Furnished Office Unit with Private
New
For Sale
$125,000
10529 Timberwood Cir Suite E, Louisville, KY 40223
Second-floor office condo with flexible work areas, private signage, and furnishings available for continued professional use.
Property Size832 SF
Price / SF$150.24
Days on Market6
Property Features for 10529 Timberwood Cir Suite E
General Information
Standard status
Active
Size
832 SF
Class
Class B
Total Parking Spaces
149
Property subtype
Office
Zoning
OR3
Occupancy
100%
Space & Availability
Floor
2
Furnished
Yes
Additional Details
HOA Fee
$295.17
Office Units
1
Amenities
Power
Water
Sewer
149 Parking Spaces
Building Details
Year Built
1998
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
simpler.realestate
(502) 396-9595
Listed By:
Paul Jordan · License #PB21400935
(502) 396-9595
Source:
Kcrea.resimplifi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 1:15PM
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 832-square-foot furnished office condo occupies the second floor of a professional office building constructed in 1998. The layout includes a reception area, two generously sized offices, a work area with built-in file cabinets, coffee bar, two closets, and a restroom. Furniture and framed artwork are available to remain with the sale, subject to the buyer’s preference. The unit is designated OR3 and has a private entrance with prominent signage.
The building was updated within the last three years, and a new HVAC system was installed in September 2025. Existing occupants include real-estate agents, attorneys, financial advisors, builders, and marketing companies, creating a professional office setting. The property is located in Louisville’s East End.
The building was updated within the last three years, and a new HVAC system was installed in September 2025. Existing occupants include real-estate agents, attorneys, financial advisors, builders, and marketing companies, creating a professional office setting. The property is located in Louisville’s East End.
Key Highlights
- 832 SF second‑floor office condominium
- Reception area, two large offices, work area, coffee bar, two closets, and restroom
- Furniture and framed artwork may remain with the sale
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
$10,745
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
8.60%
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%
$214,900
$214.9K
Cap Rate 7%
$153,500
$153.5K
Cap Rate 9%
$119,389
$119.4K
Market Conditions
NOI Build-Up for 832 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
$17.5K $21.00/SF
− Vacancy
−$3.1K −$3.78/SF
EGI
$14.3K $17.22/SF
− OpEx
−$3.6K −$4.31/SF
NOI
$10.7K $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%
$214,900
Cap Rate 7%
$153,500
Cap Rate 9%
$119,389
Alternative Uses
Best Use
Office B
$153.5K
$134.3K – $179.1K
NOI $10,745 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$215.7K
$188.7K – $251.6K
NOI $15,096 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
844
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 - Second-floor office condo with flexible work areas, private signage, and furnishings available for continued professional use.
Where is this office units located?
The property is located at 10529 Timberwood Cir Suite E Louisville, KY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 832 SF second‑floor office condominium; Reception area, two large offices, work area, coffee bar, two closets, and restroom; Furniture and framed artwork may remain with the sale
