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    Property profile & analytics

    5101 Frederica St Owensboro, KY 42301

    • Neighborhood centers
    • 85,349 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TJ Maxx / Clothing & Fashion Store
    • Sally Beauty / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Best Buy / Electronics & Wireless Store
    • Hi Tech Cell Phone Accessories / Electronics & Wireless Store / Mobile Phone Store
    • Embrace Nail / Nail Salon

    Property Details for 5101 Frederica St

    Year built
    1996
    Property size
    85,349 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional sublease opportunity presents a 4,647 square foot retail space within the Owensboro Towne Center, located at 5101 Frederica Street, Owensboro, KY 42301. Situated in a high-traffic retail corridor, this space offers unparalleled visibility and accessibility. Originally part of a Best Buy store, this unit is ideally suited for a variety of retail businesses seeking a prominent location. The property is part of a larger strip center totaling 85,349 square feet, ensuring ample parking and shared amenities for customers. Built in 1996, the building is well-maintained and situated in Daviess County (APN: 003-12-29-001-00-000). The space is available immediately as a sublease, offering a flexible and potentially cost-effective entry into a thriving retail market. This is a rare opportunity to secure a highly desirable location in one of Owensboro's premier shopping destinations. The property's location provides excellent access to major roadways and a dense concentration of consumers. Interested parties should inquire promptly to secure this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Owensboro
    County
    Daviess
    State
    Kentucky
    Longitude
    -87.1232
    Latitude
    37.7173

    Comparable in this City

    • Value Estimation by Request
      2,573 SF

      2429 Parrish Ave

      Retail properties & Spaces • 2,573 SF
      2429 Parrish Ave, Owensboro, KY 42301
      View Details
    • Value Estimation by Request
      3,570 SF

      1004 Frederica St

      Individual retail properties • 3,570 SF
      1004 Frederica St, Owensboro, KY 42301
      View Details
    • Value Estimation by Request
      31.00 Acres

      3300 Carter Rd

      Land • 31.00 Acres
      3300 Carter Rd, Owensboro, KY 42301
      View Details
    • Value Estimation by Request
      0.13 Acres

      1620 12th St

      COMMERCIAL (GENERAL) • 0.13 Acres
      1620 12th St, Owensboro, KY 42301-2728
      View Details
    • Value Estimation by Request
      0.47 Acres

      3310 2nd St

      COMMERCIAL (GENERAL) • 0.47 Acres
      3310 2nd St, Owensboro, KY 42301-0297
      View Details
    • Value Estimation by Request
      0.17 Acres

      1204 2nd St

      COMMERCIAL (GENERAL) • 0.17 Acres
      1204 2nd St, Owensboro, KY 42301-0636
      View Details

    Similar Nearby for Sale

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      Retail Center with Strong Tenants

      Fully occupied shopping center with diverse tenants in growing area.
      2845 W Parrish Ave, Owensboro, KY 42301
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    • $3,600,000
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      Owensboro Retail Center Investment Opportunity

      11,830 SF retail center in a prime location.
      5220 Frederica St, Owensboro, KY 42301
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    • $749,000
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      Retail Space on Frederica Street

      Retail or multi-use space available for sale or lease.
      1331 Frederica St, Owensboro, KY 42301
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    • Contact for pricing

      Prime Owensboro Retail Space Available

      Central Owensboro retail spaces with high traffic and ample parking.
      3211 Frederica St, Owensboro, KY 42301
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    • $279,900

      Owensboro Retail with Commercial Kitchen

      Retail property with commercial kitchen and recent updates in Owensboro.
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      Retail Opportunity in Owensboro, KY

      Retail property for sale in Owensboro, Kentucky.
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    Similar Nearby for Lease

    • Contact for pricing
      85,349 SF

      Owensboro Retail Space Sublease

      Prime Owensboro retail space available. 4,647 sq ft.
      5101 Frederica St, Owensboro, KY 42301
      View Details
    • $22 SF/Yr
      8,000 SF

      Owensboro Retail Strip Center

      High-traffic retail space available.
      5040 Frederica St, Owensboro, KY 42301
      View Details
    • $12 SF/Yr
      10,000 SF

      Swiss Plaza Office Space for Lease

      Owensboro, KY Office Suites Available
      600 Park Plaza Dr, Owensboro, KY 42301
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    • Contact for pricing
      21,966 SF

      Shoppes at Frederica: Office Suites

      Prime Owensboro Office Space: Multiple Suites Available
      3800 Frederica St, Owensboro, KY 42301
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    • Contact for pricing
      7,900 SF

      Grocery Anchored Retail Space

      High-traffic retail space anchored by Kroger in Owensboro, KY.
      2630 Frederica St, Owensboro, KY 42301
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    • $18 SF/Yr
      68,250 SF

      Downtown Owensboro Office Space

      Class A Office, Retail & Restaurant Space Available
      234 Frederica St, Owensboro, KY 42301
      View Details
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    5101 Frederica St
    Owensboro, KY 42301
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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