Established Bar in Louisville
For Sale
Contact for pricing
1123 Bardstown Rd, Louisville, KY 40204
Well-established bar with infrastructure, patio, and parking.
Property Size2,561 SF
Price / SF$304.57
Days on Market158
Property Features for 1123 Bardstown Rd
General Information
Standard status
Active
Size
2,561 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1923
Stories
1
Listing Agency:
United Real Estate Louisville
(502) 645-1729
Listed By:
Katie Renfro · License #KY 271918
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 11 at 5:31PM
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 United Real Estate Louisville
Investment Insights
Based on property information with market context.
Located at 1123 Bardstown Road, this property is home to Akiko’s Karaoke Bar, a well-established destination in the Highlands area of Louisville. The surrounding area features popular nightlife establishments, including Chill Bar, Atomic, The Hub, and Neat. The property benefits from excellent visibility, consistent foot traffic, and proximity to strong neighboring businesses. It offers a prime investment opportunity in the heart of Louisville. The property includes existing bar infrastructure, two restrooms, a back patio, and several off-street parking spaces. The flexible C2 zoning allows for various potential uses. The property has a size of 2561 square feet. The adjacent mixed-use property at 1121 Bardstown Rd. is also available for sale.
Key Highlights
- Prime location on Bardstown Road in the Highlands, surrounded by popular nightlife destinations.
- Existing bar infrastructure in place, ready for immediate operation.
- Flexible C2 zoning allows for a variety of potential 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
$35,990
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
4.61%
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%
$719,800
$719.8K
Cap Rate 7%
$514,143
$514.1K
Cap Rate 9%
$399,889
$399.9K
Market Conditions
NOI Build-Up for 2,561 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
$51.3K $20.04/SF
− Vacancy
−$3.3K −$1.30/SF
EGI
$48.0K $18.74/SF
− OpEx
−$12.0K −$4.68/SF
NOI
$36.0K $14.05/SF
Area
Louisville, KY
Vacancy
6.50%
Lease Rate
$20.04 /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%
$719,800
Cap Rate 7%
$514,143
Cap Rate 9%
$399,889
Alternative Uses
Best Use
Specialty Retail
$514.1K
$449.9K – $599.8K
NOI $35,990 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.8K
$580.8K – $774.5K
NOI $46,467 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
168k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 23%
Home Improvements & Furnishings 2%
Electronics 1%
Raising Cane's Chicken Fingers
Dining
41,576 visits/mo
0.1 miles
Speedway
Shops & Services
22,524 visits/mo
0.1 miles
McDonald's
Dining
17,743 visits/mo
0.1 miles
Heine Brothers Coffee
Dining
13,405 visits/mo
0.2 miles
Wendy's
Dining
12,413 visits/mo
0.1 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.
Similar Off Market Nearby
- Cafe 360 — 1582 Bardstown Rd, Louisville, KY 40205
- Boombozz Pizza - Highlands — 1448 Bardstown Rd, Louisville, KY 40204
- Against the Grain Brewery and Public House — 1576 Bardstown Rd, Louisville, KY 40205
- LouVino Highlands Restaurant & Wine Bar — 1606 Bardstown Rd, Louisville, KY 40205
- Shenanigans Irish Grille — 1611 Norris Pl, Louisville, KY 40205
Frequently Asked Questions
What type of property is this?
Bar & Pub - Well-established bar with infrastructure, patio, and parking.
Where is this bar & pub located?
The property is located at 1123 Bardstown Rd Louisville, KY.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Prime location on Bardstown Road in the Highlands, surrounded by popular nightlife destinations.; Existing bar infrastructure in place, ready for immediate operation.; Flexible C2 zoning allows for a variety of potential uses.
