Two-Story Storefront with
For Sale
$400,000
10319 Watterson Trail, Louisville, KY 40299
CTC2 zoning supports retail, office, and other commercial uses with paved rear parking.
Property Size2,202 SF
Price / SF$181.65
Days on Market27
Property Features for 10319 Watterson Trail
General Information
Standard status
Active
Size
2,202 SF
Total Parking Spaces
12
Property subtype
Retail
Zoning
CTC2
Amenities
Power
Water
Sewer
Natural Gas
12 Parking Spaces
Building Details
Year Built
1968
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Exit Realty Home Front
(502) 592-1098
Listed By:
Louise Venettozzi · License #247851
(502) 592-1098
Source:
Kcrea.resimplifi
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 11:17PM
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 Exit Realty Home Front
Investment Insights
Based on property information with market context.
This 2,202-square-foot storefront property offers a three-level configuration with retail or office flexibility. The first floor includes approximately 962 square feet with an open customer area, entry and waiting space, and a bathroom. The second floor contains approximately 350 square feet arranged as two private rooms and another bathroom. A roughly 926-square-foot basement adds a kitchenette, storage, flex area, and mechanical room.
The paved parking area behind the building accommodates approximately 12–15 vehicles. The roof was replaced approximately 3 years ago, and cosmetic, electrical, mechanical, and plumbing improvements have been completed since 2017. CTC2 zoning supports a range of retail, office, and commercial applications. Wild Roots Hair Salon is the current occupant and is scheduled to leave by the end of August 2026. The property is offered in as-is condition and sits next to JTown Beach and its Wine Bar addition.
The paved parking area behind the building accommodates approximately 12–15 vehicles. The roof was replaced approximately 3 years ago, and cosmetic, electrical, mechanical, and plumbing improvements have been completed since 2017. CTC2 zoning supports a range of retail, office, and commercial applications. Wild Roots Hair Salon is the current occupant and is scheduled to leave by the end of August 2026. The property is offered in as-is condition and sits next to JTown Beach and its Wine Bar addition.
Key Highlights
- 2,202‑square‑foot storefront property with first‑floor, second‑floor, and basement areas
- Approximately 962 SF on the first floor with open salon area, entry, waiting space, and bath
- Approximately 350 SF on the second floor with 2 stylist rooms and bathroom
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
$23,694
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
5.92%
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%
$473,880
$473.9K
Cap Rate 7%
$338,486
$338.5K
Cap Rate 9%
$263,267
$263.3K
Market Conditions
NOI Build-Up for 2,202 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
$37.0K $16.80/SF
− Vacancy
−$3.1K −$1.43/SF
EGI
$33.8K $15.37/SF
− OpEx
−$10.2K −$4.61/SF
NOI
$23.7K $10.76/SF
Area
ZIP 40299
Vacancy
8.50%
Lease Rate
$16.80 /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%
$473,880
Cap Rate 7%
$338,486
Cap Rate 9%
$263,267
Alternative Uses
Best Use
Retail
$338.5K
$296.2K – $394.9K
NOI $23,694 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$539.0K
$471.7K – $628.9K
NOI $37,733 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
115k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 31%
Groceries 30%
Home Improvements & Furnishings 2%
Walmart Neighborhood Market
Groceries
34,768 visits/mo
0.4 miles
McDonald's
Dining
18,939 visits/mo
0.4 miles
Murphy USA
Shops & Services
12,771 visits/mo
0.4 miles
El Nopal
Dining
10,393 visits/mo
0.2 miles
Marathon
Shops & Services
9,511 visits/mo
0.1 miles
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
Median Home Value
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - CTC2 zoning supports retail, office, and other commercial uses with paved rear parking.
Where is this storefront property located?
The property is located at 10319 Watterson Trail Louisville, KY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,202‑square‑foot storefront property with first‑floor, second‑floor, and basement areas; Approximately 962 SF on the first floor with open salon area, entry, waiting space, and bath; Approximately 350 SF on the second floor with 2 stylist rooms and bathroom
