Bowling Green Industrial/Warehouse
For Sale
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323 Mitch McConnell Way, Bowling Green, KY 42101
47,774 SF industrial/warehouse property in Bowling Green, KY for sale.
Property Size47,774 SF
Price / SF$94.19
Days on Market153
Property Features for 323 Mitch McConnell Way
General Information
Standard status
Active
Size
47,774 SF
Property subtype
Industrial
Zoning
HI (Heavy Industrial)
Lease Type
Modified Gross
Building Details
Year Built
2015
Year Renovated
2018
Tenancy
Multi
Listing Agency:
NTR Commercial
Listed By:
Eric St. John · License #KY
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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 NTR Commercial
Investment Insights
Based on property information with market context.
Located in Bowling Green, KY, the property at 323 Mitch McConnell Way features a 47,774 SF building constructed in 2015 and renovated in 2018. Zoned HI (Heavy Industrial), the property is suited for industrial, warehouse, or distribution purposes. The location enjoys close proximity to major transportation arteries. Bowling Green's community is home to a diverse workforce, supported by educational institutions, dining establishments, and retail centers. Nearby points of interest include the National Corvette Museum, as well as the Bowling Green Ballpark. This location provides a blend of convenience, culture, and opportunity for industrial, warehouse, or distribution investors and tenants.
Key Highlights
- 47,774 SF building ideal for Industrial, Warehouse, or Distribution.
- Zoned HI (Heavy Industrial) in South Warren County.
- Built in 2015 and renovated in 2018.
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
$313,136
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
6.96%
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%
$6,262,720
$6.3M
Cap Rate 7%
$4,473,371
$4.5M
Cap Rate 9%
$3,479,289
$3.5M
Market Conditions
NOI Build-Up for 47,774 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
$389.8K $8.16/SF
− Vacancy
−$21.4K −$0.45/SF
EGI
$368.4K $7.71/SF
− OpEx
−$55.3K −$1.16/SF
NOI
$313.1K $6.55/SF
Area
Warren County, KY
Vacancy
5.50%
Lease Rate
$8.16 /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%
$6,262,720
Cap Rate 7%
$4,473,371
Cap Rate 9%
$3,479,289
Alternative Uses
Best Use
Warehouse
$4.47M
$3.91M – $5.22M
NOI $313,136 @ 7.0% cap · market cap 6.96%
Second Best
Industrial
$3.51M
$3.07M – $4.10M
NOI $245,978 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$10.55M
$9.23M – $12.31M
NOI $738,578 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
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
- Affordable Self Storage (Old Nashville Rd) — 6112 Old Nashville Loop No 2 Rd, Bowling Green, KY 42104
- South Warren Storage — 6449 Nashville Rd, Bowling Green, KY 42101
Frequently Asked Questions
What type of property is this?
Warehouse - 47,774 SF industrial/warehouse property in Bowling Green, KY for sale.
Where is this warehouse located?
The property is located at 323 Mitch McConnell Way Bowling Green, KY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 47,774 SF building ideal for Industrial, Warehouse, or Distribution.; Zoned HI (Heavy Industrial) in South Warren County.; Built in 2015 and renovated in 2018.
