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    Downtown Office Space For Lease Title is generated by Realmo AI

    401 Frederica Street Suite 101A, Owensboro, KY 42303

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    For Lease
    $3,000/Mo $11 SF/Yr (calc)

    Office - Owensboro, KY

    Type:Office
    Property size:
    3,102 SF
    Added:
    Feb 4, 2026
    Days on Market:
    93
    Last Refresh:
    May 8 at 9:06 pm

    Property Features for 401 Frederica Street Suite 101A

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Paved or Surfaced
    Standard status
    Active
    Size
    3,102 SF

    Utilities

    Cooling system
    Central Air, Electric

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    DAUGHERTY - PHELPS TEAM

    Listing agent DAUGHERTY - PHELPS TEAM

    Listing office Triple Crown Realty Group Triple Crown Realty Group, KY

    Listing date Feb 4, 2026

    MLS# 94050 Listing URL

    Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Downtown Owensboro Location: Offers excellent visibility and proximity to nearby businesses and amenities.
    • Multi‑User Occupancy: Designed for multiple tenants with the ability to subdivide the second floor.
    • Sizeable Office Space: 2,972 total square feet, including 1,015 sq ft on the first floor and 1,957 sq ft on the second floor.
    • Well‑Configured Layout: Includes a reception area, waiting area, and conference rooms on both floors.
    • Move‑in Ready: Formerly the Triple Crown Realty Group office.
    • Ample Amenities: Features 3 full baths and a wet bar.

    Overview

    This downtown office space is available for lease in Owensboro, Kentucky. The property offers a total of 2,972 square feet of office spaces, formerly occupied by Triple Crown Realty Group. The first floor comprises 1,015 square feet, featuring a reception desk, waiting area, conference room, and wet bar. The second floor provides 1,957 square feet, capable of accommodating up to two tenants, and includes a large conference room that can be converted into two offices. The space can be subdivided to create 7 to 8 office spaces and includes 3 full baths. The downtown location provides excellent visibility and proximity to nearby businesses and amenities. This space offers exceptional functionality for multi-user occupancy. The property size is 3,102 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mary Mattingly, Realtor ... Real Estate Agency Public Life Foundation Charitable Organization Colby's Deli & Cafe Cafe & Coffee Shop Gorman Recruiting Employment Agency Court of Appeals Courthouse

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Owensboro
    County
    Daviess
    State
    Kentucky
    Longitude
    -87.1129564
    Latitude
    37.7722697

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    FAQs

    What type of property is this?
    Office units - Well-configured office space in downtown Owensboro available for lease.
    Where is this office units located?
    The property is located at 401 Frederica Street Suite 101A Owensboro, KY.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Prime Downtown Owensboro Location: Offers excellent visibility and proximity to nearby businesses and amenities.; Multi‑User Occupancy: Designed for multiple tenants with the ability to subdivide the second floor.; Sizeable Office Space: 2,972 total square feet, including 1,015 sq ft on the first floor and 1,957 sq ft on the second floor.
    (270) 313-7964
    We can help!
    Listing Contact
    DAUGHERTY - PHELPS TEAM
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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