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

    1648 2nd St Henderson, KY 42420-3364

    • Strip malls
    • 4,800 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-1449259
    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

    • Perfection Salon / Hair Salon / Nail Salon
    • Eastgate Family Restaurant / Restaurant
    • Pet Spaw / Pet Grooming Service
    • Tattoo Folklore / Tattoo & Piercing Shop

    Property Details for 1648 2nd St

    Year built
    1965
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    4,800 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    2-25-2-33
    APU
    225233

    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
    Henderson
    County
    Henderson
    State
    Kentucky
    Longitude
    -87.571
    Latitude
    37.8317
    CBSA code
    21780
    CBSA name
    EVANSVILLE, IN-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
    $3,326
    $0.00
    $0.00
    $297,500
    -
    $0.00
    $0.00
    $297,500

    Comparable in this City

    • Value Estimation by Request
      8,694 SF

      2202 Us Hwy 41st N

      SHOPPING CENTER, STRIP CENTER • 8,694 SF
      2202 Us Hwy 41st N, Henderson, KY 42420-2399
      View Details
    • Value Estimation by Request
      57,865 SF

      2nd St

      SHOPPING CENTER, STRIP CENTER • 57,865 SF
      2nd St, Henderson, KY 42420
      View Details
    • Value Estimation by Request
      1.36 Acres

      2600 Us Hwy 41st N

      SHOPPING CENTER, STRIP CENTER • 1.36 Acres
      2600 Us Hwy 41st N, Henderson, KY 42420-3014
      View Details
    • Value Estimation by Request
      8.49 Acres

      2490 Us Hwy 41st N

      SHOPPING CENTER, STRIP CENTER • 8.49 Acres
      2490 Us Hwy 41st N, Henderson, KY 42420-2336
      View Details
    • Value Estimation by Request
      9.31 Acres

      2606 Zion Rd

      SHOPPING CENTER, STRIP CENTER • 9.31 Acres
      2606 Zion Rd, Henderson, KY 42420-5599
      View Details
    • Value Estimation by Request
      3,000 SF

      401 Hoffman Dr

      SHOPPING CENTER, STRIP CENTER • 3,000 SF
      401 Hoffman Dr, Henderson, KY 42420-3343
      View Details

    Similar Nearby for Sale

    • $375,000
      900 SF

      Paved Parking Area with Office

      Parking area with 900 SF office space for sale.
      405-415 8Th St, Henderson, KY 42420
      View Details
    • $1,625,000
      16,500 SF

      Henderson Restaurant - Prime Location

      Established Restaurant, 16,500 SF, High-Traffic Area
      512 Barret Blvd, Henderson, KY 42420
      View Details
    • $675,000
      1.48 Acres

      Henderson Restaurant & Commercial Land

      Prime 1.5-acre restaurant site, $675,000.
      2278 Green St, Henderson, KY 42420
      View Details
    • $549,000
      4,400 SF

      Adaptable Commercial Property in Henderson

      Versatile 4,400 sq ft commercial building near Henderson bypass.
      1651 S Green St, Henderson, KY 42420
      View Details
    • $675,000
      2,028 SF

      Restaurant Space with Extra Land

      Restaurant space with equipment and real property included in sale.
      2278 S Green St, Henderson, KY 42420
      View Details
    • $2,028,883
      2,925 SF

      KFC NNN Investment Property

      NNN KFC property in Henderson, KY with corporate guarantee.
      2236 Us Highway 41 N, Henderson, KY 42420
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      120,959 SF

      Audubon Village Retail Spaces

      Henderson, KY: Prime Retail Opportunity
      2480 Us Highway 41, Henderson, KY 42420
      View Details
    • $18 SF/Yr
      10,125 SF

      Highway 41 N Office Suite A

      Henderson, KY Office Space Available
      2202 Us Highway 41, Henderson, KY 42420
      View Details
    • $2,160 /Mo
      1,728 SF

      Downtown Henderson Commercial Space Available

      Prime commercial space in downtown Henderson near riverfront.
      110 3Rd St, Henderson, KY 42420
      View Details
    • $2,935 /Mo
      2,348 SF

      Downtown Henderson Commercial Space Available

      Prime commercial space in downtown Henderson, Kentucky.
      110 3Rd St, Henderson, KY 42420
      View Details
    • $22 SF/Yr
      3,516 SF

      Prime Retail Space in Henderson

      Versatile commercial space with high visibility and customizable interior.
      336 Rettig Rd, Henderson, KY 42420
      View Details
    • $20 SF/Yr
      3,083 SF

      Highway 41 Restaurant Space

      Henderson, KY Restaurant - 3,083 SF
      2222 Us Highway 41, Henderson, KY 42420
      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.
    1648 2nd St
    Henderson, KY 42420-3364
    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.