Two-Story Dentist Office
For Sale
$499,000
4213 N Church Way, Louisville, KY 40207
Two-story dentist office with an unfinished basement and ample parking, offered for sale in OR-3 zoning.
Property Size2,984 SF
Price / SF$167.23
Days on Market51
Property Features for 4213 N Church Way
General Information
Standard status
Active
Size
2,984 SF
Property subtype
Office
Zoning
OR-3
Amenities
monument signage
Building Details
Stories
2
Listing Agency:
(502) 412-7610
Listed By:
Jeff Dreher
(502) 412-7610
Source:
Cbre
Added: Jul 4
Changed: Aug 10
Last Checked: Aug 23 at 9:31AM
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 Jeff Dreher
Investment Insights
Based on property information with market context.
This two-story dentist office building is offered for sale and includes approximately 1,575 +/- sf of basement space. The property also features monument signage and ample parking, supporting straightforward patient and visitor access.
Zoned OR-3, the building is positioned to serve office use needs. Monument signage helps identify the property from the street, while the onsite parking supports convenient day-to-day operations.
The available basement area provides additional interior space beneath the office structure, complementing the main two-story layout for flexible use within the constraints of the existing improvements.
Zoned OR-3, the building is positioned to serve office use needs. Monument signage helps identify the property from the street, while the onsite parking supports convenient day-to-day operations.
The available basement area provides additional interior space beneath the office structure, complementing the main two-story layout for flexible use within the constraints of the existing improvements.
Key Highlights
- Two‑story dentist office building for sale
- Basement includes 1,575 +/- SF of space
- Ample parking available
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
$38,673
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
7.75%
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%
$773,460
$773.5K
Cap Rate 7%
$552,471
$552.5K
Cap Rate 9%
$429,700
$429.7K
Market Conditions
NOI Build-Up for 2,984 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
$71.6K $24.00/SF
− Vacancy
−$7.2K −$2.40/SF
EGI
$64.5K $21.60/SF
− OpEx
−$25.8K −$8.64/SF
NOI
$38.7K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$773,460
Cap Rate 7%
$552,471
Cap Rate 9%
$429,700
Alternative Uses
Best Use
Healthcare Medical
$552.5K
$483.4K – $644.6K
NOI $38,673 @ 7.0% cap · market cap 7.75%
Second Best
Office B
$550.5K
$481.7K – $642.3K
NOI $38,538 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$773.5K
$676.8K – $902.4K
NOI $54,142 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,575
Businesses Nearby
Balanced
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
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?
Medical Office Space - Two-story dentist office with an unfinished basement and ample parking, offered for sale in OR-3 zoning.
Where is this medical office space located?
The property is located at 4213 N Church Way Louisville, KY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑story dentist office building for sale; Basement includes 1,575 +/- SF of space; Ample parking available
