Corner Restaurant
For Sale
$369,000
3927 Dixie Hwy, Louisville, KY 40216
C-2 commercial property with restaurant infrastructure, customer parking, and prominent signage at a busy intersection.
Property Size1,780 SF
Price / SF$207.30
Days on Market550
Property Features for 3927 Dixie Hwy
General Information
Standard status
Active
Size
1,780 SF
Property subtype
Retail
Zoning
C-2
Site & Location
Pylon Signage
Yes
Traffic Count
17,000 vehicles/day
Additional Details
Commercial Hood
Yes
Amenities
Water
Sewer
Natural Gas
Listing Agency:
EXP Realty LLC
(502) 640-2900
Listed By:
Florence Browne · License #KENTUCKY207158
(502) 640-2900
Source:
Kcrea.resimplifi
Added: Feb 27, 2025
Changed: Aug 28
Last Checked: Aug 30 at 1:21PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 1,780-square-foot restaurant property includes kitchen facilities, a dining area, two restrooms, a walk-in cooler, and a restaurant hood system. The space is described as well maintained and configured for restaurant operations, with some equipment potentially remaining. An existing pole box sign provides an established signage component, while on-site parking supports customer access.
Located at 3927 Dixie Hwy in Louisville, the property occupies a corner position with approximately 17,000 plus cars daily. Its C-2 zoning is documented in the listing, and buyers and their agents are responsible for confirming that zoning is appropriate for the intended use.
Located at 3927 Dixie Hwy in Louisville, the property occupies a corner position with approximately 17,000 plus cars daily. Its C-2 zoning is documented in the listing, and buyers and their agents are responsible for confirming that zoning is appropriate for the intended use.
Key Highlights
- 1,780‑square‑foot restaurant property
- Corner location at 3927 Dixie Hwy, Louisville, KY 40216
- Approximately 17,000 plus cars daily
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
$25,600
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
6.94%
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%
$512,000
$512.0K
Cap Rate 7%
$365,714
$365.7K
Cap Rate 9%
$284,444
$284.4K
Market Conditions
NOI Build-Up for 1,780 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
$36.3K $20.40/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$34.1K $19.18/SF
− OpEx
−$8.5K −$4.79/SF
NOI
$25.6K $14.38/SF
Area
ZIP 40216
Vacancy
6.00%
Lease Rate
$20.40 /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%
$512,000
Cap Rate 7%
$365,714
Cap Rate 9%
$284,444
Alternative Uses
Best Use
Specialty Retail
$365.7K
$320.0K – $426.7K
NOI $25,600 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.5K
$399.4K – $532.6K
NOI $31,955 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17,000 VPD
Traffic count
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
168k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 29%
Apparel 6%
Home Improvements & Furnishings 4%
Speedway
Shops & Services
15,711 visits/mo
0.1 miles
Circle K
Shops & Services
15,186 visits/mo
0.4 miles
Dollar Tree
Shops & Services
14,914 visits/mo
0.1 miles
White Castle
Dining
12,458 visits/mo
0.4 miles
Burger King
Dining
11,984 visits/mo
0.1 miles
Demographics for 40216, KY
43,434
Population
19,257
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
15.7 sq mi
ZIP Area
2,766
Density / Sq Mi
$50,211
Median Household Income
$35,503
Median Earnings
$883
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - C-2 commercial property with restaurant infrastructure, customer parking, and prominent signage at a busy intersection.
Where is this conventional restaurant located?
The property is located at 3927 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 1,780‑square‑foot restaurant property; Corner location at 3927 Dixie Hwy, Louisville, KY 40216; Approximately 17,000 plus cars daily
