C-2 Warehouse with
For Sale
$600,000
6203 Lower Hunters Trce, Louisville, KY 40216
C-2 property combines warehouse space with a separately sized garage and dedicated electrical service.
Property Size4,500 SF
Price / SF$133.33
Days on Market522
Property Features for 6203 Lower Hunters Trce
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Retail
Zoning
C2
Property Condition
Severity
Teardown
Evidence
tear-down
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
4,500 SF
Drive-In Doors
2
Power
200 amps
Voltage
240 V
Three-Phase Power
No
Additional Details
Asking Price
$800,000
Amenities
new LED lighting
heating and cooling
120/240 Volt, Single Phase, 200 amp service
two overhead doors
14' ceilings at eaves and 16' in the center
Sewer
Building Details
Year Built
2004
Buildings
2
Listing Agency:
Grisanti Group Commercial Real Estate
(502) 644-0544
Listed By:
Nick Grisanti · License #274313
(502) 644-0544
Source:
Kcrea.resimplifi
Added: Mar 27, 2025
Changed: Aug 30
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 Grisanti Group Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2004 warehouse property includes a 4,500 SF building with two overhead doors measuring 12'x14' and 10'x10'. Ceiling height reaches 14 feet at the eaves and 16 feet at the center. A separate 1,200 SF garage adds new LED lighting plus heating and cooling for year-round use. Electrical service is 120/240 Volt, Single Phase, 200 amp.
The property occupies the corner of Lower Hunters Trace and Murray Lane in Louisville, with access to Greenbelt Hwy 0.4 miles away and Dixie Hwy 2.1 miles away. The site is zoned C2. Current building and parking occupants lease month-to-month and are expected to vacate for an owner-operator buyer. A single-family home on the property is identified as a tear-down, and a leased cell tower is also located on the site.
The property occupies the corner of Lower Hunters Trace and Murray Lane in Louisville, with access to Greenbelt Hwy 0.4 miles away and Dixie Hwy 2.1 miles away. The site is zoned C2. Current building and parking occupants lease month-to-month and are expected to vacate for an owner-operator buyer. A single-family home on the property is identified as a tear-down, and a leased cell tower is also located on the site.
Key Highlights
- 4,500 SF warehouse with two overhead doors: 12'x14' and 10'x10'
- 1,200 SF garage with new LED lighting, heating, and cooling
- Ceiling heights of 14' at the eaves and 16' at the center
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
$36,479
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
6.08%
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%
$729,580
$729.6K
Cap Rate 7%
$521,129
$521.1K
Cap Rate 9%
$405,322
$405.3K
Market Conditions
NOI Build-Up for 4,500 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
$45.9K $10.20/SF
− Vacancy
−$3.0K −$0.66/SF
EGI
$42.9K $9.54/SF
− OpEx
−$6.4K −$1.43/SF
NOI
$36.5K $8.11/SF
Area
ZIP 40216
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$729,580
Cap Rate 7%
$521,129
Cap Rate 9%
$405,322
Alternative Uses
Best Use
Retail
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 9.32%
Second Best
Warehouse
$521.1K
$456.0K – $608.0K
NOI $36,479 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,784 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 5550 Greenbelt Hwy, Louisville, KY 40216
Frequently Asked Questions
What type of property is this?
Warehouse - C-2 property combines warehouse space with a separately sized garage and dedicated electrical service.
Where is this warehouse located?
The property is located at 6203 Lower Hunters Trce Louisville, KY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,500 SF warehouse with two overhead doors: 12'x14' and 10'x10'; 1,200 SF garage with new LED lighting, heating, and cooling; Ceiling heights of 14' at the eaves and 16' at the center
