Building Details

Building Size 2,160 SF

Listing Agency: Bishop Realty & Auction, LLC

Listed By: David Bishop · License #175597 Show Phone

Source: Kcrea.resimplifi

Added: Oct 6, 2025 Changed: Oct 5 Last Checked: Oct 14 at 7:42PM

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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 Bishop Realty & Auction, LLC

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Investment Insights

Based on property information with market context.

This 6-acre flex property includes a 2,160-square-foot shop and office building measuring 36 feet by 60 feet. Overhead doors serve both ends of the main structure, which also contains a front office and bathroom. Additional improvements include storage buildings, six storage units, and a separate retail building with office space and a bathroom. A single-wide mobile home is also located on the property.

Zoned I-1, the site has city water and electric service. The property is located at 320 E Main St in Fairfield, Kentucky, approximately 10 minutes from Bardstown, 25 minutes from Mt. Washington, and 45 minutes from Louisville.

Key Highlights

• 6‑acre I‑1‑zoned flex property
• 2,160‑square‑foot main shop and office building
• 36‑foot by 60‑foot building with overhead doors at both ends

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,249

Cap Rate

5.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$404,980 $405.0K

Cap Rate 7%

$289,271 $289.3K

Cap Rate 9%

$224,989 $225.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,160 SF

Gross rent

$31.1K $14.40/SF

− Vacancy

−$2.2K −$1.01/SF

EGI

$28.9K $13.39/SF

− OpEx

−$8.7K −$4.02/SF

NOI

$20.2K $9.37/SF

Area

Nelson County, KY

Vacancy

7.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$404,980

Cap Rate 7%

$289,271

Cap Rate 9%

$224,989

Alternative Uses

Best Use

Self Storage

$289.3K

$253.1K – $337.5K (±1% cap)

NOI $20,249 @ 7.0% cap · market cap 5.06%

Second Best

Warehouse

$264.9K

$231.8K – $309.0K (±1% cap)

NOI $18,540 @ 7.0% cap · market cap 4.64%

Theoretical Best

Office A

$455.4K

$398.4K – $531.3K (±1% cap)

NOI $31,875 @ 7.0% cap · market cap 7.97%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Grocery & Convenience Store Food Market

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

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 40020, KY

133

Population

128

Households

1

Avg Household Size

46

Median Age

6%

College-Educated

99%

High-School Grad

0.5 sq mi

ZIP Area

266

Density / Sq Mi

$87,951

Median Household Income

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

Frequently Asked Questions

What type of property is this?

Flex space - I-1-zoned property with multiple structures, storage capacity, and city water and electric service.

Where is this flex space located?

The property is located at 320 E Main St Fairfield, 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: 6‑acre I‑1‑zoned flex property; 2,160‑square‑foot main shop and office building; 36‑foot by 60‑foot building with overhead doors at both ends