Madisonville Town Center Retail
For Sale
Contact for pricing
575 Whittington Dr, Madisonville, KY 42431
Retail space in high-traffic area near Kroger and Lowe’s.
Property Size71,791 SF
Price / SF$183.46
Days on Market161
Property Features for 575 Whittington Dr
General Information
Standard status
Active
Size
71,791 SF
Total Parking Spaces
529
Property subtype
Retail
Zoning
General Commercial
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$941,693
Building Details
Year Built
2025
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners Newport Beach
(248) 688-0630
Listed By:
Frank Rogers · License #MI 6502417063
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 11:20AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
Madisonville Town Center is situated off Island Ford Road, which experiences 17,700 vehicles per day, and is located a short distance west of Interstate 69, which sees 30,500 vehicles per day. Island Ford Road serves as the primary retail and commercial thoroughfare for Madisonville. The center is adjacent to a Starbucks, Aspen Dental, and Fifth Third Bank pad. It is also located across from a Kroger and Lowe’s Home Improvement-anchored center, providing high crossover shopping exposure. These Kroger and Lowe’s locations have a combined annual visit count of over 1.8 million, ranking them highly within their category group within a 15-mile radius. Additional surrounding tenants include McDonald’s, Harbor Freight, O’Reily Auto Parts, and Fresenius. The property is located a 5-minute distance from Baptist Health Deaconess Madisonville, a 410-bed medical center with a 20-bed critical care unit. Madisonville Town Center is near single-family communities and multi-family complexes, providing a direct residential consumer base. The 5-mile trade area has a population of over 26,000 residents with an average annual household income of over $71,000. The property size is 71791 square feet.
Key Highlights
- High‑traffic location: Island Ford Road (17,700 VPD) near Interstate 69 (30,500 VPD).
- Adjacent to Starbucks, Aspen Dental, and Fifth Third Bank.
- Across from Kroger and Lowe’s Home Improvement‑anchored center with 1.8M+ annual visits.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$788,993
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$15,779,860
$15.8M
Cap Rate 7%
$11,271,329
$11.3M
Cap Rate 9%
$8,766,589
$8.8M
Market Conditions
NOI Build-Up for 71,791 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.18M $16.44/SF
− Vacancy
−$53.1K −$0.74/SF
EGI
$1.13M $15.70/SF
− OpEx
−$338.1K −$4.71/SF
NOI
$789.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$15,779,860
Cap Rate 7%
$11,271,329
Cap Rate 9%
$8,766,589
Alternative Uses
Best Use
Retail
$11.27M
$9.86M – $13.15M
NOI $788,993 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.11M
$10.60M – $14.13M
NOI $847,708 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail space in high-traffic area near Kroger and Lowe’s.
Where is this shopping center located?
The property is located at 575 Whittington Dr Madisonville, KY.
What is the asking price?
The asking price for this property is $13,171,000.
What are key features of this property?
This property features: High‑traffic location: Island Ford Road (17,700 VPD) near Interstate 69 (30,500 VPD).; Adjacent to Starbucks, Aspen Dental, and Fifth Third Bank.; Across from Kroger and Lowe’s Home Improvement‑anchored center with 1.8M+ annual visits.
