Office Unit with Private
For Sale
Contact for pricing
10839 Blankenbaker Pkwy, Louisville, KY 40299
Functional office configuration with kitchenette, full bathroom, storage, and separate front and rear access.
Property Size1,321 SF
Price / SF$150.64
Days on Market10
Property Features for 10839 Blankenbaker Pkwy
General Information
Standard status
Active
Size
1,321 SF
Property subtype
Office
Zoning
PEC
Building Details
Year Built
1981
Listing Agency:
Horizon Commercial Realty
Listed By:
Nathan Mosley · License #KY 274893
Source:
Crexi
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 6 at 11:00AM
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 Horizon Commercial Realty
Investment Insights
Based on property information with market context.
This 1,321-square-foot office unit, built in 1981, provides a practical layout for professional operations. The suite includes four private offices, with one larger room suitable for conference use, plus a kitchenette, full bathroom, closet storage, and entrances at both the front and rear. The property is identified as PEC zoning.
The office is positioned within Bluegrass Industrial Park at the intersection of Bluegrass Parkway and Watterson Trail. Its Louisville location provides access to I-64 while placing the property within an established industrial park setting.
The office is positioned within Bluegrass Industrial Park at the intersection of Bluegrass Parkway and Watterson Trail. Its Louisville location provides access to I-64 while placing the property within an established industrial park setting.
Key Highlights
- 1,321 SF office unit in Bluegrass Industrial Park
- Four private offices, including a larger conference room‑capable office
- Kitchenette, full bathroom, and closet storage
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
$15,598
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
7.84%
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%
$311,960
$312.0K
Cap Rate 7%
$222,829
$222.8K
Cap Rate 9%
$173,311
$173.3K
Market Conditions
NOI Build-Up for 1,321 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
$25.4K $19.20/SF
− Vacancy
−$4.6K −$3.46/SF
EGI
$20.8K $15.74/SF
− OpEx
−$5.2K −$3.94/SF
NOI
$15.6K $11.81/SF
Area
ZIP 40299
Vacancy
18.00%
Lease Rate
$19.20 /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%
$311,960
Cap Rate 7%
$222,829
Cap Rate 9%
$173,311
Alternative Uses
Best Use
Office B
$222.8K
$195.0K – $260.0K
NOI $15,598 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.4K
$283.0K – $377.3K
NOI $22,637 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Explore this area
Business Placement
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 Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Functional office configuration with kitchenette, full bathroom, storage, and separate front and rear access.
Where is this office units located?
The property is located at 10839 Blankenbaker Pkwy Louisville, KY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1,321 SF office unit in Bluegrass Industrial Park; Four private offices, including a larger conference room‑capable office; Kitchenette, full bathroom, and closet storage
