Renovated Mixed-Use
For Sale
$850,000
1110 Logan St, Louisville, KY 40204
Multi Family, Louisville, KY
Property Size3,625 SF
Lot Size0.17 Acres
Price / SF$234.48
Days on Market40
Property Features for 1110 Logan St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Deck, Porch
Directions
On Logan Street between Mary Street and E St. Catherine Street.
Subdivision
02-Butchertwn/Hghlnds/Germantwn
Standard status
Active
APN
09025A00430000
Size
3,625 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Number of units
3
Building materials
Aluminum Siding
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
Stephanie L Gilezan · License #199560
(502) 817-6484
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 28 at 7:06PM
MLS# 1724023
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated mixed-use triplex contains 3,625 square feet across three occupied units: a ground-floor commercial space and two furnished one-bedroom, one-bath residences. The property was built in 1950 and includes aluminum siding, a shingle roof, deck and porch areas, and separate metering for the units.
Positioned at 1110 Logan St in Louisville’s Shelby Park and Logan Street corridor, the building is directly across from Logan Street Market and near Germantown, NuLu, and Downtown. The 0.17-acre parcel provides 10 off-street parking spaces, a notable on-site feature for the area. C-2 zoning is identified in the property information, with short-term rental eligibility subject to buyer verification. Public water and public sewer serve the property.
Positioned at 1110 Logan St in Louisville’s Shelby Park and Logan Street corridor, the building is directly across from Logan Street Market and near Germantown, NuLu, and Downtown. The 0.17-acre parcel provides 10 off-street parking spaces, a notable on-site feature for the area. C-2 zoning is identified in the property information, with short-term rental eligibility subject to buyer verification. Public water and public sewer serve the property.
Key Highlights
- Renovated three‑unit mixed‑use building with 3,625 square feet
- 0.17‑acre lot with 10 off‑street parking spaces
- Ground‑floor commercial unit plus two furnished 1BR/1BA residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,065
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,300
$861.3K
Cap Rate 7%
$615,214
$615.2K
Cap Rate 9%
$478,500
$478.5K
Market Conditions
NOI Build-Up for 3,625 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.3K $21.60/SF
− Vacancy
−$9.4K −$2.59/SF
EGI
$68.9K $19.01/SF
− OpEx
−$25.8K −$7.13/SF
NOI
$43.1K $11.88/SF
Area
Louisville, KY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,300
Cap Rate 7%
$615,214
Cap Rate 9%
$478,500
Alternative Uses
Best Use
Mixed Use
$615.2K
$538.3K – $717.8K
NOI $43,065 @ 7.0% cap · market cap 5.07%
Second Best
Multifamily LT 5
$435.7K
$381.3K – $508.4K
NOI $30,502 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$939.6K
$822.2K – $1.10M
NOI $65,772 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with commercial space, furnished residences, separate metering, and off-street parking.
Where is this triplex located?
The property is located at 1110 Logan St Louisville, KY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Renovated three‑unit mixed‑use building with 3,625 square feet; 0.17‑acre lot with 10 off‑street parking spaces; Ground‑floor commercial unit plus two furnished 1BR/1BA residences
