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Property profile & analytics
OFF-MARKET
Estimated value
$1,820,000
Outlet malls
2326 Russellville Rd Bowling Green, KY 42101-3921
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US34-0499522
Property summary
AI-generated overview
This exceptional flex space, located at 2326 Russellville Road in Warren County, offers a unique opportunity for businesses seeking versatile commercial space. The property, formerly occupied by Super Home Surplus, comprises two single-story buildings totaling 32,000 square feet on a 2.5-acre lot. The buildings, constructed in 1963 and extensively renovated in 2024, boast a Class B rating and offer multiple tenancy options. Spaces range from a minimum of 5,000 square feet to a maximum contiguous space of 30,000 square feet, providing flexibility for various business needs. The property features a 12-foot ceiling height, ample parking with 100+ spaces, three drive-in bays, and one loading dock. Its Highway Business zoning ensures high visibility and accessibility, benefiting from significant road frontage and high traffic volume. The property's four suites are currently vacant, presenting a blank canvas for immediate occupancy. This prime location offers a compelling combination of space, accessibility, and recent renovations, making it an ideal choice for a variety of businesses.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,440 SF
Lot
2.5 ac (108,900 SF)
APN
040A-62-004B
UPID
US34-0499522
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.82M
Owner & transaction history
Johnson Investment Properties LLC · 2 yrs held
Johnson Investment Properties LLC
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bowling Green submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bowling Green submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,810,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.82M
Range $1.64M – $2.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$58 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,433
Tax year 2023
Assessed value
$1,100,000
Assessed 2023
Previous assessed
$1,100,000
+0.0% YoY
Effective rate
0.86%
On assessed value
Total market value
$1,100,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
31,440 SF
Lot
2.5 ac (108,900 SF)
APN
040A-62-004B
UPID
US34-0499522
Jurisdiction
WARREN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
2.5 ac
Current owner
From public records · entity-resolved
Johnson Investment Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
115 CORPORATE CT, BOWLING GREEN, KY 42103-7026
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2023
$2,900,000
Johnson Investment Properties LLC
Russett Partners LLC
Deed
—
Nov 24, 2021
—
Russett Prtners LLC
—
Deed
related
$1,000,000 · Edmonton State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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