New Construction Mixed-Use
For Sale
$1,550,000
2512 Portland Ave, Louisville, KY 40212
R6-zoned building combines residential and commercial occupancy in a newly constructed asset.
Property Size9,870 SF
Price / SF$157.04
Days on Market751
Property Features for 2512 Portland Ave
General Information
Standard status
Active
Size
9,870 SF
Property subtype
Multifamily
Zoning
R6
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
EOS Real Estate
Listed By:
Hallie Muldoon
(502) 641-4413
Source:
Kcrea.resimplifi
Added: Aug 14, 2024
Changed: Aug 30
Last Checked: Sep 2 at 1:59PM
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 EOS Real Estate
Investment Insights
Based on property information with market context.
This 9,870 SF mixed-use property at 2512 Portland Ave combines residential and commercial units within a newly constructed building. The units, building systems, and interior finishes are all brand new, providing a recently completed physical plant with limited near-term replacement needs identified in the property information.
The asset is located in Louisville’s active urban corridor and is described as having stabilized occupancy. Its residential and commercial components create separate income streams within one property, while the R6 zoning designation provides an additional point of reference for evaluating the asset’s current configuration.
The asset is located in Louisville’s active urban corridor and is described as having stabilized occupancy. Its residential and commercial components create separate income streams within one property, while the R6 zoning designation provides an additional point of reference for evaluating the asset’s current configuration.
Key Highlights
- 9,870 SF mixed‑use property at 2512 Portland Ave
- Residential and commercial units in one building
- New construction with brand‑new units, systems, and finishes
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
$117,256
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
7.56%
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%
$2,345,120
$2.3M
Cap Rate 7%
$1,675,086
$1.7M
Cap Rate 9%
$1,302,844
$1.3M
Market Conditions
NOI Build-Up for 9,870 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
$213.2K $21.60/SF
− Vacancy
−$25.6K −$2.59/SF
EGI
$187.6K $19.01/SF
− OpEx
−$70.4K −$7.13/SF
NOI
$117.3K $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%
$2,345,120
Cap Rate 7%
$1,675,086
Cap Rate 9%
$1,302,844
Alternative Uses
Best Use
Mixed Use
$1.68M
$1.47M – $1.95M
NOI $117,256 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$959.6K
$839.6K – $1.12M
NOI $67,171 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $179,081 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 40212, KY
16,360
Population
8,061
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
4,305
Density / Sq Mi
$35,389
Median Household Income
$28,506
Median Earnings
$917
Median Rent
$78,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - R6-zoned building combines residential and commercial occupancy in a newly constructed asset.
Where is this mixed-use property located?
The property is located at 2512 Portland Ave Louisville, KY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 9,870 SF mixed‑use property at 2512 Portland Ave; Residential and commercial units in one building; New construction with brand‑new units, systems, and finishes
