Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1002 State St Bowling Green, KY 42101-2653

    • Office buildings
    • 20,600 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0089053
    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

    • Safe Haven Assurance Inc / Insurance Agency

    Property Details for 1002 State St

    Year built
    1913
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    20,600 SF
    Property type
    Office buildings
    APN
    039A-06-006
    APU
    039A06006

    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
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.4418
    Latitude
    36.9917
    CBSA code
    14540
    CBSA name
    BOWLING GREEN, 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
    2023
    $1,225
    $0.00
    $0.00
    $365,000
    -
    $0.00
    $0.00
    $365,000

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      1538 Mudd Ave

      OFFICE BUILDING • 4,000 SF
      1538 Mudd Ave, Bowling Green, KY 42101-9480
      View Details
    • Value Estimation by Request
      4,088 SF

      531 State St

      OFFICE BUILDING • 4,088 SF
      531 State St, Bowling Green, KY 42101-1242
      View Details
    • Value Estimation by Request
      3,328 SF

      423 State St

      OFFICE BUILDING • 3,328 SF
      423 State St, Bowling Green, KY 42101-1240
      View Details
    • Value Estimation by Request
      2,400 SF

      2465 Russellville Rd

      OFFICE BUILDING • 2,400 SF
      2465 Russellville Rd, Bowling Green, KY 42101-3980
      View Details
    • Value Estimation by Request
      1,998 SF

      1733 Campus Plz Ct Ste, Unit 4

      OFFICE BUILDING • 1,998 SF
      1733 Campus Plz Ct Ste, Bowling Green, KY 42101-2996
      View Details
    • Value Estimation by Request
      754 SF

      410 11th Ave

      OFFICE BUILDING • 754 SF
      410 11th Ave, Bowling Green, KY 42101-2637
      View Details

    Similar Nearby for Sale

    • $1,150,000
      4,472 SF

      Stand Alone Office Building

      4,472 SF office building in Bowling Green growth corridor.
      5572 Russellville Rd, Bowling Green, KY 42101
      View Details
    • $377,500
      0.05 Acres

      Downtown Bowling Green Office Space

      2,000 SF office space in downtown Bowling Green.
      728 College St, Bowling Green, KY 42101
      View Details
    • $1,500,000
      0.21 Acres

      Downtown Bowling Green Commercial Property

      Commercial property with office and retail spaces in downtown Bowling Green.
      310 E Main Ave, Bowling Green, KY 42101
      View Details
    • $1,100,000
      1.30 Acres

      Industrial Park Building For Sale

      5,000 Sq Ft building with office and warehouse space.
      2740 Griffin Dr, Bowling Green, KY 42101
      View Details
    • $2,899,000

      Prime Bowling Green Storage Facility

      High-Yield Storage Units, Excellent Location
      121 Corvette Dr, Greencastle, KY 42101
      View Details
    • Contact for pricing
      1.00 Acre

      Bowling Green Industrial Land

      Two lots, highway business zoning, all utilities.
      0 Flex Park Ln, Bowling Green, KY 42101
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      124,145 SF

      Church Street Industrial Portfolio

      Versatile Warehouse & Office Space Available
      900 Church St, Bowling Green, KY 42101
      View Details
    • Contact for pricing
      1,200 SF

      Executive Office Suite, Bowling Green KY

      Prime 1200 sq ft office space available.
      727 31 Byp, Bowling Green, KY 42101
      View Details
    • $15 SF/Yr
      3,000 SF

      Medical/Dental Office Space Available

      Endcap shell space near retail, restaurant, and office spaces.
      727 Us 31W Byp, Bowling Green, KY 42101
      View Details
    • $6 SF/Yr
      142,800 SF

      Hennessy Way Flex Space Available

      Modern Flex Space, Warren County
      675 Hennessy Way, Bowling Green, KY 42101
      View Details
    • $9 SF/Yr
      27,500 SF

      Constructed Office Space For Lease

      Up to 27,500 SF of fully constructed office space.
      5557 Nashville Rd, Bowling Green, KY 42101
      View Details
    • $12 SF/Yr
      2,800 SF

      Office Space with Separate Entrance

      Office space available for rent with dedicated entrance and parking.
      813 College St, Bowling Green, KY 42101
      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.
    1002 State St
    Bowling Green, KY 42101-2653
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.