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    Industrial Property with Residential Income Title is generated by Realmo AI

    242 Beech Creek Road, Beech Creek, KY 42321

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    For Sale
    $299,000

    COMMERCIAL - Beech Creek, KY

    Property size:
    6,932 SF
    Lot size:
    6.12 Acres
    Price / SF:
    $43/SF
    Added:
    Dec 21, 2024
    Days on Market:
    525
    Last Refresh:
    May 30 at 10:06 pm

    Property Features for 242 Beech Creek Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Paved or Surfaced
    Standard status
    Active
    Size
    6,932 SF
    Lot size
    6.12 Acres

    Building Details

    Year built
    1965
    Number of units
    3
    Building materials
    Steel Frame

    We can help!

    Listing Contact
    DAVID HAWES

    Listing agent DAVID HAWES License #220015

    Listing office KURTZ REALTY 305 Frederica St, OWENSBORO, KY

    Listing date Dec 21, 2024

    MLS# 91297

    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.

    HighLights

    • Three residential rental units generating $1,500 monthly income.
    • Two large insulated metal buildings with concrete floors, suitable for industrial use.
    • 3‑Phase power and service pit for vehicle repair.
    • New clean burn furnace in one building, compatible with multiple combustible liquids.
    • Upgraded LED lighting throughout the property.
    • Gravel‑covered area suitable for vehicle/parts storage.

    Overview

    This property, located in Beech Creek, KY, has been used for industrial purposes for several years, most recently for truck parts salvage. It features two large, insulated metal buildings. One building measures approximately 70 feet by 76 feet, and the other is approximately 60 feet by 68 feet with an additional section of approximately 30 feet by 42 feet. The property includes 3-phase power and a service pit previously used for vehicle repair. Each of the larger enclosed buildings has concrete floors. One of the buildings can be heated with a new clean burn furnace that can operate on multiple types of combustible liquids. There is also a 20-foot by 95-foot metal shed. Much of the lighting has been upgraded to LED. A considerable amount of gravel is present on the property, previously used to store trucks and parts. The 6.123-acre property also includes three living units currently used as residential rental homes. One unit is a permanent structure of approximately 24 feet by 36 feet. The other two units are manufactured homes. Each residential unit is currently rented at $500 per month, generating a total monthly income of $1,500. Building measurements are estimates from aerial measurements or PVA information.
    Property Profile Location Intelligence

    Current Use by Public Records

    Truck terminals

    Suggested Use

    Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Beech Creek
    County
    Muhlenberg
    State
    Kentucky
    Longitude
    -87.064409
    Latitude
    37.1759536

    FAQs

    What type of property is this?
    Industrial property - Industrial property in Beech Creek, KY with residential rental income.
    Where is this industrial property located?
    The property is located at 242 Beech Creek Road Beech Creek, KY.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Three residential rental units generating $1,500 monthly income.; Two large insulated metal buildings with concrete floors, suitable for industrial use.; 3‑Phase power and service pit for vehicle repair.
    (270) 929-1211
    We can help!
    Listing Contact
    DAVID HAWES
    Real Estate License ID: 220015
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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