Permitted Airbnb and Office
For Sale
Contact for pricing
1101 Central Ave, Louisville, KY 40208
Fully permitted AirBnB/office with 3 bathrooms and a configuration positioned for short-term stays.
Property Size2,850 SF
Price / SF$149.12
Days on Market162
Property Features for 1101 Central Ave
General Information
Standard status
Active
Size
2,850 SF
Class
A
Property subtype
Office, Hospitality
Zoning
C1
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
1954
Year Renovated
1975
Tenancy
Multi
Listing Agency:
Dattilo Real Estate
Listed By:
Kimberly Dattilo · License #186777
(502) 849-6849
Source:
Crexi
Added: Mar 30
Changed: Aug 31
Last Checked: Aug 30 at 4:56PM
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 Dattilo Real Estate
Investment Insights
Based on property information with market context.
This fully permitted property is set up for short-term rentals as an AirBnB and includes office space, with three bathrooms. The offering is presented as ready to operate as a full building.
The property is located at 1101 Central Ave in Louisville, KY 40208, with the public remarks noting proximity within walking distance to Churchill Downs, the Exposition Center, and L&N Stadium.
In addition to its AirBnB/office configuration and bathroom count, the property’s permitted status is a key element of the asset as marketed. Interested parties should review the permits and operational setup details directly to confirm all requirements for use.
The property is located at 1101 Central Ave in Louisville, KY 40208, with the public remarks noting proximity within walking distance to Churchill Downs, the Exposition Center, and L&N Stadium.
In addition to its AirBnB/office configuration and bathroom count, the property’s permitted status is a key element of the asset as marketed. Interested parties should review the permits and operational setup details directly to confirm all requirements for use.
Key Highlights
- 1954‑built property with fully permitted AirBnB use.
- Configured for short‑term stays with an AirBnB/office layout.
- Includes 3 bathrooms.
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
$36,808
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
8.66%
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%
$736,160
$736.2K
Cap Rate 7%
$525,829
$525.8K
Cap Rate 9%
$408,978
$409.0K
Market Conditions
NOI Build-Up for 2,850 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
$59.9K $21.00/SF
− Vacancy
−$10.8K −$3.78/SF
EGI
$49.1K $17.22/SF
− OpEx
−$12.3K −$4.31/SF
NOI
$36.8K $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%
$736,160
Cap Rate 7%
$525,829
Cap Rate 9%
$408,978
Alternative Uses
Best Use
Office B
$525.8K
$460.1K – $613.5K
NOI $36,808 @ 7.0% cap · market cap 8.66%
Second Best
Hotel Hospitality
$153.2K
$134.0K – $178.7K
NOI $10,722 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
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?
Hotel - Fully permitted AirBnB/office with 3 bathrooms and a configuration positioned for short-term stays.
Where is this hotel located?
The property is located at 1101 Central Ave Louisville, KY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1954‑built property with fully permitted AirBnB use.; Configured for short‑term stays with an AirBnB/office layout.; Includes 3 bathrooms.
