New Warehouse in Kentucky
For Sale
Contact for pricing
173 Technology Way, Bowling Green, KY 42101
Newly constructed 125,000 SF warehouse suitable for warehousing, distribution, or manufacturing.
Property Size125,000 SF
Lot Size16.70 Acres
Price / SF$90
Days on Market793
Property Features for 173 Technology Way
General Information
Standard status
Active
Size
125,000 SF
Lot size
16.70 Acres
Property subtype
Industrial
Building Details
Year Built
2023
Listing Agency:
Foundry Commercial Nashville
(502) 583-4040
Listed By:
Melissa Alexander · License #337758
Source:
Crexi
Added: Jul 1, 2024
Changed: Aug 14
Last Checked: Aug 31 at 3:27AM
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 Foundry Commercial Nashville
Investment Insights
Based on property information with market context.
A newly constructed 125,000 SF warehouse is available for sale in Bowling Green, KY, situated within the Kentucky Transpark. The property, located at 173 Technology Way, occupies approximately 16.7 acres and offers expansion potential up to a total of 250,000 SF. The site also allows for additional trailer or outside storage. The facility is suitable for warehousing, distribution, or manufacturing purposes. Designed for a single tenant layout, the building allows for the addition of more dock doors. The location in South Central Kentucky, known as a leading producer of electric vehicles and auto manufacturing, provides access to a strong, skilled labor pool. Positioned roughly equidistant from Louisville, KY, and Nashville, TN, the Kentucky Transpark benefits from its proximity to I-65, a major industrial corridor. The property is located approximately 2 miles from I-65, accessible via a directly connected, divided highway with a dedicated interstate interchange.
Key Highlights
- Newly constructed 125,000 SF warehouse facility.
- Located in the Kentucky Transpark, Bowling Green, KY.
- Expansion potential up to 250,000 SF or excess land for storage.
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
$819,315
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
7.28%
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%
$16,386,300
$16.4M
Cap Rate 7%
$11,704,500
$11.7M
Cap Rate 9%
$9,103,500
$9.1M
Market Conditions
NOI Build-Up for 125,000 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
$1.02M $8.16/SF
− Vacancy
−$56.1K −$0.45/SF
EGI
$963.9K $7.71/SF
− OpEx
−$144.6K −$1.16/SF
NOI
$819.3K $6.55/SF
Area
Warren County, KY
Vacancy
5.50%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$16,386,300
Cap Rate 7%
$11,704,500
Cap Rate 9%
$9,103,500
Alternative Uses
Best Use
Warehouse
$11.70M
$10.24M – $13.66M
NOI $819,315 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$27.61M
$24.16M – $32.21M
NOI $1,932,480 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Newly constructed 125,000 SF warehouse suitable for warehousing, distribution, or manufacturing.
Where is this warehouse located?
The property is located at 173 Technology Way Bowling Green, KY.
What is the asking price?
The asking price for this property is $11,250,000.
What are key features of this property?
This property features: Newly constructed **125,000 SF warehouse facility**.; Located in the Kentucky Transpark, Bowling Green, KY.; Expansion potential up to 250,000 SF or excess land for storage.
