Building Details

Year Built 1940

Stories 1

Listing Agency: Stuart Real Estate Group, LLC

Listed By: Stuart Flowers Show Phone

Source: Kcrea.resimplifi

Added: Sep 12, 2024 Changed: Oct 13 Last Checked: Oct 13 at 2:16AM

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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 Stuart Real Estate Group, LLC

Investment Insights

Based on property information with market context.

This 9,810-square-foot storefront occupies one floor and was built in 1940. C2-O zoning is in place, and the property includes 38 off-street parking spaces.

The building is located at 1140 Bardstown Road in Louisville, Kentucky, within the Highlands. Its frontage on Bardstown Road places the property directly along the corridor.

Key Highlights

• 9,810 square feet on one floor
• 38 off‑street parking spaces
• C2‑O zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$113,099

Cap Rate

3.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,261,980 $2.3M

Cap Rate 7%

$1,615,700 $1.6M

Cap Rate 9%

$1,256,656 $1.3M

Market Conditions

NOI Build-Up for 9,810 SF

Gross rent

$176.6K $18.00/SF

− Vacancy

−$15.0K −$1.53/SF

EGI

$161.6K $16.47/SF

− OpEx

−$48.5K −$4.94/SF

NOI

$113.1K $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 Rate 5%

$2,261,980

Cap Rate 7%

$1,615,700

Cap Rate 9%

$1,256,656

Alternative Uses

Best Use

Retail

$1.62M

$1.41M – $1.88M (±1% cap)

NOI $113,099 @ 7.0% cap · market cap 3.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.54M

$2.22M – $2.97M (±1% cap)

NOI $177,993 @ 7.0% cap · market cap 5.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Daycare Center Plumbing Service HVAC Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,102

Businesses Nearby

168k

Monthly Visits Nearby

Under-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

5.4% 2019

5.4% 2020

4.7% 2021

4.8% 2022

5.1% 2023

4.2% 2024

4.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - A single-level retail property with substantial on-site parking and C2-O zoning.

Where is this storefront property located?

The property is located at 1140 Bardstown Rd Louisville, KY.

What is the asking price?

The asking price for this property is $3,025,000.

What are key features of this property?

This property features: 9,810 square feet on one floor; 38 off‑street parking spaces; C2‑O zoning