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Building Details

Year Built 1890

Buildings 1

Construction Federal-Style

Tenancy Single

Listing Agency: Hippo House LLC

Listed By: Alexandria Bolton Show Phone

Source: Kcrea.resimplifi

Added: Apr 10, 2025 Changed: Oct 9 Last Checked: Oct 14 at 7:39PM

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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 Hippo House LLC

Investment Insights

Based on property information with market context.

This 4,929-square-foot mixed-use property dates to 1890 and presents a Federal-style design. The ground floor includes a vacant 2,688-square-foot commercial storefront suited to office or retail use. Above, a furnished four-bedroom, two-bath mid-term rental is producing ongoing monthly income.

The property is located in Louisville’s Old Louisville area within the TNZD district. Off-street parking accommodates up to 7 vehicles. An unfinished 2,200-square-foot basement provides storage space, while additional room is identified for a future carriage house or garage.

Key Highlights

• 4,929‑square‑foot mixed‑use property built in 1890
• Vacant 2,688‑square‑foot commercial storefront
• Furnished upstairs 4‑bed, 2‑bath mid‑term rental

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,544

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$670,880 $670.9K

Cap Rate 7%

$479,200 $479.2K

Cap Rate 9%

$372,711 $372.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,929 SF

Gross rent

$64.5K $13.08/SF

− Vacancy

−$3.5K −$0.71/SF

EGI

$61.0K $12.37/SF

− OpEx

−$27.4K −$5.57/SF

NOI

$33.5K $6.81/SF

Area

Louisville, KY

Vacancy

5.40%

Lease Rate

$13.08 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$670,880

Cap Rate 7%

$479,200

Cap Rate 9%

$372,711

Alternative Uses

Best Use

Mixed Use

$836.5K

$732.0K – $976.0K (±1% cap)

NOI $58,557 @ 7.0% cap · market cap 9.78%

Second Best

Retail

$811.8K

$710.3K – $947.1K (±1% cap)

NOI $56,826 @ 7.0% cap · market cap 9.49%

Theoretical Best

Office A

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,432 @ 7.0% cap · market cap 14.93%

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

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Travel Agency Home Appliance Store Acupuncture Fish Market

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

1

Residential units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,383

Businesses Nearby

8k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 88% Dining 12%

Dollar General Shops & Services

4,340 visits/mo 0.1 miles

Ollie's Bargain Outlet Shops & Services

2,995 visits/mo 0.3 miles

Taste of China Dining

1,036 visits/mo 0.1 miles

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 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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic building combines a vacant commercial space with a furnished four-bedroom, two-bath upstairs rental.

Where is this mixed-use property located?

The property is located at 1217-1219 S 4th St Louisville, KY.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 4,929‑square‑foot mixed‑use property built in 1890; Vacant 2,688‑square‑foot commercial storefront; Furnished upstairs 4‑bed, 2‑bath mid‑term rental