Two-Building Manufacturing
New
For Sale
$16,025,000
11301 & 11401 Electron Drive, Louisville, KY 40299
The occupied industrial property combines production and distribution functions with paint and powder-coating capabilities.
Property Size154,654 SF
Price / SF$103.62
Days on Market3
Property Features for 11301 & 11401 Electron Drive
General Information
Standard status
Active
Size
154,654 SF
Property subtype
Industrial
Occupancy
100%
Warehouse & Industrial
Clear Height
22 ft
Dock-High Doors
8
Drive-In Doors
6
Additional Details
Asking Price
$16,025,000
Building Details
Building Size
154,654 SF
Buildings
2
Listing Agency:
Lee & Associates | Cincinnati
Listed By:
John Rickert, CCIM · License #OH #BRKP.2002022025
(513) 272-6800
Source:
Lee-associates
Added: Sep 24
Last Checked: Sep 26 at 3:32AM
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 Lee & Associates | Cincinnati
Investment Insights
Based on property information with market context.
This 154,654-square-foot manufacturing campus consists of two connected buildings at 11301 and 11401 Electron Drive. Production areas are gas heated, with 240/480V electrical service, a 5-ton crane, and paint and powder-coating capabilities. Recent work includes improvements to the offices, parking, roof, LED lighting, and exhaust systems. The buildings provide a mix of dock and drive-in doors, with 22-foot clear heights.
The campus is in Louisville’s Bluegrass industrial submarket. It is fully leased and occupied, with the lease term running through 2037.
The campus is in Louisville’s Bluegrass industrial submarket. It is fully leased and occupied, with the lease term running through 2037.
Key Highlights
- 154,654 SF across two integrated manufacturing buildings
- 100% leased and occupied; lease term through 2037
- 11301 Electron Drive: six dock doors and one drive‑in door
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
$752,217
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
4.69%
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%
$15,044,340
$15.0M
Cap Rate 7%
$10,745,957
$10.7M
Cap Rate 9%
$8,357,967
$8.4M
Market Conditions
NOI Build-Up for 154,654 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
$946.5K $6.12/SF
− Vacancy
−$61.5K −$0.40/SF
EGI
$885.0K $5.72/SF
− OpEx
−$132.7K −$0.86/SF
NOI
$752.2K $4.86/SF
Area
ZIP 40299
Vacancy
6.50%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
15.00%
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%
$15,044,340
Cap Rate 7%
$10,745,957
Cap Rate 9%
$8,357,967
Alternative Uses
Best Use
Warehouse
$10.75M
$9.40M – $12.54M
NOI $752,217 @ 7.0% cap · market cap 4.69%
Second Best
Industrial
$9.08M
$7.94M – $10.59M
NOI $635,374 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$37.86M
$33.13M – $44.17M
NOI $2,650,151 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
22 ft
Clear height
8
Dock-high doors
6
Drive-in doors
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
548
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - The occupied industrial property combines production and distribution functions with paint and powder-coating capabilities.
Where is this manufacturing property located?
The property is located at 11301 & 11401 Electron Drive Louisville, KY.
What is the asking price?
The asking price for this property is $16,025,000.
What are key features of this property?
This property features: 154,654 SF across two integrated manufacturing buildings; 100% leased and occupied; lease term through 2037; 11301 Electron Drive: six dock doors and one drive‑in door
