Turnkey Medical Office
For Sale
Contact for pricing
10300 Dixie Hwy, Louisville, KY 40272
Turnkey medical office building with seven exam rooms, dedicated X-ray room, and 22 on-site parking spaces.
Property Size5,250 SF
Price / SF$187.62
Days on Market61
Property Features for 10300 Dixie Hwy
General Information
Standard status
Active
Size
5,250 SF
Total Parking Spaces
22
Property subtype
Office
Zoning
Commercial District
Amenities
Cat5/Ethernet throughout
Building Details
Year Built
1986
Buildings
1
Stories
1
Listing Agency:
simpler.realestate
Listed By:
Althea Otis · License #KY 222851
(502) 664-4095
Source:
Crexi
Added: Jul 7
Changed: Aug 22
Last Checked: Sep 1 at 6:45PM
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 simpler.realestate
Investment Insights
Based on property information with market context.
This turnkey medical office building is offered with a flexible interior layout designed for clinical use. The space includes seven exam rooms, a dedicated X-ray room, a large nurses station, a generous reception area, a spacious waiting room, three private offices, and four bathrooms. Cat5/Ethernet is provided throughout, supporting modern communications needs.
The property is a 5,250-square-foot building situated on nearly an acre and is zoned C-2. It includes a 22-space on-site parking lot and is located on Dixie Hwy in Louisville, KY 40272, within a commercial corridor.
Beyond healthcare, the existing configuration is noted as adaptable for financial services, professional office use, or other multi-purpose applications consistent with the C-2 zoning.
The property is a 5,250-square-foot building situated on nearly an acre and is zoned C-2. It includes a 22-space on-site parking lot and is located on Dixie Hwy in Louisville, KY 40272, within a commercial corridor.
Beyond healthcare, the existing configuration is noted as adaptable for financial services, professional office use, or other multi-purpose applications consistent with the C-2 zoning.
Key Highlights
- 5,250 sq ft medical office building built in 1986 on nearly 1 acre
- C‑2 zoning with a flexible floorplan that includes 7 exam rooms and a dedicated X‑ray room
- Includes 3 private offices, a large nurses station, and generous reception and waiting areas
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
$68,040
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
6.91%
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%
$1,360,800
$1.4M
Cap Rate 7%
$972,000
$972.0K
Cap Rate 9%
$756,000
$756.0K
Market Conditions
NOI Build-Up for 5,250 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
$126.0K $24.00/SF
− Vacancy
−$12.6K −$2.40/SF
EGI
$113.4K $21.60/SF
− OpEx
−$45.4K −$8.64/SF
NOI
$68.0K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,360,800
Cap Rate 7%
$972,000
Cap Rate 9%
$756,000
Alternative Uses
Best Use
Healthcare Medical
$972.0K
$850.5K – $1.13M
NOI $68,040 @ 7.0% cap · market cap 6.91%
Second Best
Office B
$968.6K
$847.6K – $1.13M
NOI $67,804 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,256 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office building with seven exam rooms, dedicated X-ray room, and 22 on-site parking spaces.
Where is this medical office space located?
The property is located at 10300 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 5,250 sq ft medical office building built in 1986 on nearly 1 acre; C‑2 zoning with a flexible floorplan that includes 7 exam rooms and a dedicated X‑ray room; Includes 3 private offices, a large nurses station, and generous reception and waiting areas
