Renovated Three-Unit
For Sale
$995,000
1025 E Main St, Louisville, KY 40206
CM-zoned retail property includes three units, rear parking, and a patio.
Property Size2,464 SF
Price / SF$403.81
Days on Market101
Property Features for 1025 E Main St
General Information
Standard status
Active
Size
2,464 SF
Total Parking Spaces
5
Property subtype
Hospitality
Zoning
CM
Additional Details
Road Access
Yes
Amenities
rear patio
5 Parking Spaces
Building Details
Year Built
1900
Tenancy
Multiple Tenants
Listing Agency:
CORE Real Estate Partners
(502) 558-8078
Listed By:
Tyler Smith · License #215060
(502) 558-8078
Source:
Kcrea.resimplifi
Added: May 21
Changed: Aug 28
Last Checked: Aug 28 at 8:03PM
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 CORE Real Estate Partners
Investment Insights
Based on property information with market context.
This 2,464-square-foot retail property contains three units and has undergone renovation. Built in 1900, the storefront offers customer access from E. Main Street, along with a secondary rear entry via an alley connected to E. Washington Street. Rear parking and a patio are included in the property’s physical improvements.
The property is situated in Butchertown at Butcher Block, with neighboring businesses including Tartan House Cocktail Lounge, Moon Dog restaurant, Ten20 Brewery, and Naive. Its CM zoning and three-unit configuration support the existing short-term retail format described for the property.
The property is situated in Butchertown at Butcher Block, with neighboring businesses including Tartan House Cocktail Lounge, Moon Dog restaurant, Ten20 Brewery, and Naive. Its CM zoning and three-unit configuration support the existing short-term retail format described for the property.
Key Highlights
- 2,464 SF retail property with three units
- Newly renovated improvements in a building constructed in 1900
- CM zoning designation
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
$28,407
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
2.85%
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%
$568,140
$568.1K
Cap Rate 7%
$405,814
$405.8K
Cap Rate 9%
$315,633
$315.6K
Market Conditions
NOI Build-Up for 2,464 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
$44.4K $18.00/SF
− Vacancy
−$3.8K −$1.53/SF
EGI
$40.6K $16.47/SF
− OpEx
−$12.2K −$4.94/SF
NOI
$28.4K $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 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%
$568,140
Cap Rate 7%
$405,814
Cap Rate 9%
$315,633
Alternative Uses
Best Use
Retail
$405.8K
$355.1K – $473.5K
NOI $28,407 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$638.7K
$558.8K – $745.1K
NOI $44,707 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,520
Businesses Nearby
1k
Monthly Visits Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - CM-zoned retail property includes three units, rear parking, and a patio.
Where is this storefront property located?
The property is located at 1025 E Main St Louisville, KY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,464 SF retail property with three units; Newly renovated improvements in a building constructed in 1900; CM zoning designation
