Four-Building Storefront
For Sale
$1,000,000
538 E Center St., Madisonville, KY 42431
Commercial Sale, Madisonville, KY
Property Size5,500 SF
Lot Size1.99 Acres
Price / SF$181.82
Days on Market185
Property Features for 538 E Center St.
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Travel E. Center St. - Property is on the right
Subdivision
1 - Madisonville
Standard status
Active
Size
5,500 SF
Lot size
1.99 Acres
Building Details
Year built
2007
Listing Agency:
HERITAGE HOMES REAL ESTATE
(270) 825-9090
Listed By:
Maggie Sheets
(270) 836-5086
Added: Apr 27
Changed: Oct 19
Last Checked: Oct 28 at 7:06AM
MLS# 121827
Copyright © 2026 Madisonville-Hopkins County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property includes four commercial buildings totaling 5,500 square feet on 1.99 acres. Constructed in 2007, the improvements are described as being in excellent condition and include on-site parking. Three buildings are subject to established 5-year leases, while the remaining building can provide additional income or accommodate an owner-user.
The property is located at 538 E Center St. in Madisonville, Kentucky, within Hopkins County. Its commercial configuration combines multiple structures with existing lease coverage and a separate vacant or flexible-use building, offering distinct occupancy options within one property.
The property is located at 538 E Center St. in Madisonville, Kentucky, within Hopkins County. Its commercial configuration combines multiple structures with existing lease coverage and a separate vacant or flexible-use building, offering distinct occupancy options within one property.
Key Highlights
- Four commercial buildings totaling 5,500 square feet
- Three buildings secured by established 5‑year leases
- Fourth building offers income potential or owner‑user flexibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,446
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,208,920
$1.2M
Cap Rate 7%
$863,514
$863.5K
Cap Rate 9%
$671,622
$671.6K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$90.4K $16.44/SF
− Vacancy
−$4.1K −$0.74/SF
EGI
$86.4K $15.70/SF
− OpEx
−$25.9K −$4.71/SF
NOI
$60.4K $10.99/SF
Area
Hopkins County, KY
Vacancy
4.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,208,920
Cap Rate 7%
$863,514
Cap Rate 9%
$671,622
Alternative Uses
Best Use
Retail
$863.5K
$755.6K – $1.01M
NOI $60,446 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.8K
$811.8K – $1.08M
NOI $64,944 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 47%
Beauty & Spa 1%
Wendy's
Dining
18,839 visits/mo
0.4 miles
Marathon
Shops & Services
15,120 visits/mo
0.3 miles
Rally's
Dining
7,425 visits/mo
0.4 miles
Dollar General
Shops & Services
7,072 visits/mo
0.2 miles
Hardee's
Dining
6,446 visits/mo
0.4 miles
Demographics for 42431, KY
26,566
Population
12,569
Households
2.1
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
166.7 sq mi
ZIP Area
159
Density / Sq Mi
$57,529
Median Household Income
$37,671
Median Earnings
$858
Median Rent
$151,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Multi-building commercial offering with leased occupancy, a separate owner-user option, and on-site parking.
Where is this storefront property located?
The property is located at 538 E Center St. Madisonville, KY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four commercial buildings totaling 5,500 square feet; Three buildings secured by established 5‑year leases; Fourth building offers income potential or owner‑user flexibility
