-round interior for work and storage needs.
The property is located on Rineyville School Rd in Rineyville, Kentucky, with access and visibility afforded by its corner positioning.
The available improvements are centered on the workshop configuration, combining a dedicated office area with the main work/storage space.
The property is located on Rineyville School Rd in Rineyville, Kentucky, with access and visibility afforded by its corner positioning.
The available improvements are centered on the workshop configuration, combining a dedicated office area with the main work/storage space.
Key Highlights
- Corner building lot on Rineyville School Rd
- Includes a 2,040 SF workshop with office space
- Workshop has concrete floors and is insulated
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
$13,963
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
8.73%
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%
$279,260
$279.3K
Cap Rate 7%
$199,471
$199.5K
Cap Rate 9%
$155,144
$155.1K
Market Conditions
NOI Build-Up for 2,040 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
$17.6K $8.64/SF
− Vacancy
−$1.2K −$0.59/SF
EGI
$16.4K $8.05/SF
− OpEx
−$2.5K −$1.21/SF
NOI
$14.0K $6.84/SF
Area
Hardin County, KY
Vacancy
6.80%
Lease Rate
$8.64 /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%
$279,260
Cap Rate 7%
$199,471
Cap Rate 9%
$155,144
Alternative Uses
Best Use
Warehouse
$199.5K
$174.5K – $232.7K
NOI $13,963 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$369.3K
$323.1K – $430.9K
NOI $25,851 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40162, KY
6,337
Population
2,121
Households
3
Avg Household Size
42
Median Age
26%
College-Educated
94%
High-School Grad
49.2 sq mi
ZIP Area
129
Density / Sq Mi
$81,466
Median Household Income
$52,117
Median Earnings
$731
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Affordable Storage Guys - Rineyville — 53 Sage Ct, Rineyville, KY 40162
- Rineyville Mini Storage — 101 Sage Ct, Rineyville, KY 40162
Frequently Asked Questions
What type of property is this?
Warehouse - Corner building lot with a heated, insulated workshop featuring an office space and concrete floors.
Where is this warehouse located?
The property is located at Lot 20 Rineyville School Rd Rineyville, KY.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Corner building lot on Rineyville School Rd; Includes a 2,040 SF workshop with office space; Workshop has concrete floors and is insulated
