Current Use by Public Records
- Global Warehousing Distribution / Warehouse & Storage
Property Details for 7660 Iceland Rd
- Year built
- 1985
- Lot size
- 5.00 lot acres
- Property type
- Industrial properties
- Property subtype
- Flex space
Description
This exceptional investment opportunity presents a fully leased, 50,000 square foot flex industrial property situated on a 5-acre lot in Maceo, Kentucky. The property consists of two 25,000 square foot buildings, each featuring two dock doors and one drive-in door, with potential for additional loading options. Currently boasting 100% occupancy with two tenants under a gross lease for one year, the property generates a strong NOI of $158,905, representing an 8.83% cap rate at an asking price of $1,800,000 ($36/SF). Built in 1985, the property benefits from direct highway access to US 60/US 231, experiencing high daily traffic volume exceeding 15,000 vehicles. The substantial lot size offers significant expansion potential. Furthermore, the property's strategic location enjoys proximity to major amenities, including a planned $75 million casino (3 miles), a new truck stop development (4 miles), Owensboro Health Regional Hospital (7 miles), downtown Owensboro (9 miles), and Owensboro Regional Airport (14 miles). The property offers the buyer the option to retain existing tenants or re-tenant upon lease expiration. This is a rare opportunity to acquire a high-performing industrial asset in a rapidly developing area.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Maceo
- County
- Daviess
- State
- Kentucky
- Longitude
- -87.0164
- Latitude
- 37.8417
