Building Details

Year Built 1947

Listing Agency: Venture Realty LLC d***@outlook.com Show Phone

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

Source: Kcrea.resimplifi

Added: Feb 27 Changed: Aug 31 Last Checked: Aug 31 at 1:02PM

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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

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 = 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

$36,913

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

8.62%

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%

$738,260 $738.3K

Cap Rate 7%

$527,329 $527.3K

Cap Rate 9%

$410,144 $410.1K

Market Conditions

NOI Build-Up for 5,151 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

$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 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%

$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.

Property Analytics

Property Profile

Current Use

Retail space

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

Questions? Ask Rey

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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