Conventional Restaurant with
For Sale
$1,950,000
1064 Bardstown Rd, Louisville, KY 40204
Flexible commercial space with outdoor dining capability, on-site parking, and negotiable furniture, fixtures, and equipment.
Property Size15,000 SF
Lot Size0.55 Acres
Price / SF$130
Days on Market28
Property Features for 1064 Bardstown Rd
General Information
Standard status
Active
Size
15,000 SF
Total Parking Spaces
30
Lot size
0.55 Acres
Property subtype
Retail
Zoning
C2
Additional Details
Asking Price
$1,950,000
Road Access
Yes
Patio
Yes
Amenities
Vacant
30 Parking Spaces
Listing Agency:
The Menish Group Auction & Real Estate
(502) 939-0399
Listed By:
Bill Menish
(502) 939-0399
Source:
Kcrea.resimplifi
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 30 at 7:25PM
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 The Menish Group Auction & Real Estate
Investment Insights
Based on property information with market context.
Located at 1064–1066 Bardstown Road in Louisville’s Highlands, this C2-zoned conventional restaurant property offers more than 15,000 square feet of flexible commercial space on approximately 0.55 acres. The layout can be subdivided, supporting varied operational configurations within the existing building.
The property is currently operating as a turn-key restaurant and includes a spacious upstairs patio suited to outdoor dining, private events, or entertainment. Furniture, fixtures, and equipment are negotiable. On-site parking includes 30 spaces, supplemented by surrounding street parking along Bardstown Road.
The property is currently operating as a turn-key restaurant and includes a spacious upstairs patio suited to outdoor dining, private events, or entertainment. Furniture, fixtures, and equipment are negotiable. On-site parking includes 30 spaces, supplemented by surrounding street parking along Bardstown Road.
Key Highlights
- More than 15,000 square feet of flexible space that can be subdivided
- Approximately 0.55 acres in Louisville’s Highlands
- C2 zoning
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
$172,935
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
8.87%
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%
$3,458,700
$3.5M
Cap Rate 7%
$2,470,500
$2.5M
Cap Rate 9%
$1,921,500
$1.9M
Market Conditions
NOI Build-Up for 15,000 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
$270.0K $18.00/SF
− Vacancy
−$23.0K −$1.53/SF
EGI
$247.1K $16.47/SF
− OpEx
−$74.1K −$4.94/SF
NOI
$172.9K $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%
$3,458,700
Cap Rate 7%
$2,470,500
Cap Rate 9%
$1,921,500
Alternative Uses
Best Use
Specialty Retail
$3.01M
$2.63M – $3.51M
NOI $210,796 @ 7.0% cap · market cap 10.81%
Second Best
Retail
$2.47M
$2.16M – $2.88M
NOI $172,935 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,160 @ 7.0% cap · market cap 13.96%
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
1,358
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Conventional restaurant - Flexible commercial space with outdoor dining capability, on-site parking, and negotiable furniture, fixtures, and equipment.
Where is this conventional restaurant located?
The property is located at 1064 Bardstown Rd Louisville, KY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: More than 15,000 square feet of flexible space that can be subdivided; Approximately 0.55 acres in Louisville’s Highlands; C2 zoning
