Industrial Warehouse with Loading
For Sale
$1,599,900
599 BLT Wy, Winchester, KY 40391
Open-span industrial space includes dedicated offices, employee amenities, multiple loading points, and installed warehouse racking.
Property Size20,252 SF
Price / SF$78
Days on Market76
Property Features for 599 BLT Wy
General Information
Standard status
Active
Size
20,252 SF
Property subtype
Industrial
Zoning
I-1
Building Details
Year Built
2004
Listing Agency:
Freedom Realty & Property Mgmt
(859) 771-0777
Listed By:
Greg Wood · License #216122
(859) 771-0777
Source:
Kcrea.resimplifi
Added: Jun 17
Changed: Aug 29
Last Checked: Aug 30 at 1:33PM
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 Freedom Realty & Property Mgmt
Investment Insights
Based on property information with market context.
This industrial warehouse is a metal building constructed in 2004 with an open-span interior suited to storage, distribution, logistics, or manufacturing operations. The interior includes 2 offices, 2 bathrooms, and a break room, while the balance remains largely open for adaptable workflow. Loading infrastructure includes 2 dock-height doors and 5 drive-in automatic bay doors. A Toyota Handling Systems racking system is installed on the concrete slab and may be removed or reconfigured. The racks measure 16' tall with 8' between uprights.
The property is located 1 minute from I-64, 5 minutes from the Mountain Parkway, and 15 minutes from I-75. I-1 zoning is also identified for the property.
The property is located 1 minute from I-64, 5 minutes from the Mountain Parkway, and 15 minutes from I-75. I-1 zoning is also identified for the property.
Key Highlights
- Open‑span metal warehouse built in 2004
- 2 dock‑height doors and 5 drive‑in automatic bay doors
- Installed Toyota Handling Systems racking conveys with the sale
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
$145,632
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
9.10%
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%
$2,912,640
$2.9M
Cap Rate 7%
$2,080,457
$2.1M
Cap Rate 9%
$1,618,133
$1.6M
Market Conditions
NOI Build-Up for 20,252 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
$182.3K $9.00/SF
− Vacancy
−$10.9K −$0.54/SF
EGI
$171.3K $8.46/SF
− OpEx
−$25.7K −$1.27/SF
NOI
$145.6K $7.19/SF
Area
Clark County, KY
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,912,640
Cap Rate 7%
$2,080,457
Cap Rate 9%
$1,618,133
Alternative Uses
Best Use
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,632 @ 7.0% cap · market cap 9.10%
Second Best
Industrial
$1.71M
$1.50M – $2.00M
NOI $119,932 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$5.13M
$4.49M – $5.99M
NOI $359,287 @ 7.0% cap · market cap 22.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Storage Rentals of America — 4100 Rockwell Rd, Winchester, KY 40391
- Driven Warehouse Distributing — 4793 Rockwell Rd, Winchester, KY 40391
- Red Dot Storage — 4629 Rockwell Rd, Winchester, KY 40391
- Storage Rentals of America — 1280 Theresa Dr W, Winchester, KY 40391
Frequently Asked Questions
What type of property is this?
Warehouse - Open-span industrial space includes dedicated offices, employee amenities, multiple loading points, and installed warehouse racking.
Where is this warehouse located?
The property is located at 599 BLT Wy Winchester, KY.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Open‑span metal warehouse built in 2004; 2 dock‑height doors and 5 drive‑in automatic bay doors; Installed Toyota Handling Systems racking conveys with the sale
