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    119 Kelly Ct Bowling Green, KY 42101
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    119 Kelly Ct Bowling Green, KY 42101

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    • Flex space
    • 6,000 SF
    For Sale
    $795,000
    View Listing →
    Versatile Flex Space with Offices For Sale
    $795,000
    6,000 SF

    Versatile Flex Space with Offices

    6,000 SF flex space with offices and overhead doors.

    119 Kelly Ct, Bowling Green, KY 42101
    View Listing
    Property ID
    US34-0548480
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jessie's Garage / Auto Repair Shop

    Property Details for 119 Kelly Ct

    Year built
    2007
    Property size
    6,000 SF
    Property type
    Flex space
    Property subtype
    Commercial real estate

    Description

    (2) 200 amp electricity (2) 12’ x 15’ office spaces (2) Shop restrooms (4) 10’ x 10’ manual overhead doors Clear height 12’ 10” Security system and storage space. In close proximity (within 6 miles) to exit 28 and exit 30 along I-65. Approximately 180' road frontage along Kelly Ct. with a 60' x 311' access easement on the West side of the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.3457025
    Latitude
    37.0248796

    Comparable in this City

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      Light Industrial Lots For Sale

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    • $1,990,000
      14,500 SF

      Office/Warehouse on 1.91 Acres

      14,500 SF office/warehouse near I-65 and Transpark.
      550 Kelly Rd, Bowling Green, KY 42101
      View Details

    Similar Nearby for Sale

    • $510,000
      1.24 Acres

      Bowling Green Commercial Land Available

      Commercial lots ideal for warehouses, flex space, and industrial users.
      22 James Stewart Ct, Bowling Green, KY 42101
      View Details
    • $420,000
      0.97 Acres

      Veteran West Industrial Business Park

      Light industrial lots suitable for warehouses and contractor facilities.
      9 Ruth Stewart Ct, Bowling Green, KY 42101
      View Details
    • $700,000
      1.79 Acres

      Commercial Lots in Veterans Park

      Light industrial lots suitable for warehouses and flex space.
      6 Ruth Stewart Ct, Bowling Green, KY 42101
      View Details
    • $300,000
      0.89 Acres

      Commercial Land in Bowling Green

      Light industrial lots suitable for warehouses and flex space.
      19 James Stewart Ct, Bowling Green, KY 42101
      View Details
    • $1,990,000
      14,500 SF

      Office/Warehouse on 1.91 Acres

      14,500 SF office/warehouse near I-65 and Transpark.
      550 Kelly Rd, Bowling Green, KY 42101
      View Details
    • $480,000
      1.19 Acres

      Bowling Green Commercial Lots Available

      Commercial lots suitable for warehouses, flex space, and light manufacturing.
      21 James Stewart Ct, Bowling Green, KY 42101
      View Details

    Similar Nearby for Lease

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      Warehouse Space Near Veterans Blvd

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      3,000 SF

      Flex Space with Drive-In Door

      3,000 SF flex space with drive-in, small office.
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    • Sponsored
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      KY, Bowling Green - 922 State Street

      Workspaces, services and support to help you work better in KY, Bowling Green - 922 State Street
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      Versatile Business Park Space Available

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      Workspaces, services and support to help you work better in KY, Bowling Green - State St
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      245,000 SF

      Bowling Green Warehouse Space Available

      245,000± SF warehouse with office, rail access for lease.
      496 Central Ave, Bowling Green, KY 42101
      View Details
    View Listing
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    Bowling Green, KY 42101
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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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