Mixed-Use Property With
For Sale
$350,000
814 E 4th Street, Owensboro, KY 42303
Commercial Sale, Owensboro, KY
Property Size3,500 SF
Lot Size0.51 Acres
Price / SF$100
Days on Market16
Property Features for 814 E 4th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
View
City
Directions
From Frederica Street in Downtown Owensboro turn east onto W 4th Street. Property will be on the right before Center Street.
Standard status
Active
APN
001-06-13-029-00-000
Size
3,500 SF
Lot size
0.51 Acres
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Building materials
Brick, Aluminum
Roof type
Metal, Flat
Listing Agency:
RE/MAX Preferred & Auction
(270) 757-8436
Listed By:
Michael Miller · License #198567
(270) 792-1093
Added: Aug 31
Changed: Sep 15
Last Checked: Sep 15 at 6:06AM
MLS# 11979305
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,500-square-foot mixed-use property combines a brick office building with a 60' x 35' warehouse on approximately 0.51 acres. The office portion includes a showroom with reception area, 2 private offices, 2 bathrooms, and a full kitchen. The warehouse is heated and cooled and includes an overhead door, while fenced storage extends behind the building.
Located in the Business District of Owensboro, the property includes approximately 12 parking spots, with additional grass parking area. Construction includes brick and aluminum, with natural gas and forced-air heating, public water, and metal and flat roofing. Built in 1975, the building offers a combination of office, showroom, warehouse, and storage space at 814 E 4th Street.
Located in the Business District of Owensboro, the property includes approximately 12 parking spots, with additional grass parking area. Construction includes brick and aluminum, with natural gas and forced-air heating, public water, and metal and flat roofing. Built in 1975, the building offers a combination of office, showroom, warehouse, and storage space at 814 E 4th Street.
Key Highlights
- 3,500 square feet on approximately 0.51 acres
- 60' x 35' heated and cooled warehouse
- Showroom, reception area, 2 private offices, 2 bathrooms, and full kitchen
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
$26,775
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
7.65%
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%
$535,500
$535.5K
Cap Rate 7%
$382,500
$382.5K
Cap Rate 9%
$297,500
$297.5K
Market Conditions
NOI Build-Up for 3,500 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
$42.0K $12.00/SF
− Vacancy
−$6.3K −$1.80/SF
EGI
$35.7K $10.20/SF
− OpEx
−$8.9K −$2.55/SF
NOI
$26.8K $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 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%
$535,500
Cap Rate 7%
$382,500
Cap Rate 9%
$297,500
Alternative Uses
Best Use
Office B
$382.5K
$334.7K – $446.3K
NOI $26,775 @ 7.0% cap · market cap 7.65%
Second Best
Mixed Use
$373.3K
$326.7K – $435.5K
NOI $26,132 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$626.8K
$548.4K – $731.2K
NOI $43,874 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 42303, KY
41,877
Population
18,055
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
89%
High-School Grad
48.8 sq mi
ZIP Area
858
Density / Sq Mi
$63,010
Median Household Income
$41,272
Median Earnings
$941
Median Rent
$183,400
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial building with office areas, a conditioned warehouse, and fenced rear storage.
Where is this mixed-use property located?
The property is located at 814 E 4th Street Owensboro, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,500 square feet on approximately 0.51 acres; 60' x 35' heated and cooled warehouse; Showroom, reception area, 2 private offices, 2 bathrooms, and full kitchen
