Building Details

Additional Structures Workshop

Listing Agency: Weichert Realtors Lawson Collective Show Phone

Listed By: Tracey Cecil-Simpson · License #34541 Show Phone

Added: Jun 17 Changed: Sep 26 Last Checked: Oct 10 at 2:06PM

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MLS# HK2602501

Copyright © 2026 Heart of Kentucky Association of Realtors. 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 flex space property includes a 2040 sq ft workshop on a 1.08-acre corner parcel. The building provides dedicated office space, concrete flooring, insulation, and heating, creating a functional setup for a range of commercial or light industrial operations supported by the available improvements.

The property is located on Rineyville School Road in Rineyville, Kentucky, within Hardin County. Its corner-lot configuration provides a distinct site layout, while the existing workshop allows the property to serve as more than undeveloped land. The combination of land area and completed building improvements offers a practical base for an owner-user or business requiring workshop and office components.

Key Highlights

• 2040 sq ft workshop with office space
• 1.08‑acre corner lot on Rineyville School Road
• Concrete flooring throughout the workshop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,303

Cap Rate

6.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$206,060 $206.1K

Cap Rate 7%

$147,186 $147.2K

Cap Rate 9%

$114,478 $114.5K

Market Conditions

NOI Build-Up for 2,040 SF

Gross rent

$15.9K $7.80/SF

− Vacancy

−$1.2K −$0.59/SF

EGI

$14.7K $7.22/SF

− OpEx

−$4.4K −$2.16/SF

NOI

$10.3K $5.05/SF

Area

Hardin County, KY

Vacancy

7.50%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$206,060

Cap Rate 7%

$147,186

Cap Rate 9%

$114,478

Alternative Uses

Best Use

Industrial

$147.2K

$128.8K – $171.7K (±1% cap)

NOI $10,303 @ 7.0% cap · market cap 6.44%

Second Best

Flex RnD

$142.0K

$124.2K – $165.7K (±1% cap)

NOI $9,939 @ 7.0% cap · market cap 6.21%

Theoretical Best

Office A

$369.3K

$323.1K – $430.9K (±1% cap)

NOI $25,851 @ 7.0% cap · market cap 16.16%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 40162, KY

6,337

Population

2,121

Households

3

Avg Household Size

42

Median Age

26%

College-Educated

94%

High-School Grad

49.2 sq mi

ZIP Area

129

Density / Sq Mi

$81,466

Median Household Income

$52,117

Median Earnings

$731

Median Rent

$243,500

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Corner-site property offers an insulated commercial building with office space and concrete flooring.

Where is this flex space located?

The property is located at Rineyville School Road lot 20 Rineyville, KY.

What is the asking price?

The asking price for this property is $160,000.

What are key features of this property?

This property features: 2040 sq ft workshop with office space; 1.08‑acre corner lot on Rineyville School Road; Concrete flooring throughout the workshop