Building Details

Year built 1998

Floors in Building 1

Building materials Brick

Roof type Metal

Listing Agency: Hoover's Auctions & Real Estate LLC Show Phone

Listed By: Jonathan Hoover Show Phone

Added: Aug 5 Changed: Oct 21 Last Checked: Nov 6 at 8:06AM

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MLS# 11914250

Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 3,000-square-foot office building at 614 E Arch Street is arranged as three separate office units of approximately 1,000 square feet each. All three units are currently rented, and the property was built in 1998 with brick construction and a metal roof. Heating is provided by natural gas, forced air, and electric systems, with public water service.

The 0.25-acre property is in Madisonville near I-69, providing access to the regional highway network. Its existing multi-unit configuration supports continued office occupancy while retaining flexibility for an owner-user to occupy a unit alongside other tenants.

Key Highlights

• 3,000‑square‑foot office building divided into three separate units
• Each office unit contains approximately 1,000 square feet
• All three units are currently rented

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,272

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,440 $505.4K

Cap Rate 7%

$361,029 $361.0K

Cap Rate 9%

$280,800 $280.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$43.2K $14.40/SF

− Vacancy

−$9.5K −$3.17/SF

EGI

$33.7K $11.23/SF

− OpEx

−$8.4K −$2.81/SF

NOI

$25.3K $8.42/SF

Area

Hopkins County, KY

Vacancy

22.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$505,440

Cap Rate 7%

$361,029

Cap Rate 9%

$280,800

Alternative Uses

Best Use

Office B

$361.0K

$315.9K – $421.2K (±1% cap)

NOI $25,272 @ 7.0% cap · market cap 8.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$506.1K

$442.8K – $590.4K (±1% cap)

NOI $35,424 @ 7.0% cap · market cap 11.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Hearing Solutions Hearing Aid Store Daniel Ipock Physician Deer Creek Hemp ... (Bike/Boat/Book/etc) Store TOTAL Tranquility spa ... Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Plumbing Service Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

534

Businesses Nearby

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Brick construction, metal roofing, and multiple office suites define the commercial layout.

Where is this office building located?

The property is located at 614 E Arch Street Madisonville, KY.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: 3,000‑square‑foot office building divided into three separate units; Each office unit contains approximately 1,000 square feet; All three units are currently rented