Turnkey Restaurant/Grocery, 2014
For Sale
$350,000
1444 Dixie Hwy, Louisville, KY 40210
Turnkey Restaurant/Grocery, 2014 Build
Property Size1,960 SF
Lot Size0.11 Acres
Price / SF$178.57
Days on Market143
Property Features for 1444 Dixie Hwy
General Information
Standard status
Active
Property type
Grocery and convenience stores, Storefront properties, Conventional restaurants, Retail properties & Spaces, Restaurants
Size
1,960 SF
Total Parking Spaces
4
Elevators
No
Lot size
0.11 Acres
Building Details
Year Built
2014
Buildings
1
Stories
1
Units
1
Listing Agency:
(502) 930-1155
Listed By:
Lori
(502) 930-1155
Added: Mar 24
Changed: Apr 8
Investment Insights
Based on property information with market context.
This property, constructed in 2014, is located on Dixie Highway in Louisville, Kentucky. The building offers potential for various uses beyond its original configuration as a grocery store and restaurant. The sale includes commercial kitchen equipment, featuring three freezers, a walk-in cooler, seven additional coolers, a grill, two deep fryers, and an oven. Inventory is not included in the sale price and will be sold separately. The property is situated on a 0.1105-acre lot. The building's location on Dixie Highway provides high traffic volume and exposure. The property size is 1960 square feet.
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
$27,544
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
7.87%
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%
$550,880
$550.9K
Cap Rate 7%
$393,486
$393.5K
Cap Rate 9%
$306,044
$306.0K
Market Conditions
NOI Build-Up for 1,960 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
$39.3K $20.04/SF
− Vacancy
−$2.6K −$1.30/SF
EGI
$36.7K $18.74/SF
− OpEx
−$9.2K −$4.68/SF
NOI
$27.5K $14.05/SF
Area
Louisville, KY
Vacancy
6.50%
Lease Rate
$20.04 /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%
$550,880
Cap Rate 7%
$393,486
Cap Rate 9%
$306,044
Alternative Uses
Best Use
Specialty Retail
$393.5K
$344.3K – $459.1K
NOI $27,544 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$322.8K
$282.5K – $376.6K
NOI $22,597 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$508.0K
$444.5K – $592.7K
NOI $35,562 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Groceries 46%
Thorntons
Shops & Services
10,712 visits/mo
0.1 miles
Save-A-Lot
Groceries
9,288 visits/mo
0.4 miles
Demographics for 40210, KY
14,418
Population
7,137
Households
2
Avg Household Size
36
Median Age
10%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
4,506
Density / Sq Mi
$35,841
Median Household Income
$23,881
Median Earnings
$822
Median Rent
$93,400
Median Home Value
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey Restaurant/Grocery, 2014 Build
Where is this grocery and convenience store located?
The property is located at 1444 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $350,000.
