Two-Property Hospitality
For Sale
$975,000
Pending
311 W Jefferson, La Grange, KY 40031
Offering includes two hospitality properties between West Main Street and West Jefferson Street, near downtown and LaGrange Springs Park.
Property Size8,906 SF
Days on Market912
Property Features for 311 W Jefferson
General Information
Standard status
Pending
Size
8,906 SF
Property subtype
Retail
Amenities
Water
Sewer
Listing Agency:
Horizon Commercial Realty, LLC
(502) 500-2504
Listed By:
Michael DeHart · License #206388
(502) 500-2504
Source:
Kcrea.resimplifi
Added: Mar 1, 2024
Changed: Aug 29
Last Checked: Aug 26 at 12:18PM
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 Horizon Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This hospitality portfolio comprises two properties identified at 311 W Jefferson St and 312 W Main Street. The offering is presented as a combined two-property asset with a reported property size of 8,906.
The properties are positioned between West Main Street and West Jefferson Street, providing proximity to downtown LaGrange and LaGrange Springs Park. Both destinations are described as within walking distance, adding a nearby downtown and park setting to the portfolio’s location profile.
The properties are positioned between West Main Street and West Jefferson Street, providing proximity to downtown LaGrange and LaGrange Springs Park. Both destinations are described as within walking distance, adding a nearby downtown and park setting to the portfolio’s location profile.
Key Highlights
- Two‑property hospitality portfolio
- Reported property size of 8,906
- Includes 311 W Jefferson St
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
$41,880
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
4.30%
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%
$837,600
$837.6K
Cap Rate 7%
$598,286
$598.3K
Cap Rate 9%
$465,333
$465.3K
Market Conditions
NOI Build-Up for 8,906 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
$117.6K $13.20/SF
− Vacancy
−$29.4K −$3.30/SF
EGI
$88.2K $9.90/SF
− OpEx
−$46.3K −$5.20/SF
NOI
$41.9K $4.70/SF
Area
Oldham County, KY
Vacancy
25.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
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%
$837,600
Cap Rate 7%
$598,286
Cap Rate 9%
$465,333
Alternative Uses
Best Use
Hotel Hospitality
$598.3K
$523.5K – $698.0K
NOI $41,880 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,427 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 40031, KY
25,322
Population
8,507
Households
3
Avg Household Size
40
Median Age
34%
College-Educated
89%
High-School Grad
66.9 sq mi
ZIP Area
379
Density / Sq Mi
$96,682
Median Household Income
$47,046
Median Earnings
$1,120
Median Rent
$316,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hospitality property - Offering includes two hospitality properties between West Main Street and West Jefferson Street, near downtown and LaGrange Springs Park.
Where is this hospitality property located?
The property is located at 311 W Jefferson La Grange, KY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑property hospitality portfolio; Reported property size of 8,906; Includes 311 W Jefferson St
