Multi-Suite Office
For Sale
$700,000
414 Old Morgantown Road, Bowling Green, KY 42101
Professional office property with medical-oriented improvements, on-site parking, and Flexible Neighborhood Business zoning.
Property Size5,310 SF
Price / SF$131.83
Days on Market47
Property Features for 414 Old Morgantown Road
General Information
Standard status
Active
Size
5,310 SF
Total Parking Spaces
40
Property subtype
Mixed Use
Additional Details
Office Units
20
Building Details
Year Built
1971
Listing Agency:
Coldwell Banker Legacy Real Estate Group
Listed By:
Trevor Ayers · License #219568
(270) 781-3844
Source:
Cbcworldwide
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 26 at 12:38PM
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 Coldwell Banker Legacy Real Estate Group
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Investment Insights
Based on property information with market context.
Located at 414 Old Morgantown Road in Bowling Green, this 5,310-square-foot office building was constructed in 1971 and contains 20 individual office spaces. The interior includes a reception area, lobby, 3 bathrooms, a dedicated lab, and a filing room, creating a configuration suited to professional, medical, or service-oriented operations. A security system is also in place.
Approximately 40 parking spaces provide on-site accommodation for employees, clients, and visitors. Flexible Neighborhood Business zoning supports the property’s stated office, medical, and service-oriented positioning. The multi-office layout can support an owner-user, multiple practitioners, or an investment-oriented operating arrangement without changing the building’s core office configuration.
Approximately 40 parking spaces provide on-site accommodation for employees, clients, and visitors. Flexible Neighborhood Business zoning supports the property’s stated office, medical, and service-oriented positioning. The multi-office layout can support an owner-user, multiple practitioners, or an investment-oriented operating arrangement without changing the building’s core office configuration.
Key Highlights
- 5,310‑square‑foot office building constructed in 1971
- 20 individual office spaces in a multi‑suite layout
- Reception area, lobby, 3 bathrooms, dedicated lab, and filing room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,649
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,980
$1.2M
Cap Rate 7%
$880,700
$880.7K
Cap Rate 9%
$684,989
$685.0K
Market Conditions
NOI Build-Up for 5,310 SF
Gross rent
$95.6K $18.00/SF
− Vacancy
−$13.4K −$2.52/SF
EGI
$82.2K $15.48/SF
− OpEx
−$20.5K −$3.87/SF
NOI
$61.6K $11.61/SF
Area
Warren County, KY
Vacancy
14.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,980
Cap Rate 7%
$880,700
Cap Rate 9%
$684,989
Alternative Uses
Best Use
Office B
$880.7K
$770.6K – $1.03M
NOI $61,649 @ 7.0% cap · market cap 8.81%
Second Best
Healthcare Medical
$701.9K
$614.2K – $818.9K
NOI $49,132 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,092 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20
Office units
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with medical-oriented improvements, on-site parking, and Flexible Neighborhood Business zoning.
Where is this office building located?
The property is located at 414 Old Morgantown Road Bowling Green, KY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5,310‑square‑foot office building constructed in 1971; 20 individual office spaces in a multi‑suite layout; Reception area, lobby, 3 bathrooms, dedicated lab, and filing room
