Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    62 & Western Kentucky Pkwy Princeton, KY 42445
    Back to Search
    Property profile & analytics

    62 & Western Kentucky Pkwy, Princeton, KY 42445

    View on Map
    • Retail properties & Spaces
    • 12,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 62 & Western Kentucky Pkwy

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2.4-acre commercial land parcel presents a unique build-to-suit opportunity in the thriving retail corridor of Princeton, Kentucky. Located on US Highway 62 West, at the intersection of Western Kentucky Parkway, this property boasts unparalleled visibility and accessibility. The site is zoned for Commercial Retail use, allowing for a wide range of development options, including restaurants and street retail establishments. With a total buildable area of 12,000 square feet, this site is ideal for a single-tenant building. The property's strategic location offers close proximity to major retailers such as Walmart, Ruler Foods, and AutoZone, ensuring high traffic volume and strong consumer demographics. The parcel's size and zoning provide flexibility for a variety of commercial developments, making it an attractive investment for businesses seeking a prominent location in a growing Kentucky market. The Caldwell County location, with APN 38-9V2, offers a stable and supportive business environment. This is a rare opportunity to establish a significant presence in a key retail area of Princeton, Kentucky, with excellent visibility and access to a large customer base. The 12,000 square feet of vacant space provides ample room for a substantial building. This property is ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Caldwell
    State
    Kentucky
    Longitude
    -87.8631
    Latitude
    37.1185

    Comparable in this City

    • Value Estimation by Request
      2.40 Acres

      62 And Western Kentucky Pkwy

      Individual retail properties
      62 And Western Kentucky Pkwy, Princeton, KY 42445
      View Details
    • Value Estimation by Request
      159.49 Acres

      350 Cotton Rd

      RETAIL STORES (PERSONAL SERVICES)
      350 Cotton Rd, Princeton, KY 42445-6509
      View Details
    • Value Estimation by Request

      10002 Hwy 293rd N

      RETAIL STORES (PERSONAL SERVICES)
      10002 Hwy 293rd N, Princeton, KY 42445-5429
      View Details
    • Value Estimation by Request

      1025 Hopkinsville St

      RETAIL STORES (PERSONAL SERVICES)
      1025 Hopkinsville St, Princeton, KY 42445-6829
      View Details
    • Value Estimation by Request
      1,957 SF

      1004 Jefferson St

      RETAIL STORES (PERSONAL SERVICES)
      1004 Jefferson St, Princeton, KY 42445-1110
      View Details
    • Value Estimation by Request

      304 Jefferson St

      RETAIL STORES (PERSONAL SERVICES)
      304 Jefferson St, Princeton, KY 42445-1551
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,456 SF

      Versatile Commercial Building in Princeton

      Two-story, 9,456 sq. ft. building in Princeton, KY for sale.
      127 W Market St, Princeton, KY 42445
      View Details
    • $249,000

      Commercial Building on Corner Lot

      Commercial building on a 1-acre corner lot in Princeton.
      4961 Cadiz Rd, Princeton, KY 42445
      View Details
    • Contact for pricing

      Land For Sale Princeton, KY

      Land available for purchase in Princeton, Kentucky.
      1500 S 62, Princeton, KY 42445
      View Details
    • $79,900
      12.74 Acres

      Hopkins County Acreage For Sale

      12.74 acres in Hopkins County with building potential.
      4999 Dalton Rd, Princeton, KY 42445
      View Details
    • $349,900
      9,456 SF

      Versatile Commercial Building in Princeton

      9,456 sq ft commercial building in Princeton, KY for sale.
      127 W Market St, Princeton, KY 42445
      View Details
    • $4,850,000

      Princeton Retail Center For Sale

      Retail center anchored by national tenants in Princeton, Kentucky.
      500 Us Highway 62 W, Princeton, KY 42445
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    62 & Western Kentucky Pkwy
    Princeton, KY 42445
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    62 & Western Kentucky Pkwy, Princeton, KY, 42445
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!