Former Bank on Large
For Sale
Contact for pricing
Pending
8210 E Main St, Alexandria, KY 41001
Freestanding bank building with drive-thru on a large lot.
Property Size4,065 SF
Lot Size6.23 Acres
Days on Market1137
Property Features for 8210 E Main St
General Information
Standard status
Pending
Size
4,065 SF
Lot size
6.23 Acres
Property subtype
Mixed Use, Special Purpose, Multifamily
Zoning
Highway Commercial
Building Details
Year Built
1962
Buildings
1
Stories
1
Listing Agency:
Commonwealth Commercial Real Estate
Listed By:
Rhonda Karageorge · License #KY 46762
(502) 379-6000
Source:
Crexi
Added: Jul 26, 2023
Changed: Aug 8
Last Checked: Jul 24 at 6:02PM
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 Commonwealth Commercial Real Estate
Investment Insights
Based on property information with market context.
The property is a former bank situated at a signalized intersection in Alexandria, Kentucky, within Campbell County. The single-story, freestanding building features three covered drive-thru lanes and a breezeway connecting the main building to an ATM/drive-thru structure. Access is provided by one curb cut on Alexandria Pike and two curb cuts on Main Street. Signage includes a monument sign on Main Street, as well as building signage. The location benefits from high traffic volume. Alexandria is located approximately 15 miles south of Cincinnati. The average household income within a 3-mile radius is $111,653. The property is considered an excellent development site in a prime location. The deed states 11 acres, but the seller believes the lot is 6.23 acres. Campbell County Planning & Zoning is in the process of correcting the GIS map to reflect Highway Commercial zoning. The property can be used for commercial real estate, retail, or as a bank.
Key Highlights
- Prime location at a signalized intersection in Alexandria, KY.
- High traffic area with excellent development potential.
- Three covered drive‑thru lanes.
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
$48,477
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
5.10%
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%
$969,540
$969.5K
Cap Rate 7%
$692,529
$692.5K
Cap Rate 9%
$538,633
$538.6K
Market Conditions
NOI Build-Up for 4,065 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
$66.8K $16.44/SF
− Vacancy
−$2.2K −$0.54/SF
EGI
$64.6K $15.90/SF
− OpEx
−$16.2K −$3.98/SF
NOI
$48.5K $11.93/SF
Area
Campbell County, KY
Vacancy
3.28%
Lease Rate
$16.44 /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%
$969,540
Cap Rate 7%
$692,529
Cap Rate 9%
$538,633
Alternative Uses
Best Use
Specialty Retail
$692.5K
$606.0K – $808.0K
NOI $48,477 @ 7.0% cap · market cap 5.10%
Second Best
Retail
$646.4K
$565.6K – $754.1K
NOI $45,246 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.11M
$975.6K – $1.30M
NOI $78,048 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 33%
Home Improvements & Furnishings 31%
Gold Star Chili
Dining
6,100 visits/mo
0.4 miles
AutoZone
Shops & Services
3,782 visits/mo
0.2 miles
Cottingham Ace Hardware
Home Improvements & Furnishings
3,012 visits/mo
0.3 miles
Southern States - Campbell
Home Improvements & Furnishings
2,194 visits/mo
0.3 miles
KOI Auto Parts
Shops & Services
807 visits/mo
0.3 miles
Demographics for 41001, KY
19,294
Population
7,387
Households
2.6
Avg Household Size
40
Median Age
35%
College-Educated
94%
High-School Grad
51.7 sq mi
ZIP Area
373
Density / Sq Mi
$102,468
Median Household Income
$57,834
Median Earnings
$1,113
Median Rent
$265,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Freestanding bank building with drive-thru on a large lot.
Where is this bank located?
The property is located at 8210 E Main St Alexandria, KY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Prime location at a signalized intersection in Alexandria, KY.; High traffic area with excellent development potential.; Three covered drive‑thru lanes.
