Flex Space with
For Sale
$625,000
6331 & 6333 Midland Industrial Dr., Shelbyville, KY 40065
Industrial flex unit with dock and drive-in access in an established business park.
Property Size4,800 SF
Price / SF$130.21
Days on Market29
Property Features for 6331 & 6333 Midland Industrial Dr.
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Industrial
Zoning
I-1
Property Condition
Severity
Repairs Needed
Evidence
the water service to 6331 will need to be restored, including repair or replacement of the water line associated with the prior leak
Warehouse & Industrial
Warehouse Space
2,400 SF
Mezzanine
700 SF
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Highway Access
Yes
Amenities
Power
Water
Sewer
Building Details
Year Built
2001
Listing Agency:
Homepage Realty
Listed By:
Amanda Helfrich · License #222813
(502) 807-7319
Source:
Kcrea.resimplifi
Added: Sep 16
Changed: Oct 13
Last Checked: Oct 12 at 4:19PM
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 Homepage Realty
Investment Insights
Based on property information with market context.
This 2001 flex unit offers 2,400 square feet of space, plus a 700-square-foot mezzanine with safety railing. Loading is supported by one drive-in door and one dock. The unit also has a two-fixture restroom, upgraded heating and air conditioning with two AC units, and upgraded electrical outlets and lighting. It is zoned I-1.
At 6331 Midland Industrial Dr in Shelbyville, the property is near US-55 and the Shelbyville Bypass. The unit is separately metered, but its water is currently supplied from the adjacent unit. If acquired separately, the water service will need to be restored, including repair or replacement of the line associated with a prior leak. The units are currently connected and open to one another; separate ownership will require appropriate separation.
At 6331 Midland Industrial Dr in Shelbyville, the property is near US-55 and the Shelbyville Bypass. The unit is separately metered, but its water is currently supplied from the adjacent unit. If acquired separately, the water service will need to be restored, including repair or replacement of the line associated with a prior leak. The units are currently connected and open to one another; separate ownership will require appropriate separation.
Key Highlights
- 2,400 square feet of flex space with a 700‑square‑foot mezzanine
- One drive‑in door and one loading dock
- Built in 2001; zoned I‑1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,200
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,000
$824.0K
Cap Rate 7%
$588,571
$588.6K
Cap Rate 9%
$457,778
$457.8K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$51.8K $10.80/SF
− Vacancy
−$3.4K −$0.70/SF
EGI
$48.5K $10.10/SF
− OpEx
−$7.3K −$1.51/SF
NOI
$41.2K $8.58/SF
Area
Shelby County, KY
Vacancy
6.50%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,000
Cap Rate 7%
$588,571
Cap Rate 9%
$457,778
Alternative Uses
Best Use
Warehouse
$588.6K
$515.0K – $686.7K
NOI $41,200 @ 7.0% cap · market cap 6.59%
Second Best
Flex RnD
$553.0K
$483.9K – $645.2K
NOI $38,713 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.01M
$885.4K – $1.18M
NOI $70,834 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40065, KY
32,729
Population
12,943
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
167.5 sq mi
ZIP Area
195
Density / Sq Mi
$76,813
Median Household Income
$40,767
Median Earnings
$1,002
Median Rent
$254,200
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex unit with dock and drive-in access in an established business park.
Where is this flex space located?
The property is located at 6331 & 6333 Midland Industrial Dr. Shelbyville, KY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,400 square feet of flex space with a 700‑square‑foot mezzanine; One drive‑in door and one loading dock; Built in 2001; zoned I‑1
