Single-Story Flex Industrial
For Sale
$3,299,000
1136 W Market St, Louisville, KY 40203
C2-zoned property with clear-span space, a dedicated loading dock, and truck access for commercial operations.
Property Size30,826 SF
Lot Size1.36 Acres
Price / SF$107.02
Days on Market130
Property Features for 1136 W Market St
General Information
Standard status
Active
Size
30,826 SF
Total Parking Spaces
24
Lot size
1.36 Acres
Property subtype
Office
Zoning
C2
Warehouse & Industrial
Clear Span
Yes
Dock-High Doors
1
Additional Details
Asking Price
$3,299,000
Highway Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
24 Parking Spaces
Building Details
Year Built
1979
Buildings
1
Stories
1
Listing Agency:
Alton Webb & Associates
(502) 480-6024
Listed By:
John Leeper · License #283306
(502) 480-6024
Source:
Kcrea.resimplifi
Added: Apr 23
Changed: Aug 29
Last Checked: Aug 30 at 2:00PM
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 Alton Webb & Associates
Investment Insights
Based on property information with market context.
This 30,826-square-foot flex industrial building occupies 1.36 acres at 1136 W. Market St. in Louisville. Built in 1979, the single-story facility uses a clear-span layout to provide broad open space, complemented by an office and showroom component. A dedicated loading dock and truck access support distribution and warehouse functions, while the configuration also accommodates fulfillment, e-commerce, light industrial, manufacturing, and other flex commercial uses identified for the property.
The site is positioned minutes from UPS Worldport, Louisville International Airport, Ohio River ports, and I-64, I-65, I-71, and I-75. C2 zoning supports a range of retail, service, and light commercial or industrial activities under the Louisville Metro Land Development Code.
The site is positioned minutes from UPS Worldport, Louisville International Airport, Ohio River ports, and I-64, I-65, I-71, and I-75. C2 zoning supports a range of retail, service, and light commercial or industrial activities under the Louisville Metro Land Development Code.
Key Highlights
- 30,826 SF flex commercial and industrial building on 1.36 acres
- C2 zoning under the Louisville Metro Land Development Code
- Single‑story clear‑span design with expansive open space
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
$279,515
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
8.47%
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%
$5,590,300
$5.6M
Cap Rate 7%
$3,993,071
$4.0M
Cap Rate 9%
$3,105,722
$3.1M
Market Conditions
NOI Build-Up for 30,826 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
$462.4K $15.00/SF
− Vacancy
−$32.4K −$1.05/SF
EGI
$430.0K $13.95/SF
− OpEx
−$150.5K −$4.88/SF
NOI
$279.5K $9.07/SF
Area
Louisville, KY
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$5,590,300
Cap Rate 7%
$3,993,071
Cap Rate 9%
$3,105,722
Alternative Uses
Best Use
Flex RnD
$3.99M
$3.49M – $4.66M
NOI $279,515 @ 7.0% cap · market cap 8.47%
Second Best
Warehouse
$3.56M
$3.12M – $4.15M
NOI $249,229 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,307 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C2-zoned property with clear-span space, a dedicated loading dock, and truck access for commercial operations.
Where is this flex space located?
The property is located at 1136 W Market St Louisville, KY.
What is the asking price?
The asking price for this property is $3,299,000.
What are key features of this property?
This property features: 30,826 SF flex commercial and industrial building on 1.36 acres; C2 zoning under the Louisville Metro Land Development Code; Single‑story clear‑span design with expansive open space
