Large-Format Flex and Showroom
3151 Highland Pointe Dr Owensboro, KY 42303
3151 Highland Pointe Dr, Owensboro, KY, 42303
Contact for pricing
For Sale
Contact for pricing
Vacant building configured for office use, with extensive on-site parking for customer-facing and campus-style operations.
Property Size48,762 SF
Lot Size6.71 Acres
Price / SF$174.32
Days on Market179
Property Features for 3151 Highland Pointe Dr
General Information
- Standard status
- Active
- Size
- 48,762 SF
- Lot size
- 6.71 Acres
- Property subtype
- Mixed Use, Office, Retail
Building Details
- Year Built
- 2009
Listing agency
Gulfstream Commercial Services LLC
(502) 744-1465
Listed by
Fahr Juneja · License #214716
Source
Crexi
Added: Jan 23 Updated: Jul 21 at 12:36AM Checked: Jul 21 at 12:36AM
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 Gulfstream Commercial Services LLC
Investment Insights
Based on property information with market context.
3151 Highland Pointe Drive is a large-format flex and showroom building for sale in Owensboro, KY. The property includes a 48,762-square-foot structure on approximately 6.71 acres and is currently vacant and configured for office use. The layout provides a flexible foundation that can be repositioned for showroom, retail, medical, flex, or multi-tenant occupancy, depending on the end user’s plan.
A major advantage is the property’s parking, with approximately 275 on-site spaces. The site is located within a strong retail corridor and is surrounded by national retailers including Walmart, Academy Sports + Outdoors, Starbucks, McDonald’s, and Courtyard by Marriott. The property also benefits from over 38,000 average daily traffic, supporting visibility and convenient customer access.
For owner-users and investors seeking a large building with substantial parking and adaptability, this asset offers a practical, customer-oriented configuration in a mature retail setting.
A major advantage is the property’s parking, with approximately 275 on-site spaces. The site is located within a strong retail corridor and is surrounded by national retailers including Walmart, Academy Sports + Outdoors, Starbucks, McDonald’s, and Courtyard by Marriott. The property also benefits from over 38,000 average daily traffic, supporting visibility and convenient customer access.
For owner-users and investors seeking a large building with substantial parking and adaptability, this asset offers a practical, customer-oriented configuration in a mature retail setting.
Key Highlights
- 48,762 SF flex and showroom building built in 2009 on approximately 6.71 acres
- Currently vacant and configured for office use, with repositioning potential for showroom, retail, medical, flex, or multi‑tenant occupancy
- Approximately 275 on‑site parking spaces for customer‑facing and campus‑style operations
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $977.2k | $20.04 |
| − Vacancy | −$68.4k | −$1.40 |
| EGI | $908.8k | $18.64 |
| − OpEx | −$318.1k | −$6.52 |
| NOI | $590.7k | $12.11 |
48,762 SF · lease $20.04/SF/yr · vacancy 7.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$8.44M
$7.38M – $9.85M
NOI $590,712 @ 7.0% cap · market cap 6.95%
Second Best
Retail
$7.62M
$6.66M – $8.88M
NOI $533,095 @ 7.0% cap · market cap 6.27%
Theoretical Best
Specialty Retail
$8.73M
$7.64M – $10.19M
NOI $611,250 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
U.S. Bank: Brittany ...
Loan Service
U.S. Bank: Amanda ...
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U.S. Bank: Nicholas ...
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U.S. Bank: Jarryd ...
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U.S. Bank: Gregory ...
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FAQs
What type of property is this?
Flex space - Vacant building configured for office use, with extensive on-site parking for customer-facing and campus-style operations.
Where is this flex space located?
The property is located at 3151 Highland Pointe Dr Owensboro, KY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 48,762 SF flex and showroom building built in 2009 on approximately 6.71 acres; Currently vacant and configured for office use, with repositioning potential for showroom, retail, medical, flex, or multi‑tenant occupancy; Approximately 275 on‑site parking spaces for customer‑facing and campus‑style operations
