Office Space with
For Sale
$125,000
2024 Park Avenue, Paducah, KY 42001
The property includes on-site parking and additional land that could be paved for more spaces.
Property Size576 SF
Price / SF$217.01
Days on Market114
Property Features for 2024 Park Avenue
General Information
Standard status
Active
Size
576 SF
Total Parking Spaces
10
Property subtype
Office
Building Details
Building Size
576 SF
Year Built
1955
Listing Agency:
Sirk & Company Real Estate
Listed By:
Ben Sirk · License #210606
(270) 442-7810
Source:
Sirkrealty
Added: Jul 7
Changed: Oct 27
Last Checked: Oct 27 at 3:58AM
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 Sirk & Company Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office property was built in 1955 and has approximately 10 parking spaces. Additional land is available and could be paved to expand parking capacity.
The property is on Park Avenue in Paducah, between the downtown riverfront and Paducah Sports Park.
The property is on Park Avenue in Paducah, between the downtown riverfront and Paducah Sports Park.
Key Highlights
- Approximately 10 existing parking spaces
- Additional land could be paved to add parking
- Built in 1955
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,297
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$125,940
$125.9K
Cap Rate 7%
$89,957
$90.0K
Cap Rate 9%
$69,967
$70.0K
Market Conditions
NOI Build-Up for 576 SF
Gross rent
$9.5K $16.44/SF
− Vacancy
−$473 −$0.82/SF
EGI
$9.0K $15.62/SF
− OpEx
−$2.7K −$4.69/SF
NOI
$6.3K $10.93/SF
Area
McCracken County, KY
Vacancy
5.00%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$125,940
Cap Rate 7%
$89,957
Cap Rate 9%
$69,967
Alternative Uses
Best Use
Retail
$90.0K
$78.7K – $105.0K
NOI $6,297 @ 7.0% cap · market cap 5.04%
Second Best
Office B
$78.7K
$68.9K – $91.8K
NOI $5,508 @ 7.0% cap · market cap 4.41%
Theoretical Best
Warehouse
$120.0K
$105.0K – $140.0K
NOI $8,401 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The property includes on-site parking and additional land that could be paved for more spaces.
Where is this office unit located?
The property is located at 2024 Park Avenue Paducah, KY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Approximately 10 existing parking spaces; Additional land could be paved to add parking; Built in 1955
