Licensed Rehabilitation
For Sale
$6,000,000
3136 W 2nd St, Owensboro, KY 42301
Room-based behavioral health facility with private bathrooms, group spaces, and a commercial kitchen.
Property Size80,000 SF
Price / SF$75
Days on Market63
Property Features for 3136 W 2nd St
General Information
Standard status
Active
Size
80,000 SF
Total Parking Spaces
189
Property subtype
Hospitality
Zoning
B-4
Amenities
central common area
private bathrooms
pharmacy area
classroom-sized spaces
offices
natural light
commercial kitchen
walk-in refrigerators and freezers
basketball court
volleyball court
189 Parking Spaces
Listing Agency:
FJR Commercial
Listed By:
Brian Forrest · License #RB14038227
(502) 892-0228
Source:
Kcrea.resimplifi
Added: Aug 16
Changed: Oct 13
Last Checked: Oct 16 at 5:56AM
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 FJR Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 80,000-square-foot rehabilitation facility is licensed for 300 occupants and occupies a former hotel configuration. The renovated interior includes private client and staff rooms with bathrooms, a central common area, multiple classroom-sized rooms, and offices in varied sizes. A pharmacy area with furnishings and walk-up windows is also in place. Natural light reaches the building’s wings, while existing furniture and fixtures support continued residential or behavioral health operations.
A commercial kitchen provides large-scale meal service and includes multiple walk-in refrigerators and freezers. Dedicated basketball and volleyball courts provide indoor and outdoor recreation options. The property is zoned B-4 and offers access to major regional roadways in Owensboro, Kentucky. Its room-based layout and shared gathering areas also support potential hospitality, senior living, assisted living, or workforce housing conversion, as identified in the property information.
A commercial kitchen provides large-scale meal service and includes multiple walk-in refrigerators and freezers. Dedicated basketball and volleyball courts provide indoor and outdoor recreation options. The property is zoned B-4 and offers access to major regional roadways in Owensboro, Kentucky. Its room-based layout and shared gathering areas also support potential hospitality, senior living, assisted living, or workforce housing conversion, as identified in the property information.
Key Highlights
- 80,000 SF rehabilitation facility licensed for 300 occupants
- Renovated former hotel layout with private bathrooms in client and staff rooms
- Central common area, classroom‑sized rooms, offices, and pharmacy area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$498,750
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,975,000
$10.0M
Cap Rate 7%
$7,125,000
$7.1M
Cap Rate 9%
$5,541,667
$5.5M
Market Conditions
NOI Build-Up for 80,000 SF
Gross rent
$1.20M $15.00/SF
− Vacancy
−$150.0K −$1.88/SF
EGI
$1.05M $13.13/SF
− OpEx
−$551.3K −$6.89/SF
NOI
$498.8K $6.23/SF
Area
Daviess County, KY
Vacancy
12.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,975,000
Cap Rate 7%
$7,125,000
Cap Rate 9%
$5,541,667
Alternative Uses
Best Use
Healthcare Medical
$10.75M
$9.41M – $12.54M
NOI $752,486 @ 7.0% cap · market cap 12.54%
Second Best
Hotel Hospitality
$7.12M
$6.23M – $8.31M
NOI $498,750 @ 7.0% cap · market cap 8.31%
Theoretical Best
Specialty Retail
$14.33M
$12.54M – $16.71M
NOI $1,002,830 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 42301, KY
44,883
Population
19,833
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
173.0 sq mi
ZIP Area
259
Density / Sq Mi
$62,010
Median Household Income
$37,305
Median Earnings
$883
Median Rent
$180,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Rehabilitation center - Room-based behavioral health facility with private bathrooms, group spaces, and a commercial kitchen.
Where is this rehabilitation center located?
The property is located at 3136 W 2nd St Owensboro, KY.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 80,000 SF rehabilitation facility licensed for 300 occupants; Renovated former hotel layout with private bathrooms in client and staff rooms; Central common area, classroom‑sized rooms, offices, and pharmacy area
