Church Property with Secondary
For Sale
Contact for pricing
2214 S Bardstown Rd, Mount Washington, KY 40047
Two-building layout with a large parking lot and Residential zoning.
Property Size2,676 SF
Price / SF$130.79
Days on Market218
Property Features for 2214 S Bardstown Rd
General Information
Standard status
Active
Size
2,676 SF
Class
C
Total Parking Spaces
25
Property subtype
Mixed Use, Special Purpose
Zoning
Residential
Occupancy
100%
Investment Type
Owner/User
Building Details
Buildings
2
Stories
1
Units
1
Listing Agency:
RE/MAX Executive Group, Inc
(270) 300-6013
Listed By:
Jerry Dempsey · License #KY 243308
Source:
Crexi
Added: Jan 23
Changed: Aug 29
Last Checked: Aug 29 at 5:33PM
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 RE/MAX Executive Group, Inc
Investment Insights
Based on property information with market context.
This church property includes a primary building and a separate structure positioned behind it on a 2.2-acre site. The two-building arrangement provides space for the current religious operation along with offices, classrooms, meetings, or storage. A substantial paved parking area serves staff and visitors.
Located at 2214 S Bardstown Rd in Mount Washington, Kentucky, the property is designated Residential. Its present use is religious, while any alternative use or redevelopment would remain subject to applicable zoning requirements. The site combines a functioning church layout, an additional rear building, and a sizable parcel within one property.
Located at 2214 S Bardstown Rd in Mount Washington, Kentucky, the property is designated Residential. Its present use is religious, while any alternative use or redevelopment would remain subject to applicable zoning requirements. The site combines a functioning church layout, an additional rear building, and a sizable parcel within one property.
Key Highlights
- 2.2‑acre church property in Mount Washington, KY
- Primary building plus a separate rear building
- Current use as a church
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
$31,610
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
9.03%
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%
$632,200
$632.2K
Cap Rate 7%
$451,571
$451.6K
Cap Rate 9%
$351,222
$351.2K
Market Conditions
NOI Build-Up for 2,676 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
$56.2K $21.00/SF
− Vacancy
−$5.6K −$2.10/SF
EGI
$50.6K $18.90/SF
− OpEx
−$19.0K −$7.09/SF
NOI
$31.6K $11.81/SF
Area
Bullitt County, KY
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$632,200
Cap Rate 7%
$451,571
Cap Rate 9%
$351,222
Alternative Uses
Best Use
Mixed Use
$451.6K
$395.1K – $526.8K
NOI $31,610 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.1K
$493.6K – $658.2K
NOI $39,490 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 40047, KY
23,597
Population
8,975
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
29.9 sq mi
ZIP Area
789
Density / Sq Mi
$93,609
Median Household Income
$49,807
Median Earnings
$935
Median Rent
$259,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Two-building layout with a large parking lot and Residential zoning.
Where is this church & religious facility located?
The property is located at 2214 S Bardstown Rd Mount Washington, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2.2‑acre church property in Mount Washington, KY; Primary building plus a separate rear building; Current use as a church
