Commercial Land with Existing
For Sale
$1,250,000
Pending
1001 Story Ave, Louisville, KY 40206
CM zoning applies to a parcel improved with an existing structure.
Property Size7,200 SF
Days on Market26
Property Features for 1001 Story Ave
General Information
Standard status
Pending
Size
7,200 SF
Property subtype
Retail
Zoning
CM
Amenities
Power
Vacant
Listing Agency:
Hoagland Commercial
Listed By:
Brooks Hower · License #72257
(502) 593-3304
Source:
Kcrea.resimplifi
Added: Sep 21
Changed: Oct 13
Last Checked: Oct 16 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoagland Commercial
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Investment Insights
Based on property information with market context.
This 0.47-acre commercial parcel in Louisville includes an existing 7,200-square-foot building. The property is zoned CM, providing a defined commercial land-use designation for the site.
The property is located at 1001 Story Ave in Louisville, Kentucky.
The property is located at 1001 Story Ave in Louisville, Kentucky.
Key Highlights
- 0.47‑acre parcel
- Existing building contains 7,200 square feet
- Zoned CM
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,009
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,660,180
$1.7M
Cap Rate 7%
$1,185,843
$1.2M
Cap Rate 9%
$922,322
$922.3K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$129.6K $18.00/SF
− Vacancy
−$11.0K −$1.53/SF
EGI
$118.6K $16.47/SF
− OpEx
−$35.6K −$4.94/SF
NOI
$83.0K $11.53/SF
Area
Louisville, KY
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,660,180
Cap Rate 7%
$1,185,843
Cap Rate 9%
$922,322
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.38M
NOI $83,009 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,520
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Prime Storage
Shops & Services
1,218 visits/mo
0.2 miles
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Louisville, KY
Frequently Asked Questions
What type of property is this?
Commercial land - CM zoning applies to a parcel improved with an existing structure.
Where is this commercial land located?
The property is located at 1001 Story Ave Louisville, KY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 0.47‑acre parcel; Existing building contains 7,200 square feet; Zoned CM
