Owensboro Retail Strip Center For
For Sale
$3,300,000
3238 Kidron Valley Way, Owensboro, KY 42303
13,500 SF strip center in Owensboro's retail submarket.
Property Size13,500 SF
Price / SF$244.44
Days on Market167
Property Features for 3238 Kidron Valley Way
General Information
Standard status
Active
Size
13,500 SF
Property subtype
Retail
Net Operating Income
$217,894
Building Details
Building Size
13,500 SF
Year Built
2013
Listing Agency:
Barron Commercial Group
(270) 313-2444
Listed By:
Bo Barron, CCIM · License #KY #207674
(270) 313-2444
Source:
Barroncommercial
Added: Mar 5
Changed: Aug 13
Last Checked: Aug 19 at 6:23AM
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 Barron Commercial Group
Investment Insights
Based on property information with market context.
This 13,500 square foot strip center, built in 2013, is located in the heart of Owensboro's primary and growing retail submarket. The property is shadow-anchored by Walmart SuperCenter in the HWY 54 corridor. The center benefits from high visibility and patronage, with a daily traffic count exceeding 25,000 vehicles. Tenants include Dapper Dog, Eve Nail and Spa, and Wasabi 54. The property is surrounded by future developments and offers significant NOI growth potential.
Key Highlights
- Shadow‑anchored by Walmart SuperCenter, providing consistent customer traffic.
- Located in the high‑traffic HWY 54 corridor with over 25,000 vehicles daily.
- Built in 2013, indicating relatively new construction.
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
$147,590
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
4.47%
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%
$2,951,800
$3.0M
Cap Rate 7%
$2,108,429
$2.1M
Cap Rate 9%
$1,639,889
$1.6M
Market Conditions
NOI Build-Up for 13,500 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
$221.9K $16.44/SF
− Vacancy
−$11.1K −$0.82/SF
EGI
$210.8K $15.62/SF
− OpEx
−$63.3K −$4.69/SF
NOI
$147.6K $10.93/SF
Area
Daviess County, KY
Vacancy
5.00%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
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%
$2,951,800
Cap Rate 7%
$2,108,429
Cap Rate 9%
$1,639,889
Alternative Uses
Best Use
Retail
$2.11M
$1.84M – $2.46M
NOI $147,590 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.82M
NOI $169,228 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
441k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Superstores 25%
Shops & Services 17%
Apparel 13%
Walmart
Superstores
108,206 visits/mo
0.2 miles
Kohl's
Apparel
47,193 visits/mo
0.4 miles
Chick-fil-A
Dining
34,712 visits/mo
0.3 miles
McDonald's
Dining
31,262 visits/mo
0.2 miles
Aldi
Groceries
22,455 visits/mo
0.4 miles
Demographics for 42303, KY
41,877
Population
18,055
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
89%
High-School Grad
48.8 sq mi
ZIP Area
858
Density / Sq Mi
$63,010
Median Household Income
$41,272
Median Earnings
$941
Median Rent
$183,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - 13,500 SF strip center in Owensboro's retail submarket.
Where is this strip mall located?
The property is located at 3238 Kidron Valley Way Owensboro, KY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Shadow‑anchored by Walmart SuperCenter, providing consistent customer traffic.; Located in the high‑traffic HWY 54 corridor with over 25,000 vehicles daily.; Built in 2013, indicating relatively new construction.
