Flexible Building for Creative
New
For Sale
$1,295,000
1320 E Washington St, Louisville, KY 40206
Adaptable commercial space near Louisville’s Soccer Stadium District, with potential for industrial, production, office, or event functions.
Property Size10,158 SF
Days on Market2
Property Features for 1320 E Washington St
General Information
Standard status
Active
Size
10,158 SF
Property subtype
Industrial - Flex - Industrial
Building Details
Building Size
10,158 SF
Buildings
1
Listing Agency:
Hoagland Commercial Realtors
Listed By:
Woodford Hoagland · License #74285
Source:
Commercialcafe
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:56AM
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 Hoagland Commercial Realtors
Investment Insights
Based on property information with market context.
This flex property offers more than 10,000 SF of commercial building area in Butchertown. The space is positioned for a range of operating concepts, including light industrial work, retail production, creative office use, and events. The property information also identifies a second-floor residential unit as a potential component.
Located at 1320 E Washington St, the building sits two blocks from the Soccer Stadium District and within Louisville’s Butchertown area. Its combination of substantial interior area and flexible use potential supports a variety of commercial configurations.
Located at 1320 E Washington St, the building sits two blocks from the Soccer Stadium District and within Louisville’s Butchertown area. Its combination of substantial interior area and flexible use potential supports a variety of commercial configurations.
Key Highlights
- >10,000 SF flex building
- Two blocks from the Soccer Stadium District
- Located in Louisville’s Butchertown area
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
$117,112
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
9.04%
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%
$2,342,240
$2.3M
Cap Rate 7%
$1,673,029
$1.7M
Cap Rate 9%
$1,301,244
$1.3M
Market Conditions
NOI Build-Up for 10,158 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
$182.8K $18.00/SF
− Vacancy
−$15.5K −$1.53/SF
EGI
$167.3K $16.47/SF
− OpEx
−$50.2K −$4.94/SF
NOI
$117.1K $11.53/SF
Area
Louisville, KY
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,342,240
Cap Rate 7%
$1,673,029
Cap Rate 9%
$1,301,244
Alternative Uses
Best Use
Office B
$1.87M
$1.64M – $2.19M
NOI $131,191 @ 7.0% cap · market cap 10.13%
Second Best
Retail
$1.67M
$1.46M – $1.95M
NOI $117,112 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,307 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
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?
Flex space - Adaptable commercial space near Louisville’s Soccer Stadium District, with potential for industrial, production, office, or event functions.
Where is this flex space located?
The property is located at 1320 E Washington St Louisville, KY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: >10,000 SF flex building; Two blocks from the Soccer Stadium District; Located in Louisville’s Butchertown area
