Four-Unit Flex
For Sale
$4,400,000
Pending
13720 Aiken Rd, Louisville, KY 40245
M2-zoned flex property with leased, vacant, owner-occupied, and Coast Guard-occupied space in one industrial configuration.
Property Size24,162 SF
Days on Market336
Property Features for 13720 Aiken Rd
General Information
Standard status
Pending
Size
24,162 SF
Property subtype
Investment
Zoning
M2
Listing Agency:
Hoagland Commercial
Listed By:
Zachary Swanson · License #76272
(502) 664-5277
Source:
Kcrea.resimplifi
Added: Nov 17, 2025
Changed: Oct 3
Last Checked: Oct 19 at 3:29AM
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 Hoagland Commercial
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Investment Insights
Based on property information with market context.
This M2-zoned flex property contains approximately 24,162 square feet arranged across four units. The offering includes 1110 Avoca Dr., where approximately 10,000 square feet is leased to APHIS following completion of a five-year firm term and is now occupied on a month-to-month basis. At 13720 Aiken Rd., Suite A contains approximately 3,502 square feet and is vacant as of 10/15/2025. Suite B provides approximately 3,300 square feet of owner-occupied space, with the owner considering a short lease-back period. Suite C contributes approximately 7,360 square feet and is occupied by the Coast Guard under a five-year non-firm period that began 10/1/2025.
The property is located at 13720 Aiken Rd, Louisville, KY 40245, with additional space identified at 1110 Avoca Dr. The varied occupancy profile and separate suite configuration provide a combination of leased, available, and owner-used areas within the same flex property.
The property is located at 13720 Aiken Rd, Louisville, KY 40245, with additional space identified at 1110 Avoca Dr. The varied occupancy profile and separate suite configuration provide a combination of leased, available, and owner-used areas within the same flex property.
Key Highlights
- Approximately 24,162 SF across 4 flex units
- M2 zoning supports the property's industrial/flex classification
- Approximately 10,000 SF at 1110 Avoca Dr. leased to APHIS on a month‑to‑month basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,871
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,897,420
$3.9M
Cap Rate 7%
$2,783,871
$2.8M
Cap Rate 9%
$2,165,233
$2.2M
Market Conditions
NOI Build-Up for 24,162 SF
Gross rent
$318.9K $13.20/SF
− Vacancy
−$19.1K −$0.79/SF
EGI
$299.8K $12.41/SF
− OpEx
−$104.9K −$4.34/SF
NOI
$194.9K $8.07/SF
Area
ZIP 40245
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,897,420
Cap Rate 7%
$2,783,871
Cap Rate 9%
$2,165,233
Alternative Uses
Best Use
Flex RnD
$2.78M
$2.44M – $3.25M
NOI $194,871 @ 7.0% cap · market cap 4.43%
Second Best
Industrial
$2.36M
$2.07M – $2.76M
NOI $165,443 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$5.91M
$5.18M – $6.90M
NOI $414,040 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Balanced
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Flex space - M2-zoned flex property with leased, vacant, owner-occupied, and Coast Guard-occupied space in one industrial configuration.
Where is this flex space located?
The property is located at 13720 Aiken Rd Louisville, KY.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Approximately 24,162 SF across 4 flex units; M2 zoning supports the property's industrial/flex classification; Approximately 10,000 SF at 1110 Avoca Dr. leased to APHIS on a month‑to‑month basis
