Industrial Land with Metal
For Sale
$455,000
2585 John L Puryear Drive, Paducah, KY 42003
COMMERCIAL - Paducah, KY
Property Size1,612 SF
Lot Size3.24 Acres
Price / SF$282.26
Days on Market50
Property Features for 2585 John L Puryear Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-1
Zoning description
Light industrial
Parking
2
Subdivision
Commercial
Directions
Traveling I-24 take exit 11. At the light turn right if traveling from the east and turn left if traveling from the west. Continue for about .6 miles. Turn left onto the gravel driveway at the mailbox labeled 2585.
Standard status
Active
APN
115-00-00-024.03
Size
1,612 SF
Lot size
3.24 Acres
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating)
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Building materials
Block, Concrete, Glass, Vinyl Siding
Roof type
Metal
Listing Agency:
Elite Realty
(270) 444-6522
Listed By:
Mary Pennell
(270) 556-4245
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# 26015103
Copyright © 2026 ImagineMLS. 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 3.24-acre M-1 industrial tract combines cleared land with existing improvements. A 1,200-square-foot rigid-frame metal shop provides enclosed storage or workspace, while a separate climate-controlled structure is currently classified as a manufactured home. The property also includes block, concrete, glass, and vinyl siding construction elements, a metal roof, central air, and electric and propane heating systems.
The site fronts John L. Puryear Drive for 414 linear feet and offers access to Interstate 24 at Exit 11. Heavy electricity is active on-site, with a private well and dedicated septic tank system serving the property. The acreage provides room for future expansion or additional yard configuration while retaining the existing utility infrastructure.
The site fronts John L. Puryear Drive for 414 linear feet and offers access to Interstate 24 at Exit 11. Heavy electricity is active on-site, with a private well and dedicated septic tank system serving the property. The acreage provides room for future expansion or additional yard configuration while retaining the existing utility infrastructure.
Key Highlights
- 3.24‑acre M‑1 industrial tract
- 1,200‑square‑foot rigid‑frame metal shop/shed
- 414 linear feet of frontage on John L. Puryear Drive
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
$23,511
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
5.17%
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%
$470,220
$470.2K
Cap Rate 7%
$335,871
$335.9K
Cap Rate 9%
$261,233
$261.2K
Market Conditions
NOI Build-Up for 1,612 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
$30.6K $18.96/SF
− Vacancy
−$2.9K −$1.80/SF
EGI
$27.7K $17.16/SF
− OpEx
−$4.1K −$2.57/SF
NOI
$23.5K $14.58/SF
Area
McCracken County, KY
Vacancy
9.50%
Lease Rate
$18.96 /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%
$470,220
Cap Rate 7%
$335,871
Cap Rate 9%
$261,233
Alternative Uses
Best Use
Warehouse
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 5.17%
Second Best
Office B
$220.2K
$192.7K – $256.9K
NOI $15,415 @ 7.0% cap · market cap 3.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 42003, KY
28,592
Population
14,132
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
414
Density / Sq Mi
$54,052
Median Household Income
$33,566
Median Earnings
$696
Median Rent
$160,700
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?
Industrial land - M-1 industrial acreage includes a metal shop and active utility infrastructure.
Where is this industrial land located?
The property is located at 2585 John L Puryear Drive Paducah, KY.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 3.24‑acre M‑1 industrial tract; 1,200‑square‑foot rigid‑frame metal shop/shed; 414 linear feet of frontage on John L. Puryear Drive
