Commercial Land with Office
For Sale
$1,625,000
3566 Olivet Church Rd, Paducah, KY 42001
Commercial site with an existing office building, available utilities, and commercial zoning across county and city jurisdictions.
Property Size4,944 SF
Price / SF$328.68
Days on Market61
Property Features for 3566 Olivet Church Rd
General Information
Standard status
Active
Size
4,944 SF
Property subtype
Commercial
Building Details
Year Built
2008
Listing Agency:
Purchase Realty Group
(270) 444-6008
Listed By:
John Noonan · License #216270
Source:
Centralkyhomesforsale
Added: Jul 3
Changed: Aug 31
Last Checked: Aug 31 at 5:28PM
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 Purchase Realty Group
Investment Insights
Based on property information with market context.
This 5.91-acre commercial land offering includes an existing 4,944-square-foot office building constructed in 2008. The property has available utilities and carries commercial zoning across both county and city portions, including B-1 Commercial zoning on the city-designated area.
An adjoining 1.37-acre parcel with B-1 Commercial zoning is also available from the same agents and may be combined with this property for a total of 7.28 acres. The combined configuration expands the site area for commercial development while retaining the existing office improvement.
An adjoining 1.37-acre parcel with B-1 Commercial zoning is also available from the same agents and may be combined with this property for a total of 7.28 acres. The combined configuration expands the site area for commercial development while retaining the existing office improvement.
Key Highlights
- 5.91‑acre commercial land offering
- Existing 4,944 sq. ft. office building constructed in 2008
- Commercial zoning on the county portion and B‑1 Commercial zoning on the city portion
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
$47,277
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
2.91%
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%
$945,540
$945.5K
Cap Rate 7%
$675,386
$675.4K
Cap Rate 9%
$525,300
$525.3K
Market Conditions
NOI Build-Up for 4,944 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
$74.2K $15.00/SF
− Vacancy
−$11.1K −$2.25/SF
EGI
$63.0K $12.75/SF
− OpEx
−$15.8K −$3.19/SF
NOI
$47.3K $9.56/SF
Area
McCracken County, KY
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$945,540
Cap Rate 7%
$675,386
Cap Rate 9%
$525,300
Alternative Uses
Best Use
Office B
$675.4K
$591.0K – $788.0K
NOI $47,277 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.03M
$901.4K – $1.20M
NOI $72,108 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial site with an existing office building, available utilities, and commercial zoning across county and city jurisdictions.
Where is this commercial land located?
The property is located at 3566 Olivet Church Rd Paducah, KY.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 5.91‑acre commercial land offering; Existing 4,944 sq. ft. office building constructed in 2008; Commercial zoning on the county portion and B‑1 Commercial zoning on the city portion
