Modern Office Condo in
For Sale
$875,000
13107 Eastpoint Park Boulevard, Louisville, KY 40223
Two-story office condo in Eastpoint Business Park, Louisville.
Property Size5,070 SF
Price / SF$172.58
Days on Market141
Property Features for 13107 Eastpoint Park Boulevard
General Information
Standard status
Active
Size
5,070 SF
Property subtype
Office
Listing Agency:
(502) 412-7610
Listed By:
Jeff Dreher
(502) 412-7610
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 12 at 11:10AM
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 office condo offers 5,070 square feet of space, with 3,135 square feet on the first floor and 1,935 square feet on the ground level. Constructed in 2017, the interior was completed in 2020. The property is situated in Eastpoint Business Park, providing convenient access to I-265, located less than half a mile from the on-ramp on LaGrange Road. Existing furniture may be available. Ample parking is provided.
Key Highlights
- Convenient Eastpoint Business Park location with easy access to I‑265
- Two‑story office condo with 5,070+\/- SF of total space
- Interior construction completed in 2020
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
$65,479
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
7.48%
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%
$1,309,580
$1.3M
Cap Rate 7%
$935,414
$935.4K
Cap Rate 9%
$727,544
$727.5K
Market Conditions
NOI Build-Up for 5,070 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
$106.5K $21.00/SF
− Vacancy
−$19.2K −$3.78/SF
EGI
$87.3K $17.22/SF
− OpEx
−$21.8K −$4.31/SF
NOI
$65.5K $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%
$1,309,580
Cap Rate 7%
$935,414
Cap Rate 9%
$727,544
Alternative Uses
Best Use
Office B
$935.4K
$818.5K – $1.09M
NOI $65,479 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,990 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
510
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two-story office condo in Eastpoint Business Park, Louisville.
Where is this office units located?
The property is located at 13107 Eastpoint Park Boulevard Louisville, KY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Convenient Eastpoint Business Park location with easy access to I‑265; Two‑story office condo with **5,070+\/- SF of total space**; Interior construction completed in 2020
