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    Property profile & analytics

    3800 Frederica St Owensboro, KY 42301

    • Commercial real estate
    • 158,710 SF
    • 1.01 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0527291
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Owensboro Discount Porta Potty Rental / Portable Toilet Supplier / Waste Management Service
    • Marble Slab Creamery / Ice Cream Shop
    • BenchMark Physical Therapy / Physical Therapy Clinic
    • Courtney Nelson / Physical Therapist
    • COURTNEY LYNN NELSON / Physical Therapist

    Property Details for 3800 Frederica St

    Year built
    2003
    Construction
    WOOD FRAME
    Lot size
    1.01 lot acres
    Property size
    158,710 SF
    Property type
    Commercial real estate
    APN
    004-19-02-003-00-000
    APU
    4190200300000

    Description

    The Shoppes at Frederica offers exceptional office space in Owensboro, Kentucky. This mixed-use development, situated on 6.47 acres, provides convenient access to I-69 and is located within the city's most active retail area, near Tamarack Rd. The existing 140,000 square foot Class-A office building offers customizable spaces, perfect for a variety of businesses. Currently, there are five available suites ranging from 1,983 to 8,000 square feet, with a total of 21,966 square feet of vacant space. The largest contiguous space available is 5,966 square feet. The property boasts a modern, superior workspace and is part of a larger development plan including over 80,000 square feet of planned retail space and a future 215-unit multi-family apartment complex. Built in 2003, this development offers the benefits of a thriving mixed-use community, combining work, retail, and residential living in one convenient location. This is an ideal opportunity for businesses seeking a high-quality, well-located office space within a dynamic and growing community. The property is suitable for traditional office and medical office uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Owensboro
    County
    Daviess
    State
    Kentucky
    Longitude
    -87.1206
    Latitude
    37.7349
    CBSA code
    36980
    CBSA name
    OWENSBORO, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $0.00
    $0.00
    $1,351,300
    -
    $0.00
    $0.00
    $1,351,300

    Comparable in this City

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      0.25 Acres

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      COMMERCIAL (GENERAL) • 0.25 Acres
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    Similar Nearby for Sale

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      153,000 SF industrial facility on 20.26 acres for sale.
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    • $2,600,000

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      Fully stabilized apartment complex with consistent rent roll and strong demand.
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      Commercial land in prime location with high traffic counts.
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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
    • Contact for pricing
      7,368 SF

      Owensboro Retail Space - Target Pad Site

      High-traffic retail space, Owensboro, KY. 2,500 sq ft available.
      5115 Frederica St, Owensboro, KY 42301
      View Details
    • Contact for pricing
      21,966 SF

      Shoppes at Frederica: Office Suites

      Prime Owensboro Office Space: Multiple Suites Available
      3800 Frederica St, Owensboro, KY 42301
      View Details
    • $67 SF/Yr
      4,675 SF

      Southtown Hub Executive Suites

      Owensboro KY Office Space: Modern & Flexible
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    • $12 SF/Yr
      10,000 SF

      Swiss Plaza Office Space for Lease

      Owensboro, KY Office Suites Available
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    • $2,700 /Mo
      1,747 SF

      Downtown Owensboro Office Space Available

      Turn-key professional office space in downtown Owensboro for lease.
      608 Frederica St 100-B, Owensboro, KY 42301
      View Details
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    3800 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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