Concrete Warehouse with Loading
For Sale
$980,000
3044 W Broadway, Louisville, KY 40211
Industrial warehouse with office space, insulated storage, multiple gates, and direct access to a broad loading dock.
Property Size10,416 SF
Lot Size0.93 Acres
Price / SF$94.07
Days on Market1979
Property Features for 3044 W Broadway
General Information
Standard status
Active
Size
10,416 SF
Lot size
0.93 Acres
Property subtype
Industrial
Zoning
EZ1
Property Condition
Severity
Repairs Needed
Evidence
Some rehab required
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
12 ft
Clear Span
Yes
Warehouse Space
8,322 SF
Office Build-Out
1,316 SF
Drive-In Doors
1
Amenities
Water
Sewer
Building Details
Year Built
1960
Buildings
1
Building Size
10,416 SF
Construction
concrete
Listing Agency:
Metro 1
(502) 439-2826
Listed By:
Neil Blumberg · License #PB20702195
(502) 439-2826
Source:
Kcrea.resimplifi
Added: Apr 1, 2021
Changed: Aug 30
Last Checked: Aug 31 at 12:44PM
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 Metro 1
Investment Insights
Based on property information with market context.
This warehouse property features concrete construction throughout the floor, walls, and roof, along with a concrete parking pad. The interior includes 8,322 square feet of storage area, a 780-square-foot loading dock, and 1,316 square feet of office space. A 22-foot-wide insulated room runs along the west side and may support cold-storage or sound-reduction needs. The building also has 12-foot ceilings, clear-span space, and an approximately 10-foot-high drive-in door. The roof was replaced in 2021, although some rehabilitation is required.
Access is provided through three gates positioned at the north end, along the west side, and at the south end. The property at 3044 W Broadway in Louisville is served by electric, water, gas, and municipal sewer utilities. An additional 0.825 acres of contiguous vacant land is identified for separate purchase. Zoning is EZ-1, which permits uses allowed in the C-2 Commercial and M-3 Industrial districts, subject to stated exceptions.
Access is provided through three gates positioned at the north end, along the west side, and at the south end. The property at 3044 W Broadway in Louisville is served by electric, water, gas, and municipal sewer utilities. An additional 0.825 acres of contiguous vacant land is identified for separate purchase. Zoning is EZ-1, which permits uses allowed in the C-2 Commercial and M-3 Industrial districts, subject to stated exceptions.
Key Highlights
- Concrete floor, walls, roof, and parking pad
- 8,322 square feet of storage warehouse space
- 1,316 square feet of office space and 780‑square‑foot loading dock
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
$84,230
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
8.59%
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%
$1,684,600
$1.7M
Cap Rate 7%
$1,203,286
$1.2M
Cap Rate 9%
$935,889
$935.9K
Market Conditions
NOI Build-Up for 10,418 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
$103.8K $9.96/SF
− Vacancy
−$4.7K −$0.45/SF
EGI
$99.1K $9.51/SF
− OpEx
−$14.9K −$1.43/SF
NOI
$84.2K $8.09/SF
Area
Louisville, KY
Vacancy
4.50%
Lease Rate
$9.96 /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%
$1,684,600
Cap Rate 7%
$1,203,286
Cap Rate 9%
$935,889
Alternative Uses
Best Use
Flex RnD
$1.35M
$1.18M – $1.57M
NOI $94,465 @ 7.0% cap · market cap 9.64%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $84,230 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,024 @ 7.0% cap · market cap 19.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
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.
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with office space, insulated storage, multiple gates, and direct access to a broad loading dock.
Where is this warehouse located?
The property is located at 3044 W Broadway Louisville, KY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Concrete floor, walls, roof, and parking pad; 8,322 square feet of storage warehouse space; 1,316 square feet of office space and 780‑square‑foot loading dock
