Versatile Commercial Property with Expansion
For Sale
Contact for pricing
912 N Dixie Hwy, Elizabethtown, KY 42701
Multi-faceted commercial asset with storage, warehouse, and retail components.
Property Size13,662 SF
Price / SF$104.30
Days on Market189
Property Features for 912 N Dixie Hwy
General Information
Standard status
Active
Size
13,662 SF
Class
C
Property subtype
Industrial, Mixed Use, Office, Retail
Zoning
C3
Building Details
Year Built
1975
Buildings
1
Stories
2
Units
4
Listing Agency:
Keller Williams Heartland
(270) 401-2801
Listed By:
Rachel Brantingham · License #KY
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 11 at 1:15PM
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 Keller Williams Heartland
Investment Insights
Based on property information with market context.
This commercial property features a diversified, income-producing layout with multiple value-add opportunities. It includes five distinct sections of climate-controlled storage, currently operating 55 storage units, with the ability to expand by adding six additional units. A large vacant warehouse measuring approximately 20.5 x 56 feet provides flexibility for additional storage expansion, contractor use, flex space, or other permitted commercial applications. At the front of the property, there is a 2,160 square foot retail space with visibility along N Dixie Highway. This retail area can be easily divided into two separate units. An existing easement allows for parking, enhancing accessibility for retail tenants, warehouse operations, and customers. The climate-controlled units provide secure, year-round storage. The property offers immediate cash flow with upside through unit expansion, warehouse utilization, and retail leasing. The property combines storage, warehouse, and retail components in a high-visibility location. The property size is 13,662 square feet.
Key Highlights
- Diversified income streams from storage units, warehouse, and retail space in a high‑visibility location on N Dixie Highway.
- Existing 55 climate‑controlled storage units with the ability to add 6 more for increased revenue.
- Large vacant warehouse (approx. 20.5 x 56 feet) suitable for storage expansion, contractor use, or flex space.
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
$115,507
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
8.11%
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%
$2,310,140
$2.3M
Cap Rate 7%
$1,650,100
$1.7M
Cap Rate 9%
$1,283,411
$1.3M
Market Conditions
NOI Build-Up for 13,662 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
$180.3K $13.20/SF
− Vacancy
−$15.3K −$1.12/SF
EGI
$165.0K $12.08/SF
− OpEx
−$49.5K −$3.62/SF
NOI
$115.5K $8.45/SF
Area
Hardin County, KY
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,310,140
Cap Rate 7%
$1,650,100
Cap Rate 9%
$1,283,411
Alternative Uses
Best Use
Retail
$2.16M
$1.89M – $2.52M
NOI $150,933 @ 7.0% cap · market cap 10.59%
Second Best
Self Storage
$1.65M
$1.44M – $1.93M
NOI $115,507 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$2.47M
$2.16M – $2.89M
NOI $173,125 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Self storage facility - Multi-faceted commercial asset with storage, warehouse, and retail components.
Where is this self storage facility located?
The property is located at 912 N Dixie Hwy Elizabethtown, KY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Diversified income streams from storage units, warehouse, and retail space in a high‑visibility location on N Dixie Highway.; Existing 55 climate‑controlled storage units with the ability to add 6 more for increased revenue.; Large vacant warehouse (approx. 20.5 x 56 feet) suitable for storage expansion, contractor use, or flex space.
