Two-Building Storefront
New
For Sale
$1,300,000
118 Bauer Avenue, Louisville, KY 40207
Freestanding commercial buildings combine showroom, office, and adaptable layouts within a C-2 zoning designation.
Property Size7,587 SF
Lot Size0.27 Acres
Price / SF$171.35
Days on Market2
Property Features for 118 Bauer Avenue
General Information
Standard status
Active
Size
7,587 SF
Total Parking Spaces
19
Lot size
0.27 Acres
Property subtype
Free Standing Building
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
7,587 SF
Year Built
1925
Buildings
2
Stories
2
Listing Agency:
Nexus Commercial Advisors
(502) 724-7325
Listed By:
Charlotte Hollkamp, CCIM
(502) 724-7325
Source:
Thebrokerlist
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 8:07AM
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 Nexus Commercial Advisors
Investment Insights
Based on property information with market context.
This C-2 commercial property includes two freestanding buildings totaling approximately 7,587 square feet on 0.2686 acres. The 118 Bauer Avenue building contains approximately 3,587 square feet with a showroom, five private offices, a conference room, three restrooms, storage rooms, a break room and kitchenette, reception and waiting areas, and a second-floor staircase. Two monument signs serve the building.
At 116 Bauer Avenue, the two-story building provides approximately 4,000 square feet, with roughly 2,000 square feet per floor. The first level includes a restroom, break room and kitchenette, mechanical rooms, and front and rear entrances. The upper level contains private offices, open work areas, restrooms, storage, mechanical space, and reception and waiting areas.
Parking includes 10 spaces in the side lot, 3 spaces at the front, and 6 spaces at the rear via the commercial alley. The property was built in 1925 and sits at the Bauer Avenue, Lexington Road, and Frankfort Avenue crossroads in St. Matthews, near restaurants, retailers, offices, schools, and banks.
At 116 Bauer Avenue, the two-story building provides approximately 4,000 square feet, with roughly 2,000 square feet per floor. The first level includes a restroom, break room and kitchenette, mechanical rooms, and front and rear entrances. The upper level contains private offices, open work areas, restrooms, storage, mechanical space, and reception and waiting areas.
Parking includes 10 spaces in the side lot, 3 spaces at the front, and 6 spaces at the rear via the commercial alley. The property was built in 1925 and sits at the Bauer Avenue, Lexington Road, and Frankfort Avenue crossroads in St. Matthews, near restaurants, retailers, offices, schools, and banks.
Key Highlights
- Two freestanding buildings total ~7,587 Sq Ft. on 0.2686 acres
- 118 Bauer Avenue includes a ~3,587 Sq Ft. showroom and office building
- 116 Bauer Avenue provides ~4,000 Sq Ft. across two stories
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
$97,986
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
7.54%
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%
$1,959,720
$2.0M
Cap Rate 7%
$1,399,800
$1.4M
Cap Rate 9%
$1,088,733
$1.1M
Market Conditions
NOI Build-Up for 7,587 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
$159.3K $21.00/SF
− Vacancy
−$28.7K −$3.78/SF
EGI
$130.6K $17.22/SF
− OpEx
−$32.7K −$4.31/SF
NOI
$98.0K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /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%
$1,959,720
Cap Rate 7%
$1,399,800
Cap Rate 9%
$1,088,733
Alternative Uses
Best Use
Office B
$1.40M
$1.22M – $1.63M
NOI $97,986 @ 7.0% cap · market cap 7.54%
Second Best
Retail
$1.25M
$1.09M – $1.46M
NOI $87,471 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$1.97M
$1.72M – $2.29M
NOI $137,659 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40207, KY
30,104
Population
14,507
Households
2.1
Avg Household Size
43
Median Age
68%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
2,573
Density / Sq Mi
$98,583
Median Household Income
$59,242
Median Earnings
$1,248
Median Rent
$401,500
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial buildings combine showroom, office, and adaptable layouts within a C-2 zoning designation.
Where is this storefront property located?
The property is located at 118 Bauer Avenue Louisville, KY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two freestanding buildings total ~7,587 Sq Ft. on 0.2686 acres; 118 Bauer Avenue includes a ~3,587 Sq Ft. showroom and office building; 116 Bauer Avenue provides ~4,000 Sq Ft. across two stories
