Industrial Warehouse in Central
For Sale
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2737 PIONEER DR, Bowling Green, KY 42101
8819 SF insulated warehouse with Heavy Industrial zoning.
Property Size8,819 SF
Price / SF$141.74
Days on Market109
Property Features for 2737 PIONEER DR
General Information
Standard status
Active
Size
8,819 SF
Total Parking Spaces
15
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Year Built
1995
Stories
1
Units
1
Listing Agency:
Coldwell Banker Commercial Legacy Group
Listed By:
Travis Ayers · License #KY
Source:
Crexi
Added: May 14
Changed: Aug 21
Last Checked: Aug 28 at 9:20PM
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 Coldwell Banker Commercial Legacy Group
Investment Insights
Based on property information with market context.
This 8819 SF insulated warehouse is zoned Heavy Industrial and features a 12’ x 12’ office. The building includes a 16’ eave height, two roll-up doors, 3-phase electric service, and energy-efficient LED lighting throughout. It is centrally located within an industrial park and is suitable for small manufacturing, automotive detailing, distribution, warehousing, or storage operations. The property's functionality and access make it suitable for a variety of industrial users.
Key Highlights
- 8819 SF Insulated Warehouse: Substantial space.
- Heavy Industrial Zoning: Allows for a wide range of industrial uses.
- 16’ Eave Height: Accommodates diverse storage and operational needs.
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
$57,804
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
4.62%
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%
$1,156,080
$1.2M
Cap Rate 7%
$825,771
$825.8K
Cap Rate 9%
$642,267
$642.3K
Market Conditions
NOI Build-Up for 8,819 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
$72.0K $8.16/SF
− Vacancy
−$4.0K −$0.45/SF
EGI
$68.0K $7.71/SF
− OpEx
−$10.2K −$1.16/SF
NOI
$57.8K $6.55/SF
Area
Warren County, KY
Vacancy
5.50%
Lease Rate
$8.16 /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%
$1,156,080
Cap Rate 7%
$825,771
Cap Rate 9%
$642,267
Alternative Uses
Best Use
Warehouse
$825.8K
$722.6K – $963.4K
NOI $57,804 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,340 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
263
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 8819 SF insulated warehouse with Heavy Industrial zoning.
Where is this warehouse located?
The property is located at 2737 PIONEER DR Bowling Green, KY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8819 SF Insulated Warehouse: Substantial space.; Heavy Industrial Zoning: Allows for a wide range of industrial uses.; 16’ Eave Height: Accommodates diverse storage and operational needs.
