Building Details

Year Built 2008

Listing Agency: Purchase Realty Group

Listed By: John Noonan · License #216270 Show Phone

Source: Centralkyhomesforsale

Added: Jun 1 Changed: Oct 1 Last Checked: Oct 14 at 11:04PM

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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.

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 / Yr

$47,277

Cap Rate

2.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$945,540 $945.5K

Cap Rate 7%

$675,386 $675.4K

Cap Rate 9%

$525,300 $525.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,944 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $72,108 @ 7.0% cap · market cap 4.44%

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

Property Analytics

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Current Use

Gold Capital LLC Production Facility World Wide Auto ... Loan Service The Cardinal Group, LLC Production Facility

Suggested Use

Top Pick Electrical Service Storage Facility Catering Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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