Hotel Property with Flexible
1620 Arthur St, Louisville, KY 40208
For Sale
$4,000,000
Pending
EZ-1 zoning supports hospitality, office, residential, mixed-use, and adaptive reuse applications.
Property Size68,600 SF
Days on Market108
Property Features for 1620 Arthur St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Amenities
Power
Water
Sewer
Natural Gas
Vacant
Listing Agency:
BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
Listed By:
Dave Parks · License #202046
(502) 897-3321
Source:
Kcrea.resimplifi
Added: Jul 22
Changed: Oct 26
Last Checked: Nov 6 at 5:15AM
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 BERKSHIRE HATHAWAY HomeServices, Parks & Weisberg Realtors
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Investment Insights
Based on property information with market context.
This 2.7016-acre offering combines the 2.4458-acre parcel at 1620 Arthur Street with an adjacent 0.2558-acre parcel at 320 E. Gaulbert Avenue. The site is currently operated as a transitional housing facility and was previously developed as a hotel property, with past operations under Days Inn and Clarion flags. The improvements date to 1961.
Located immediately off Interstate 65, the property is minutes from the University of Louisville, Downtown Louisville, Churchill Downs, the Kentucky Exposition Center, the Central Business District, and Louisville Muhammad Ali International Airport. Louisville Metro EZ-1 zoning accommodates a broad range of commercial, hospitality, office, residential, mixed-use, and adaptive reuse applications, supporting multiple redevelopment and operating strategies.
Located immediately off Interstate 65, the property is minutes from the University of Louisville, Downtown Louisville, Churchill Downs, the Kentucky Exposition Center, the Central Business District, and Louisville Muhammad Ali International Airport. Louisville Metro EZ-1 zoning accommodates a broad range of commercial, hospitality, office, residential, mixed-use, and adaptive reuse applications, supporting multiple redevelopment and operating strategies.
Key Highlights
- 2.7016 total acres across two parcels
- 2.4458‑acre parcel at 1620 Arthur Street plus 0.2558‑acre parcel at 320 E. Gaulbert Avenue
- Currently operated as a transitional housing facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$258,073
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,161,460
$5.2M
Cap Rate 7%
$3,686,757
$3.7M
Cap Rate 9%
$2,867,478
$2.9M
Market Conditions
NOI Build-Up for 68,600 SF
Gross rent
$987.8K $14.40/SF
− Vacancy
−$444.5K −$6.48/SF
EGI
$543.3K $7.92/SF
− OpEx
−$285.2K −$4.16/SF
NOI
$258.1K $3.76/SF
Area
Louisville, KY
Vacancy
45.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,161,460
Cap Rate 7%
$3,686,757
Cap Rate 9%
$2,867,478
Alternative Uses
Best Use
Hotel Hospitality
$3.69M
$3.23M – $4.30M
NOI $258,073 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.78M
$15.56M – $20.74M
NOI $1,244,678 @ 7.0% cap · market cap 31.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
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Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - EZ-1 zoning supports hospitality, office, residential, mixed-use, and adaptive reuse applications.
Where is this hotel located?
The property is located at 1620 Arthur St Louisville, KY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 2.7016 total acres across two parcels; 2.4458‑acre parcel at 1620 Arthur Street plus 0.2558‑acre parcel at 320 E. Gaulbert Avenue; Currently operated as a transitional housing facility
