Multi-Building Storefront
For Sale
Contact for pricing
538 East Center Street, Madisonville, KY 42431
Commercially zoned property with four buildings, established leases, and on-site parking.
Property Size5,500 SF
Price / SF$181.82
Days on Market172
Property Features for 538 East Center Street
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Year Built
2007
Buildings
4
Listing Agency:
Heritage Homes Real Estate
Listed By:
Dean Sheets · License #205804
(270) 619-3117
Source:
Crexi
Added: Apr 29
Changed: Oct 10
Last Checked: Oct 16 at 6:36AM
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 Heritage Homes Real Estate
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Investment Insights
Based on property information with market context.
This commercial storefront property includes four buildings constructed in 2007, with on-site parking serving the overall offering. Three buildings are subject to established five-year leases, while the remaining building provides additional flexibility for leasing or occupancy by the owner. The property is zoned Commercial and carries a PropertySize of 5500.
Located at 538 East Center Street in Madisonville, Kentucky, the site benefits from direct street exposure and accessibility within the surrounding commercial area. The multi-building configuration allows the leased and unleased portions to be evaluated separately while maintaining a single commercial property offering.
Located at 538 East Center Street in Madisonville, Kentucky, the site benefits from direct street exposure and accessibility within the surrounding commercial area. The multi-building configuration allows the leased and unleased portions to be evaluated separately while maintaining a single commercial property offering.
Key Highlights
- Four‑building commercial storefront offering
- Three buildings have established 5‑year leases
- Fourth building offers leasing or owner‑occupancy 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
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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 - Commercially zoned property with four buildings, established leases, and on-site parking.
Where is this storefront property located?
The property is located at 538 East Center Street 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‑building commercial storefront offering; Three buildings have established 5‑year leases; Fourth building offers leasing or owner‑occupancy flexibility
