First-Floor Office
For Sale
$125,500
Pending
10525-10531 Timberwood Cir, Louisville, KY 40223
Accessible office condominium with private offices, reception, storage, and direct parking access.
Property Size752 SF
Days on Market401
Property Features for 10525-10531 Timberwood Cir
General Information
Standard status
Pending
Size
752 SF
Property subtype
Other
Zoning
R-3
Amenities
Power
Water
Sewer
Building Details
Year Built
1999
Listing Agency:
simpler.realestate
Listed By:
William Myers
(502) 639-5399
Source:
Kcrea.resimplifi
Added: Jul 30, 2025
Changed: Aug 30
Last Checked: Sep 2 at 1:56PM
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 752 SF first-floor office condominium includes three private offices, a reception area, a half bath, and substantial interior storage. The unit is handicap accessible and provides direct entry from the parking area. A separate storage area in the basement is included with the sale.
Constructed in 1999, the office has been maintained and improved by its original owner. The HVAC system was replaced in 2023, and the bathroom was updated the same year. The property is located at 10525-10531 Timberwood Cir in Louisville, Kentucky, and carries R-3 zoning.
Constructed in 1999, the office has been maintained and improved by its original owner. The HVAC system was replaced in 2023, and the bathroom was updated the same year. The property is located at 10525-10531 Timberwood Cir in Louisville, Kentucky, and carries R-3 zoning.
Key Highlights
- 752 SF first‑floor office condominium
- Three private offices plus reception area and half bath
- Direct access from parking and handicap accessibility
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
$9,712
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
7.74%
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%
$194,240
$194.2K
Cap Rate 7%
$138,743
$138.7K
Cap Rate 9%
$107,911
$107.9K
Market Conditions
NOI Build-Up for 752 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
$15.8K $21.00/SF
− Vacancy
−$2.8K −$3.78/SF
EGI
$12.9K $17.22/SF
− OpEx
−$3.2K −$4.31/SF
NOI
$9.7K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$194,240
Cap Rate 7%
$138,743
Cap Rate 9%
$107,911
Alternative Uses
Best Use
Office B
$138.7K
$121.4K – $161.9K
NOI $9,712 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$194.9K
$170.6K – $227.4K
NOI $13,644 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 40223, KY
23,227
Population
10,387
Households
2.2
Avg Household Size
42
Median Age
58%
College-Educated
97%
High-School Grad
12.1 sq mi
ZIP Area
1,920
Density / Sq Mi
$97,033
Median Household Income
$60,744
Median Earnings
$1,431
Median Rent
$343,600
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?
Office units - Accessible office condominium with private offices, reception, storage, and direct parking access.
Where is this office units located?
The property is located at 10525-10531 Timberwood Cir Louisville, KY.
What is the asking price?
The asking price for this property is $125,500.
What are key features of this property?
This property features: 752 SF first‑floor office condominium; Three private offices plus reception area and half bath; Direct access from parking and handicap accessibility
