Mixed-Use Property with
For Sale
$1,650,000
1328 Bardstown Road, Louisville, KY 40204
Commercial Sale, Louisville, KY
Property Size5,000 SF
Lot Size0.19 Acres
Price / SF$330
Days on Market124
Property Features for 1328 Bardstown Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2
Subdivision
Commercial
Directions
Bardstown Road outbound, property is on the right just before Station 7 Firehouse.
Standard status
Active
APN
075-B0064-0000
Size
5,000 SF
Lot size
0.19 Acres
Building Details
Year built
1900
Listing Agency:
Block + Lot Homes
(859) 309-0099
Listed By:
Gresham Wilson
(859) 421-3376
Added: Apr 28
Changed: Aug 20
Last Checked: Aug 29 at 2:06PM
MLS# 26009307
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building contains 5,000 square feet and includes commercial space alongside a +/- 1,500 SF apartment. The commercial component is presented for retail, office, or restaurant use, while the residential portion adds a separate occupancy or rental component within the same property. Built in 1900, the property occupies a 0.19-acre parcel.
The building fronts Bardstown Road in Louisville’s Highlands Entertainment District, on a block described as having strong pedestrian activity and visibility. It is located next to the historic Highlands Station 7 firehouse, providing a recognizable neighboring landmark. The address is 1328 Bardstown Road, Louisville, KY 40204.
The building fronts Bardstown Road in Louisville’s Highlands Entertainment District, on a block described as having strong pedestrian activity and visibility. It is located next to the historic Highlands Station 7 firehouse, providing a recognizable neighboring landmark. The address is 1328 Bardstown Road, Louisville, KY 40204.
Key Highlights
- 5,000‑square‑foot mixed‑use building on a 0.19‑acre parcel
- Includes a +/- 1,500 SF apartment within the building
- Commercial space presented for retail, office, or restaurant use
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
$59,400
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
3.60%
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%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$13.0K −$2.59/SF
EGI
$95.0K $19.01/SF
− OpEx
−$35.6K −$7.13/SF
NOI
$59.4K $11.88/SF
Area
Louisville, KY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Mixed Use
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 3.60%
Second Best
Retail
$823.5K
$720.6K – $960.8K
NOI $57,645 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,720 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,080
Businesses Nearby
150k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 23%
Home Improvements & Furnishings 2%
Raising Cane's Chicken Fingers
Dining
41,576 visits/mo
0.1 miles
Speedway
Shops & Services
22,524 visits/mo
0.4 miles
McDonald's
Dining
17,743 visits/mo
0.2 miles
Heine Brothers Coffee
Dining
13,405 visits/mo
0.1 miles
Wendy's
Dining
12,413 visits/mo
0.4 miles
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 Retail in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines commercial space with an apartment, supporting retail, office, or restaurant use potential.
Where is this mixed-use property located?
The property is located at 1328 Bardstown Road Louisville, KY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5,000‑square‑foot mixed‑use building on a 0.19‑acre parcel; Includes a +/- 1,500 SF apartment within the building; Commercial space presented for retail, office, or restaurant use
