Contractor-Oriented Flex
For Sale
$399,900
305 Henry Clay St, Shelbyville, KY 40065
Commercial building with flexible space for contractor use.
Property Size3,456 SF
Price / SF$115.71
Days on Market520
Property Features for 305 Henry Clay St
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Retail
Listing Agency:
The Menish Group Auction & Real Estate
(502) 552-4997
Listed By:
Ron Caughron
(502) 552-4997
Source:
Kcrea.resimplifi
Added: Mar 28, 2025
Changed: Aug 28
Last Checked: Aug 29 at 6:01AM
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 The Menish Group Auction & Real Estate
Investment Insights
Based on property information with market context.
This 3,456-square-foot flex space building is positioned for contractor-oriented commercial use. The property is located at 305 Henry Clay St in Shelbyville, Kentucky 40065.
Key Highlights
- 3,456‑square‑foot flex space building
- Contractor‑oriented commercial use
- Located at 305 Henry Clay St, Shelbyville, KY 40065
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
$29,664
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
7.42%
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%
$593,280
$593.3K
Cap Rate 7%
$423,771
$423.8K
Cap Rate 9%
$329,600
$329.6K
Market Conditions
NOI Build-Up for 3,456 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
$37.3K $10.80/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$34.9K $10.10/SF
− OpEx
−$5.2K −$1.51/SF
NOI
$29.7K $8.58/SF
Area
Shelby County, KY
Vacancy
6.50%
Lease Rate
$10.80 /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%
$593,280
Cap Rate 7%
$423,771
Cap Rate 9%
$329,600
Alternative Uses
Best Use
Warehouse
$423.8K
$370.8K – $494.4K
NOI $29,664 @ 7.0% cap · market cap 7.42%
Second Best
Flex RnD
$398.2K
$348.4K – $464.6K
NOI $27,873 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$728.6K
$637.5K – $850.0K
NOI $51,001 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40065, KY
32,729
Population
12,943
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
167.5 sq mi
ZIP Area
195
Density / Sq Mi
$76,813
Median Household Income
$40,767
Median Earnings
$1,002
Median Rent
$254,200
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.
Similar Off Market Nearby
- Four Moore's Mobile Kitchen & Catering — 1041 Main St, Shelbyville, KY 40065
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with flexible space for contractor use.
Where is this flex space located?
The property is located at 305 Henry Clay St Shelbyville, KY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,456‑square‑foot flex space building; Contractor‑oriented commercial use; Located at 305 Henry Clay St, Shelbyville, KY 40065
