Building Details

Year Built 1947

Listing Agency: Venture Realty LLC

Listed By: Dawn Lawrence · License #KENTUCKY.223522 Show Phone

Source: Kcrea.resimplifi

Added: Feb 27 Changed: Oct 9 Last Checked: Oct 16 at 5:50AM

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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 Venture Realty LLC

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Investment Insights

Based on property information with market context.

This mixed-use property contains 5,151 square feet on 0.66 acres and was built in 1947. The first floor includes a retail center, while the residential component consists of five one-bedroom, one-bath apartments. Two apartments require work, including one represented by a mobile home on the property. A shed is also included.

Located at 7804 Stites Sta Rd in West Point, KY, the property carries M3/420 commercial Retail zoning. The operating business associated with the retail component may be acquired through a separate transaction.

Key Highlights

• 5,151‑square‑foot mixed‑use property on 0.66 acres
• First‑floor retail center
• Five one‑bedroom, one‑bath apartments

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,913

Cap Rate

8.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$738,260 $738.3K

Cap Rate 7%

$527,329 $527.3K

Cap Rate 9%

$410,144 $410.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,151 SF

Gross rent

$64.9K $12.60/SF

− Vacancy

−$5.8K −$1.13/SF

EGI

$59.1K $11.47/SF

− OpEx

−$22.1K −$4.30/SF

NOI

$36.9K $7.17/SF

Area

Hardin County, KY

Vacancy

9.00%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$738,260

Cap Rate 7%

$527,329

Cap Rate 9%

$410,144

Alternative Uses

Best Use

Retail

$813.0K

$711.3K – $948.5K (±1% cap)

NOI $56,907 @ 7.0% cap · market cap 13.30%

Second Best

Apartment 5plus

$589.0K

$515.4K – $687.2K (±1% cap)

NOI $41,233 @ 7.0% cap · market cap 9.63%

Theoretical Best

Office A

$932.5K

$815.9K – $1.09M (±1% cap)

NOI $65,273 @ 7.0% cap · market cap 15.25%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Auto Parts Store Auto Repair Shop Real Estate Agency Grocery & Convenience Store Big Box & Wholesale Store Food Market

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

5

Residential units

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 40177, KY

1,680

Population

821

Households

2

Avg Household Size

40

Median Age

16%

College-Educated

84%

High-School Grad

15.5 sq mi

ZIP Area

108

Density / Sq Mi

$47,500

Median Household Income

$28,516

Median Earnings

$741

Median Rent

$120,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines first-floor retail space with five one-bedroom apartments and additional site improvements.

Where is this mixed-use property located?

The property is located at 7804 Stites Sta Rd West Point, KY.

What is the asking price?

The asking price for this property is $428,000.

What are key features of this property?

This property features: 5,151‑square‑foot mixed‑use property on 0.66 acres; First‑floor retail center; Five one‑bedroom, one‑bath apartments