Owensboro Office Building For
For Sale
$621,000
726 Harvard Drive, Owensboro, KY 42301
Office building for sale featuring a long-term committed tenant.
Property Size2,498 SF
Price / SF$248.60
Days on Market146
Property Features for 726 Harvard Drive
General Information
Standard status
Active
Size
2,498 SF
Class
A
Property subtype
Office
Building Details
Building Size
2,498 SF
Year Built
1990
Listing Agency:
Barron Commercial Group
Listed By:
Bo Barron, CCIM · License #KY #207674
(270) 313-2444
Source:
Barroncommercial
Added: May 27
Changed: Oct 1
Last Checked: Oct 19 at 4:37AM
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 Barron Commercial Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property is an office building featuring a long-term tenant, Benchmark Family Services, which provides essential, government-backed services. The property operates on a net lease structure, where the tenant is responsible for all maintenance and repairs. The lease includes predictable rent growth with CPI-adjusted increases at the start of each renewal term. The property contains 2498 square feet.
Key Highlights
- Long‑Term Tenant: Provides stable, reliable income.
- Net Lease Structure: Minimizes landlord responsibilities and expenses.
- Predictable Rent Growth: CPI‑adjusted increases ensure income keeps pace with inflation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,110
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,200
$382.2K
Cap Rate 7%
$273,000
$273.0K
Cap Rate 9%
$212,333
$212.3K
Market Conditions
NOI Build-Up for 2,498 SF
Gross rent
$30.0K $12.00/SF
− Vacancy
−$4.5K −$1.80/SF
EGI
$25.5K $10.20/SF
− OpEx
−$6.4K −$2.55/SF
NOI
$19.1K $7.65/SF
Area
Daviess County, KY
Vacancy
15.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,200
Cap Rate 7%
$273,000
Cap Rate 9%
$212,333
Alternative Uses
Best Use
Office B
$273.0K
$238.9K – $318.5K
NOI $19,110 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$447.3K
$391.4K – $521.9K
NOI $31,313 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 42301, KY
44,883
Population
19,833
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
173.0 sq mi
ZIP Area
259
Density / Sq Mi
$62,010
Median Household Income
$37,305
Median Earnings
$883
Median Rent
$180,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office building for sale featuring a long-term committed tenant.
Where is this office building located?
The property is located at 726 Harvard Drive Owensboro, KY.
What is the asking price?
The asking price for this property is $621,000.
What are key features of this property?
This property features: Long‑Term Tenant: Provides stable, reliable income.; Net Lease Structure: Minimizes landlord responsibilities and expenses.; Predictable Rent Growth: CPI‑adjusted increases ensure income keeps pace with inflation.
