Class A Single-Tenant Office
For Sale
$18,127,853
2201 High Wickham Pl, Louisville, KY 40245
Modern office investment with C1 zoning, a recent expansion, and convenient access to I-265 and I-64.
Property Size64,204 SF
Price / SF$282.35
Days on Market937
Property Features for 2201 High Wickham Pl
General Information
Standard status
Active
Size
64,204 SF
Class
Class A
Property subtype
Office
Zoning
C1
Additional Details
Highway Access
Yes
Amenities
landscaped courtyard
Water
Sewer
Building Details
Year Built
2019
Buildings
1
Tenancy
Single
Parking Ratio
4 per 1,000 SF
Listing Agency:
TRIO Commercial Property Group
(502) 645-1911
Listed By:
Justin Baker · License #209520
(502) 645-1911
Source:
Kcrea.resimplifi
Added: Feb 5, 2024
Changed: Aug 29
Last Checked: Aug 30 at 1:24PM
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 TRIO Commercial Property Group
Investment Insights
Based on property information with market context.
This 64,204-square-foot office building was constructed in 2019 and is occupied by a single tenant, Cerity Partners. A recently completed 10,000-square-foot expansion adds to the contemporary workplace configuration and reflects continued investment in the property. The building includes a landscaped courtyard, along with monument and building signage opportunities.
Located at 2201 High Wickham Place in Louisville, the property offers access to I-265 and I-64, with restaurants and retail options nearby. A 4:1 parking ratio supports tenant and visitor needs. The property is zoned C1 and is offered as an office building investment sale.
Located at 2201 High Wickham Place in Louisville, the property offers access to I-265 and I-64, with restaurants and retail options nearby. A 4:1 parking ratio supports tenant and visitor needs. The property is zoned C1 and is offered as an office building investment sale.
Key Highlights
- 64,204‑square‑foot office building constructed in 2019
- Single‑tenant occupancy with Cerity Partners
- Recently completed 10,000‑square‑foot expansion
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
$781,812
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
4.31%
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%
$15,636,240
$15.6M
Cap Rate 7%
$11,168,743
$11.2M
Cap Rate 9%
$8,686,800
$8.7M
Market Conditions
NOI Build-Up for 64,204 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
$1.27M $19.80/SF
− Vacancy
−$228.8K −$3.56/SF
EGI
$1.04M $16.24/SF
− OpEx
−$260.6K −$4.06/SF
NOI
$781.8K $12.18/SF
Area
ZIP 40245
Vacancy
18.00%
Lease Rate
$19.80 /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%
$15,636,240
Cap Rate 7%
$11,168,743
Cap Rate 9%
$8,686,800
Alternative Uses
Best Use
Office B
$11.17M
$9.77M – $13.03M
NOI $781,812 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.72M
$13.75M – $18.34M
NOI $1,100,200 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 40245, KY
37,866
Population
15,226
Households
2.5
Avg Household Size
41
Median Age
59%
College-Educated
97%
High-School Grad
32.6 sq mi
ZIP Area
1,162
Density / Sq Mi
$120,171
Median Household Income
$63,623
Median Earnings
$1,605
Median Rent
$432,900
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 building - Modern office investment with C1 zoning, a recent expansion, and convenient access to I-265 and I-64.
Where is this office building located?
The property is located at 2201 High Wickham Pl Louisville, KY.
What is the asking price?
The asking price for this property is $18,127,853.
What are key features of this property?
This property features: 64,204‑square‑foot office building constructed in 2019; Single‑tenant occupancy with Cerity Partners; Recently completed 10,000‑square‑foot expansion
