Corner-Front Office
For Sale
$1,594,999
1833 Windsor Pl, Louisville, KY 40204
Well-kept office building with more than 5,100 SF, 10+ offices, reception, conference space, kitchen, and C-2 zoning.
Property Size5,100 SF
Price / SF$312.74
Days on Market15
Property Features for 1833 Windsor Pl
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Office
Zoning
C-2
Additional Details
Road Access
Yes
Building Details
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Louisville
(502) 466-6425
Listed By:
Jenny Johnston · License #246944
(502) 466-6425
Source:
Colliers
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 12 at 3:15AM
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 Louisville
Investment Insights
Based on property information with market context.
Located at 1833 Windsor Pl in Louisville, this corner-positioned office building offers highly visible frontage along Bardstown Road while bordering a quiet, tree-lined Highlands neighborhood setting. The property contains more than 5,100 square feet of office space and has been owner-occupied, reflecting a maintained interior and exterior.
The layout includes 10+ offices, a reception area, conference areas, a full kitchen, and two restrooms, with additional space for storage. Attractive landscaping and strong curb appeal support day-to-day client presentation, and highly visible signage along Bardstown Road is intended to help drive awareness.
Flexibly suited for professional, medical, creative, or service-oriented users, the building is supported by flexible C-2 zoning. The configuration is also described as potentially workable for multiple tenants, including subdivision for shared occupancy, with convenient parking and ingress from a quiet residential side street.
The layout includes 10+ offices, a reception area, conference areas, a full kitchen, and two restrooms, with additional space for storage. Attractive landscaping and strong curb appeal support day-to-day client presentation, and highly visible signage along Bardstown Road is intended to help drive awareness.
Flexibly suited for professional, medical, creative, or service-oriented users, the building is supported by flexible C-2 zoning. The configuration is also described as potentially workable for multiple tenants, including subdivision for shared occupancy, with convenient parking and ingress from a quiet residential side street.
Key Highlights
- More than 5,100 SF office building with owner‑occupied history
- Corner presence at Bardstown Road and Windsor Place with highly visible signage
- Layout includes 10+ offices plus reception and conference areas
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
$66,096
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
4.14%
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%
$1,321,920
$1.3M
Cap Rate 7%
$944,229
$944.2K
Cap Rate 9%
$734,400
$734.4K
Market Conditions
NOI Build-Up for 5,100 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
$122.4K $24.00/SF
− Vacancy
−$12.2K −$2.40/SF
EGI
$110.2K $21.60/SF
− OpEx
−$44.1K −$8.64/SF
NOI
$66.1K $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%
$1,321,920
Cap Rate 7%
$944,229
Cap Rate 9%
$734,400
Alternative Uses
Best Use
Healthcare Medical
$944.2K
$826.2K – $1.10M
NOI $66,096 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$941.0K
$823.3K – $1.10M
NOI $65,867 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,534 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
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 Office in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-kept office building with more than 5,100 SF, 10+ offices, reception, conference space, kitchen, and C-2 zoning.
Where is this office building located?
The property is located at 1833 Windsor Pl Louisville, KY.
What is the asking price?
The asking price for this property is $1,594,999.
What are key features of this property?
This property features: More than 5,100 SF office building with owner‑occupied history; Corner presence at Bardstown Road and Windsor Place with highly visible signage; Layout includes 10+ offices plus reception and conference areas
