First-Floor Office
For Sale
$260,000
13000 Equity Pl, Louisville, KY 40223
Professional office condominium with private rooms, reception space, and parking at the entrance.
Property Size1,507 SF
Price / SF$172.53
Days on Market70
Property Features for 13000 Equity Pl
General Information
Standard status
Active
Size
1,507 SF
Total Parking Spaces
51
Property subtype
Office
Zoning
OR3
Additional Details
Floor
1
Office Units
1
Amenities
conference room
Water
Sewer
Natural Gas
51 Parking Spaces
Building Details
Year Built
2005
Owner Occupied
Yes
Listing Agency:
Duncan Commercial RE, LLC
(502) 550-7773
Listed By:
Patricia Evans · License #KY183777
(502) 550-7773
Source:
Kcrea.resimplifi
Added: Jun 24
Changed: Aug 31
Last Checked: Aug 31 at 1:38PM
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 Duncan Commercial RE, LLC
Investment Insights
Based on property information with market context.
Located within English Station Professional Park, this 1,507-square-foot office condominium occupies the first floor and provides a practical layout for professional use. The interior includes a reception area, coffee bar, six private offices, three storage closets, an undercounter refrigerator, microwave, and built-in mail cabinet. New windows are scheduled for installation on July 30th, with the cost covered by the seller, and the building roof was replaced in 2024.
Parking is available directly at the unit entrance. The condo maintenance program covers landscaping, utilities serving the main building and common areas, access to a second-floor conference room, general building repairs, and lobby and stair cleaning. Annual maintenance also includes reserves; utilities serving the unit are paid separately. The property is zoned OR-3 and was built in 2005.
Parking is available directly at the unit entrance. The condo maintenance program covers landscaping, utilities serving the main building and common areas, access to a second-floor conference room, general building repairs, and lobby and stair cleaning. Annual maintenance also includes reserves; utilities serving the unit are paid separately. The property is zoned OR-3 and was built in 2005.
Key Highlights
- 1,507 SF first‑floor office condominium in English Station Professional Park
- Reception area, coffee bar, six private offices, and three storage closets
- Undercounter refrigerator, microwave, and built‑in mail cabinet included
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
$19,463
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
7.49%
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%
$389,260
$389.3K
Cap Rate 7%
$278,043
$278.0K
Cap Rate 9%
$216,256
$216.3K
Market Conditions
NOI Build-Up for 1,507 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
$31.6K $21.00/SF
− Vacancy
−$5.7K −$3.78/SF
EGI
$26.0K $17.22/SF
− OpEx
−$6.5K −$4.31/SF
NOI
$19.5K $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%
$389,260
Cap Rate 7%
$278,043
Cap Rate 9%
$216,256
Alternative Uses
Best Use
Office B
$278.0K
$243.3K – $324.4K
NOI $19,463 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.6K
$341.8K – $455.7K
NOI $27,343 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 40223, KY
23,227
Population
10,387
Households
2.2
Avg Household Size
42
Median Age
58%
College-Educated
97%
High-School Grad
12.1 sq mi
ZIP Area
1,920
Density / Sq Mi
$97,033
Median Household Income
$60,744
Median Earnings
$1,431
Median Rent
$343,600
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?
Office units - Professional office condominium with private rooms, reception space, and parking at the entrance.
Where is this office units located?
The property is located at 13000 Equity Pl Louisville, KY.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,507 SF first‑floor office condominium in English Station Professional Park; Reception area, coffee bar, six private offices, and three storage closets; Undercounter refrigerator, microwave, and built‑in mail cabinet included
