Building Details

Tenancy Single

Listing Agency: NAI Bergman

Listed By: Laurence Bergman · License #KY 47790 Show Phone

Source: Crexi

Added: Aug 30, 2024 Changed: Oct 14 Last Checked: Oct 20 at 8:28PM

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Investment Insights

Based on property information with market context.

This industrial building, with a size of 26600 square feet, is available for sale. It presents an investment opportunity with a global credit tenant. A loan with a below-market interest rate is available for assumption.

Key Highlights

• Investment opportunity with a global credit tenant
• Loan with below market interest rate available for assumption
• Industrial building for sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,220

Cap Rate

2.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,400 $3.3M

Cap Rate 7%

$2,360,286 $2.4M

Cap Rate 9%

$1,835,778 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,600 SF

Gross rent

$252.2K $9.48/SF

− Vacancy

−$16.1K −$0.61/SF

EGI

$236.0K $8.87/SF

− OpEx

−$70.8K −$2.66/SF

NOI

$165.2K $6.21/SF

Area

Boone County, KY

Vacancy

6.40%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,400

Cap Rate 7%

$2,360,286

Cap Rate 9%

$1,835,778

Alternative Uses

Best Use

Industrial

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,220 @ 7.0% cap · market cap 2.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.33M

$6.42M – $8.55M (±1% cap)

NOI $513,274 @ 7.0% cap · market cap 9.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Industrial properties

Suggested Use

Top Pick Real Estate Agency Building Supply Electrical Service Pharmacy Hair Salon Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 41094, KY

14,480

Population

5,204

Households

2.8

Avg Household Size

35

Median Age

31%

College-Educated

93%

High-School Grad

42.1 sq mi

ZIP Area

344

Density / Sq Mi

$91,678

Median Household Income

$46,691

Median Earnings

$1,133

Median Rent

$264,500

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial building with global credit tenant, investment opportunity.

Where is this industrial property located?

The property is located at 3 Hoop Dr Walton, KY.

What is the asking price?

The asking price for this property is $5,579,000.

What are key features of this property?

This property features: Investment opportunity with a global credit tenant; Loan with below market interest rate available for assumption; Industrial building for sale