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

    1240 Fairway St Bowling Green, KY 42103-2463

    • Office buildings
    • 22,230 SF
    • 2.38 lot acres
    OFF-MARKET
    Value Estimations
    $4,655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0500090
    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

    • Houchens Insurance Group / Insurance Agency
    • Van Meter Insurance Group / Insurance Agency
    • FedEx Drop Box / Mailing Service
    • Mcclure Gary / Insurance Agency
    • Hart Tom / Insurance Agency

    Property Details for 1240 Fairway St

    Year built
    1994
    Construction
    STEEL FRAME
    Lot size
    2.38 lot acres
    Property size
    22,230 SF
    Property type
    Office buildings
    APN
    040C-14-017
    APU
    040C14017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,655,000
      Market price range: $2.94M - $4.86M
      AI Estimate
      $4,655,000
      Market price range: $2.94M - $4.86M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,950,000
      Current use
      RESTAURANT
      $5,830,000
      Change: +47% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $3,520,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bowling Green
    County
    Warren
    State
    Kentucky
    Longitude
    -86.4312
    Latitude
    36.9682
    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
    $36,444
    $0.00
    $0.00
    $4,250,000
    -
    $0.00
    $0.00
    $4,250,000

    Comparable in this City

    • Value Estimation by Request
      2,072 SF

      111 Callaway Ct

      OFFICE BUILDING • 2,072 SF
      111 Callaway Ct, Bowling Green, KY 42103-2541
      View Details
    • Value Estimation by Request
      999 SF

      1043 Pedigo Way Ste, Unit 33

      OFFICE BUILDING • 999 SF
      1043 Pedigo Way Ste, Bowling Green, KY 42103-6124
      View Details
    • Value Estimation by Request
      1,280 SF

      1074 Pedigo Way Ste, Unit 100

      OFFICE BUILDING • 1,280 SF
      1074 Pedigo Way Ste, Bowling Green, KY 42103-7206
      View Details
    • Value Estimation by Request
      2,688 SF

      1011 Lehman Ave Ste, Unit 103

      OFFICE BUILDING • 2,688 SF
      1011 Lehman Ave Ste, Bowling Green, KY 42103-6515
      View Details
    • Value Estimation by Request
      999 SF

      1043 Pedigo Way Ste, Unit 44

      OFFICE BUILDING • 999 SF
      1043 Pedigo Way Ste, Bowling Green, KY 42103-6124
      View Details
    • Value Estimation
      $1,425,000
      8,579 SF

      2424 Airway Dr

      OFFICE BUILDING • 8,579 SF
      2424 Airway Dr, Bowling Green, KY 42103-7125
      View Details

    Similar Nearby for Sale

    • $279,900
      1.06 Acres

      New Office/Warehouse Condo Units

      New construction office/warehouse condos ideal for small business operations.
      400 Red Squirrel St, Bowling Green, KY 42103
      View Details
    • Contact for pricing
      11.03 Acres

      Bowling Green Multifamily Development

      276 Units, Fully Approved, Prime Location
      0 Middle Bridge Rd, Bowling Green, KY 42103
      View Details
    • $140,000
      1.19 Acres

      Residential Lot in Fountain Trace

      1.19 acre building lot in Fountain Trace subdivision.
      1416 Windcrest Ct, Bowling Green, KY 42103
      View Details
    • $149,900
      0.25 Acres

      Residential Lot in Bowling Green

      Residential lot available in Bowling Green, Kentucky.
      1337 Cardinal Way, Bowling Green, KY 42103
      View Details
    • $349,900
      1.16 Acres

      Golf Course Lot in Olde Stone

      Premium lot in gated golf community with many amenities.
      1365 Overlook Ln, Bowling Green, KY 42103
      View Details
    • $175,000
      1.17 Acres

      Olde Stone Building Lot

      Residential lot in gated community with golf and amenities.
      164 Wedge Ct, Bowling Green, KY 42103
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      25,701 SF

      Bowling Green Medical Office Suites

      Prime Medical Office Space Available in KY
      165 Natchez Trace Ave, Bowling Green, KY 42103
      View Details
    • $1,500,000

      Highway Business Zoned Land

      Pad-ready land available for sale, lease, or build-to-suit.
      Ken Bale Blvd, Bowling Green, KY 42103
      View Details
    • $11 SF/Yr
      9,680 SF

      Industrial Space with Office Area

      9,680 SF industrial space with office and convenient location.
      587 Lovers Ln, Bowling Green, KY 42103
      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.
    1240 Fairway St
    Bowling Green, KY 42103-2463
    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.