Five-Space Neighborhood Retail
For Sale
$675,000
1119 E Kentucky St, Louisville, KY 40204
C1-zoned storefront property with flexible division, display windows, and established barber, yoga, and clothing uses.
Property Size4,454 SF
Price / SF$151.55
Days on Market405
Property Features for 1119 E Kentucky St
General Information
Standard status
Active
Size
4,454 SF
Property subtype
Retail
Zoning
C1
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1930
Listing Agency:
England Associates
(502) 635-5936
Listed By:
Mark England · License #194217
(502) 635-5936
Source:
Kcrea.resimplifi
Added: Jul 22, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:47PM
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 England Associates
Investment Insights
Based on property information with market context.
Built in 1930, this 4,454-square-foot retail property contains five street-facing spaces that may remain combined or operate independently. The building presents large display windows, glass block transoms, black tile wainscoting, and decorative tilework along the roofline. A basement area with separate meters is located beneath Space 1127, while the other spaces are built on a concrete slab. An east-side garden area adds an outdoor element to the property.
The five spaces are individually addressed along Kentucky Street at 1119, 1121, 1123, 1125, and 1127 Kentucky St. Existing occupancy includes a barber shop, an owner-operated yoga studio spanning three spaces, and a clothing store. The C1 zoning designation supports neighborhood-scale retail, personal services, office, studio, and other low-intensity commercial uses.
The five spaces are individually addressed along Kentucky Street at 1119, 1121, 1123, 1125, and 1127 Kentucky St. Existing occupancy includes a barber shop, an owner-operated yoga studio spanning three spaces, and a clothing store. The C1 zoning designation supports neighborhood-scale retail, personal services, office, studio, and other low-intensity commercial uses.
Key Highlights
- Five contiguous or divisible retail spaces with individual street addresses
- 4,454 SF building on Kentucky Street in Louisville, KY
- C1 zoning supports retail, personal services, office, studio, and other low‑intensity commercial uses
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
$51,350
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
7.61%
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%
$1,027,000
$1.0M
Cap Rate 7%
$733,571
$733.6K
Cap Rate 9%
$570,556
$570.6K
Market Conditions
NOI Build-Up for 4,454 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
$80.2K $18.00/SF
− Vacancy
−$6.8K −$1.53/SF
EGI
$73.4K $16.47/SF
− OpEx
−$22.0K −$4.94/SF
NOI
$51.4K $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%
$1,027,000
Cap Rate 7%
$733,571
Cap Rate 9%
$570,556
Alternative Uses
Best Use
Retail
$733.6K
$641.9K – $855.8K
NOI $51,350 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,813 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
4,123 visits/mo
0.3 miles
Pantry
Shops & Services
2,570 visits/mo
0.4 miles
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 Retail 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?
Retail space - C1-zoned storefront property with flexible division, display windows, and established barber, yoga, and clothing uses.
Where is this retail space located?
The property is located at 1119 E Kentucky St Louisville, KY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Five contiguous or divisible retail spaces with individual street addresses; 4,454 SF building on Kentucky Street in Louisville, KY; C1 zoning supports retail, personal services, office, studio, and other low‑intensity commercial uses
