Steel Barndominium with
For Sale
Contact for pricing
632 Matlock Road, Bowling Green, KY 42101
Custom iron barndominium with a 75' x 75' workshop, poured concrete floor, drains, and epoxy finish.
Property Size7,500 SF
Price / SF$166.67
Days on Market123
Property Features for 632 Matlock Road
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Special Purpose
Additional Details
Drive-In Doors
6
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Commercial Legacy Group
Listed By:
Timothy Page · License #KY
Source:
Crexi
Added: May 8
Changed: Aug 22
Last Checked: Sep 7 at 5:50AM
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 Coldwell Banker Commercial Legacy Group
Investment Insights
Based on property information with market context.
This custom-built iron barndominium spans 100' x 75' and includes multiple insulated drive-through doors, skylights, and an enclosed electrical system in custom metal conduit. The 75' x 75' workshop area features a poured concrete floor with drains and an epoxy finish, along with exhaust fans, an overhead gas heater, and circulation fans. Lighting includes 16 mercury vapor industrial lights and fluorescent emergency lighting.
Additional features include a laundry space with an included washer and dryer, security lighting, and cupolas. The property also offers a 75' x 25' loft for extra storage, with potential for additional living or bedroom space. On the service side, there are two 50-amp RV hookups and a full dump service station. The interior living area was recently updated with an owner’s suite with a 1.5 bathroom, and includes a kitchen.
Additional features include a laundry space with an included washer and dryer, security lighting, and cupolas. The property also offers a 75' x 25' loft for extra storage, with potential for additional living or bedroom space. On the service side, there are two 50-amp RV hookups and a full dump service station. The interior living area was recently updated with an owner’s suite with a 1.5 bathroom, and includes a kitchen.
Key Highlights
- Custom 100' x 75' iron barndominium built in 2005 with 2 skylights
- Drive‑through insulated doors: 2 doors measuring 14' x 12' and 4 doors measuring 12' x 12'
- 75' x 75' workshop with poured concrete floor with drains and epoxy finish
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
$38,616
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
3.09%
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%
$772,320
$772.3K
Cap Rate 7%
$551,657
$551.7K
Cap Rate 9%
$429,067
$429.1K
Market Conditions
NOI Build-Up for 7,500 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
$58.5K $7.80/SF
− Vacancy
−$3.3K −$0.44/SF
EGI
$55.2K $7.36/SF
− OpEx
−$16.5K −$2.21/SF
NOI
$38.6K $5.15/SF
Area
Warren County, KY
Vacancy
5.70%
Lease Rate
$7.80 /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%
$772,320
Cap Rate 7%
$551,657
Cap Rate 9%
$429,067
Alternative Uses
Best Use
Industrial
$551.7K
$482.7K – $643.6K
NOI $38,616 @ 7.0% cap · market cap 3.09%
Second Best
Flex RnD
$497.0K
$434.9K – $579.9K
NOI $34,793 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,949 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
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.
Frequently Asked Questions
What type of property is this?
Flex space - Custom iron barndominium with a 75' x 75' workshop, poured concrete floor, drains, and epoxy finish.
Where is this flex space located?
The property is located at 632 Matlock Road Bowling Green, KY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Custom 100' x 75' iron barndominium built in 2005 with 2 skylights; Drive‑through insulated doors: 2 doors measuring 14' x 12' and 4 doors measuring 12' x 12'; 75' x 75' workshop with poured concrete floor with drains and epoxy finish
