Renovated Restaurant with
For Sale
$825,000
1022 Clarks Ln, Louisville, KY 40217
C1-zoned restaurant property with a second-floor apartment and fully equipped commercial kitchen.
Property Size6,700 SF
Price / SF$123.13
Days on Market76
Property Features for 1022 Clarks Ln
General Information
Standard status
Active
Size
6,700 SF
Total Parking Spaces
26
Property subtype
Retail
Zoning
C1
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Amenities
26 Parking Spaces
Listing Agency:
Walter Wagner, Jr Co., LLC
Listed By:
Kevin Sullivan · License #77474
(502) 724-2550
Source:
Kcrea.resimplifi
Added: Aug 1
Changed: Oct 2
Last Checked: Oct 14 at 7:40PM
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 Walter Wagner, Jr Co., LLC
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Investment Insights
Based on property information with market context.
The property includes 5,825 square feet dedicated to restaurant and kitchen operations, plus an 875-square-foot second-floor apartment. Interior features include a bar with tap system, game room, pool tables, shuffleboard, multiple dining rooms, and garage-door access to patio-style indoor/outdoor seating. Dining areas are wired for TVs and sound.
The included commercial kitchen features twin deck pizza ovens, mixers, stoves, reach-in and walk-in refrigeration, a conveyor dishwasher, prep areas, storage, and basement cold storage. Most kitchen and bar equipment is 4–5 years old, and the property has on-site parking. The apartment may support owner occupancy or rental use. The property is zoned C1 and is currently operating as a business.
The included commercial kitchen features twin deck pizza ovens, mixers, stoves, reach-in and walk-in refrigeration, a conveyor dishwasher, prep areas, storage, and basement cold storage. Most kitchen and bar equipment is 4–5 years old, and the property has on-site parking. The apartment may support owner occupancy or rental use. The property is zoned C1 and is currently operating as a business.
Key Highlights
- 5,825 SF restaurant and kitchen space plus an 875 SF second‑floor apartment
- Commercial kitchen includes twin deck pizza ovens, mixers, stoves, and refrigeration
- Bar with tap system, game room, pool tables, and shuffleboard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,100
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,000
$802.0K
Cap Rate 7%
$572,857
$572.9K
Cap Rate 9%
$445,556
$445.6K
Market Conditions
NOI Build-Up for 6,700 SF
Gross rent
$60.3K $9.00/SF
− Vacancy
−$3.0K −$0.45/SF
EGI
$57.3K $8.55/SF
− OpEx
−$17.2K −$2.56/SF
NOI
$40.1K $5.98/SF
Area
Louisville, KY
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,000
Cap Rate 7%
$572,857
Cap Rate 9%
$445,556
Alternative Uses
Best Use
Specialty Retail
$1.35M
$1.18M – $1.57M
NOI $94,155 @ 7.0% cap · market cap 11.41%
Second Best
Industrial
$572.9K
$501.3K – $668.3K
NOI $40,100 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,565 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,364
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 60%
Shops & Services 38%
Dining 2%
Kroger
Groceries
53,269 visits/mo
0.4 miles
Speedway
Shops & Services
17,491 visits/mo
0.1 miles
Kroger Fuel Center
Shops & Services
15,871 visits/mo
0.4 miles
SUBWAY
Dining
1,639 visits/mo
0.4 miles
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
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?
Conventional restaurant - C1-zoned restaurant property with a second-floor apartment and fully equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 1022 Clarks Ln Louisville, KY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 5,825 SF restaurant and kitchen space plus an 875 SF second‑floor apartment; Commercial kitchen includes twin deck pizza ovens, mixers, stoves, and refrigeration; Bar with tap system, game room, pool tables, and shuffleboard
