Storefront with Upstairs
For Sale
$350,000
1140 S 3rd St, Louisville, KY 40203
MULTI_FAMILY - Other - Louisville, KY
Property Size3,000 SF
Price / SF$116.67
Days on Market73
Property Features for 1140 S 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Rooms
Basement
Subdivision
OLD LOUISVILLE
Directions
3rd St between E St Catherine and Oak
Standard status
Active
APN
08029K00980000
Size
3,000 SF
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1927
Number of units
2
Building materials
Brick, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Vijay Addala · License #265343
(302) 897-9899
Added: May 20
Changed: Jun 16
Last Checked: Jul 31 at 8:06AM
MLS# 1717885
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 mixed-use property in Louisville, Kentucky, features a storefront building with an apartment located upstairs. The property is approximately 3000 square feet. Buyers are advised to independently verify the square footage.
Key Highlights
- Storefront building with upstairs apartment
- Durable brick and stucco construction
- Central air conditioning for year‑round comfort
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $12.72 |
| − Vacancy | −$2.1k | −$0.70 |
| EGI | $36.1k | $12.02 |
| − OpEx | −$10.8k | −$3.61 |
| NOI | $25.2k | $8.41 |
3,000 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$509.1K
$445.5K – $594.0K
NOI $35,640 @ 7.0% cap · market cap 10.18%
Second Best
Retail
$494.1K
$432.3K – $576.5K
NOI $34,587 @ 7.0% cap · market cap 9.88%
Theoretical Best
Office A
$777.6K
$680.4K – $907.2K
NOI $54,432 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
Market
Properties on Market for Mixed-use properties in Jefferson County
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring a storefront and upstairs apartment.
Where is this mixed-use property located?
The property is located at 1140 S 3rd St Louisville, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Storefront building with upstairs apartment; Durable brick and stucco construction; Central air conditioning for year‑round comfort
