Modern Office Building For
For Sale
$1,695,000
6115 Scottsville Rd, Bowling Green, KY 42104
Multi-tenant office building built in 2017, fully occupied.
Property Size9,500 SF
Lot Size1.00 Acre
Price / SF$178.42
Days on Market209
Property Features for 6115 Scottsville Rd
General Information
Standard status
Active
Size
9,500 SF
Lot size
1.00 Acre
Listing Agency:
BHG Realty
(270) 799-6006
Listed By:
Kent Bulle · License #273796
(270) 799-6006
Source:
Exprealty
Added: Jan 26
Changed: Aug 23
Last Checked: Aug 23 at 5:43AM
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 BHG Realty
Investment Insights
Based on property information with market context.
Located on Scottsville Road in Bowling Green, Kentucky, this multi-tenant office property benefits from high daily traffic exposure. Constructed in 2017, the modern office building offers 9,500 square feet of space configured for flexible office use. The building is situated on nearly one acre of land and is currently divided into nine tenant suites. The property is fully occupied by a mix of professional and service-oriented users. This property is suitable for investors or owner-users seeking a stabilized multi-tenant office asset in the south Bowling Green area.
Key Highlights
- Fully occupied, multi‑tenant office building providing immediate income.
- High visibility location on Scottsville Road with strong daily traffic.
- Newer construction (2017) offering modern design and functionality.
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
$110,295
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
6.51%
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%
$2,205,900
$2.2M
Cap Rate 7%
$1,575,643
$1.6M
Cap Rate 9%
$1,225,500
$1.2M
Market Conditions
NOI Build-Up for 9,500 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
$171.0K $18.00/SF
− Vacancy
−$23.9K −$2.52/SF
EGI
$147.1K $15.48/SF
− OpEx
−$36.8K −$3.87/SF
NOI
$110.3K $11.61/SF
Area
Warren County, KY
Vacancy
14.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,205,900
Cap Rate 7%
$1,575,643
Cap Rate 9%
$1,225,500
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,295 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,868 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 42104, KY
37,309
Population
17,619
Households
2.1
Avg Household Size
36
Median Age
42%
College-Educated
91%
High-School Grad
58.0 sq mi
ZIP Area
643
Density / Sq Mi
$73,975
Median Household Income
$39,433
Median Earnings
$980
Median Rent
$282,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building built in 2017, fully occupied.
Where is this office building located?
The property is located at 6115 Scottsville Rd Bowling Green, KY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Fully occupied, multi‑tenant office building providing immediate income.; High visibility location on Scottsville Road with strong daily traffic.; Newer construction (2017) offering modern design and functionality.
