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    Downtown Owensboro Office Opportunity Title is generated by Realmo AI

    608 Frederica Street, Owensboro, KY 42301

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    New
    For Lease
    $1,982/Mo $18 SF/Yr (calc)

    COMMERCIAL - Owensboro, KY

    Type:Office
    Property size:
    1,321 SF
    Lot size:
    0.53 Acres
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 3:06 pm

    Property Features for 608 Frederica Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Rooms
    Basement
    Parking features
    Offsite
    Interior features
    Sheet Rock
    Standard status
    Active
    Size
    1,321 SF
    Lot size
    0.53 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Electric, Central Air
    Water source
    Public

    We can help!

    Listing Contact
    Matt Aull

    Listing agent Matt Aull

    Listing office BHG Realty BHG Realty - 3424 Frederica Street, Owensboro, KY

    Listing date May 29, 2026

    MLS# 94966

    Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown location at the corner of Frederica Street and W. 7th Street, offering high visibility and accessibility
    • Up to 1,321+\/- square feet of flexible first‑floor lease space with layout options and subdivision possibilities
    • Modern finishes and professional design elements throughout the building
    • Up to THREE MONTHS FREE RENT with qualifying lease
    • Access to a welcoming lobby, updated restroom facilities, and on‑site parking
    • Close proximity to downtown Owensboro's restaurants, shops, and services

    Overview

    Located at the corner of Frederica Street and W. 7th Street in downtown Owensboro, this property offers visibility and accessibility near restaurants, shops, and services. The building features modern finishes and professional design elements. The available lease space is located on the first floor and offers up to 1,321 square feet with flexible layout options and the ability to subdivide into multiple configurations. Tenants have access to a welcoming lobby area, updated restroom facilities, and on-site parking, with additional street parking nearby. The property is available for lease at $18.00 per square foot with NNN terms, and up to three months of free rent with a qualifying lease length. This location is suitable for expanding a business, opening a new office, or seeking a professional downtown presence in one of Owensboro's active commercial corridors. The lot size is 0.53 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Regional Land Title ... Title Company Sullivan, Mountjoy, Stainback ... Law Firm Wilson, Hutchinson & Littlepage Law Firm Meyer & Meyer LLP Law Firm Bill Barber Law ... Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Owensboro
    County
    Daviess
    State
    Kentucky
    Longitude
    -87.1134272
    Latitude
    37.7699745

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    FAQs

    What type of property is this?
    Office units - Prime office space in downtown Owensboro with flexible layout.
    Where is this office units located?
    The property is located at 608 Frederica Street Owensboro, KY.
    What is the lease rate?
    The lease rate is $1,982 /Mo.
    What are key features of this property?
    This property features: Prime downtown location at the corner of Frederica Street and W. 7th Street, offering high visibility and accessibility; Up to 1,321+\/- square feet of flexible first‑floor lease space with layout options and subdivision possibilities; Modern finishes and professional design elements throughout the building
    (270) 993-9560
    We can help!
    Listing Contact
    Matt Aull
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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