Flex Space with Automotive
For Sale
Contact for pricing
2714 RUSSELLVILLE RD, Bowling Green, KY 42101
Multi-structure commercial property with warehouse, office, storage, and automotive improvements in an HB-zoned setting.
Property Size7,439 SF
Lot Size0.89 Acres
Price / SF$268.85
Days on Market95
Property Features for 2714 RUSSELLVILLE RD
General Information
Standard status
Active
Size
7,439 SF
Lot size
0.89 Acres
Property subtype
Industrial
Zoning
HB
Occupancy
50%
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
20 ft
Amenities
loading dock
drive-in access
perimeter fencing
20-foot ceiling height
on-site 3-bedroom residence
updated roofing
plumbing upgrades
resurfaced grounds
Building Details
Year Built
1983
Buildings
3
Stories
1
Units
1
Abandoned
No
Listing Agency:
Crye-Leike Executive Realty
(270) 781-3377
Listed By:
Kirk Tinsley · License #KY 194517
Source:
Crexi
Added: May 29
Changed: Aug 31
Last Checked: Aug 30 at 6:13PM
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 Crye-Leike Executive Realty
Investment Insights
Based on property information with market context.
This flex space property at 2714 Russellville Road includes multiple commercial structures configured for automotive, warehouse, office, and storage functions. The primary automotive building has a 20-foot ceiling, loading dock, drive-in access, and operational equipment. The site also includes a 3-bedroom, 1.5-bath residence and a front lot capable of accommodating over 100 vehicles.
The approximately 0.89-acre property is zoned HB and sits near the I-165/Natcher Parkway interchange in Bowling Green. Property improvements include updated roofing, plumbing upgrades, resurfaced grounds, and perimeter fencing. Additional buildings provide leased space and support a range of industrial, automotive, retail, service, and warehouse uses.
The approximately 0.89-acre property is zoned HB and sits near the I-165/Natcher Parkway interchange in Bowling Green. Property improvements include updated roofing, plumbing upgrades, resurfaced grounds, and perimeter fencing. Additional buildings provide leased space and support a range of industrial, automotive, retail, service, and warehouse uses.
Key Highlights
- Approximately 0.89‑acre HB‑zoned commercial property
- 20‑foot ceiling, loading dock, and drive‑in access in the main automotive building
- Front dealership lot accommodates over 100 vehicles
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
$81,756
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
4.09%
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%
$1,635,120
$1.6M
Cap Rate 7%
$1,167,943
$1.2M
Cap Rate 9%
$908,400
$908.4K
Market Conditions
NOI Build-Up for 7,439 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
$122.3K $16.44/SF
− Vacancy
−$5.5K −$0.74/SF
EGI
$116.8K $15.70/SF
− OpEx
−$35.0K −$4.71/SF
NOI
$81.8K $10.99/SF
Area
Warren County, KY
Vacancy
4.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
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%
$1,635,120
Cap Rate 7%
$1,167,943
Cap Rate 9%
$908,400
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,756 @ 7.0% cap · market cap 4.09%
Second Best
Warehouse
$696.6K
$609.5K – $812.7K
NOI $48,759 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,006 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-structure commercial property with warehouse, office, storage, and automotive improvements in an HB-zoned setting.
Where is this flex space located?
The property is located at 2714 RUSSELLVILLE RD Bowling Green, KY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 0.89‑acre HB‑zoned commercial property; 20‑foot ceiling, loading dock, and drive‑in access in the main automotive building; Front dealership lot accommodates over 100 vehicles
