Building Details

Building materials Block

Listing Agency: Triple Crown Realty Group Show Phone

Listed By: DAUGHERTY - PHELPS TEAM Show Phone

Added: Sep 3 Changed: Oct 18 Last Checked: Oct 18 at 11:06PM

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MLS# 95674

Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 3,966 sq. ft. flex property combines a customer-facing lobby and waiting area with garage and warehouse space positioned toward the rear. Block construction, natural gas heating, central air, and electric cooling support the building’s existing commercial setup. A 200-amp electrical service is also in place.

The property is located at 315 Park Plaza Dr in Owensboro, Kentucky, near Frederica Street. Storefront exposure, paved parking, and an attached garage provide practical features for a range of office, service, and commercial operations. B-4 zoning further identifies the site’s commercial land-use designation.

Key Highlights

• 3,966 sq. ft. flex property with lobby, waiting area, garage, and rear warehouse space
• B‑4 zoning supports the property’s commercial classification
• 200‑amp electrical service in place

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,337

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,740 $446.7K

Cap Rate 7%

$319,100 $319.1K

Cap Rate 9%

$248,189 $248.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,966 SF

Gross rent

$27.6K $6.96/SF

− Vacancy

−$1.3K −$0.33/SF

EGI

$26.3K $6.63/SF

− OpEx

−$3.9K −$0.99/SF

NOI

$22.3K $5.63/SF

Area

Daviess County, KY

Vacancy

4.80%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,740

Cap Rate 7%

$319,100

Cap Rate 9%

$248,189

Alternative Uses

Best Use

Flex RnD

$686.4K

$600.6K – $800.8K (±1% cap)

NOI $48,045 @ 7.0% cap · market cap 10.47%

Second Best

Warehouse

$319.1K

$279.2K – $372.3K (±1% cap)

NOI $22,337 @ 7.0% cap · market cap 4.87%

Theoretical Best

Specialty Retail

$710.2K

$621.4K – $828.6K (±1% cap)

NOI $49,715 @ 7.0% cap · market cap 10.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Owensboro Towing's Service Road Safety Town

Suggested Use

Top Pick Restaurant Law Firm Big Box & Wholesale Store Building Supply Auto Parts Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

822

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - B-4-zoned commercial building combines a lobby, garage, rear warehouse, paved parking, and 200-amp electrical service.

Where is this flex space located?

The property is located at 315 Park Plaza Dr Owensboro, KY.

What is the asking price?

The asking price for this property is $459,000.

What are key features of this property?

This property features: 3,966 sq. ft. flex property with lobby, waiting area, garage, and rear warehouse space; B‑4 zoning supports the property’s commercial classification; 200‑amp electrical service in place