C2 Storefront
For Sale
$398,000
1812 Heaton Rd, Louisville, KY 40216
The 1975 property is positioned near I-264, I-65, and I-265 for regional access.
Property Size1,920 SF
Price / SF$207.29
Days on Market350
Property Features for 1812 Heaton Rd
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
11
Property subtype
Retail
Zoning
C2
Additional Details
Highway Access
Yes
Amenities
Drive-Thru
11 Parking Spaces
Building Details
Year Built
1975
Listing Agency:
Hoagland Commercial Realtors
(502) 664-5277
Listed By:
Zachary Swanson · License #76272
(502) 664-5277
Source:
Kcrea.resimplifi
Added: Sep 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:46PM
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 Realtors
Investment Insights
Based on property information with market context.
This 1,920-square-foot storefront property was built in 1975 and carries C2 zoning. The commercial building is located at 1812 Heaton Rd in Louisville’s Shively neighborhood, providing a defined setting for storefront-oriented occupancy.
Regional connections include proximity to I-264, I-65, and I-265. These interstate corridors provide access to multiple parts of the Louisville area and connect the property with established transportation routes.
Regional connections include proximity to I-264, I-65, and I-265. These interstate corridors provide access to multiple parts of the Louisville area and connect the property with established transportation routes.
Key Highlights
- 1,920 square feet of storefront space
- C2 zoning
- Built in 1975
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
$25,505
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
6.41%
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%
$510,100
$510.1K
Cap Rate 7%
$364,357
$364.4K
Cap Rate 9%
$283,389
$283.4K
Market Conditions
NOI Build-Up for 1,920 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
$41.5K $21.60/SF
− Vacancy
−$7.5K −$3.89/SF
EGI
$34.0K $17.71/SF
− OpEx
−$8.5K −$4.43/SF
NOI
$25.5K $13.28/SF
Area
ZIP 40216
Vacancy
18.00%
Lease Rate
$21.60 /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%
$510,100
Cap Rate 7%
$364,357
Cap Rate 9%
$283,389
Alternative Uses
Best Use
Office B
$364.4K
$318.8K – $425.1K
NOI $25,505 @ 7.0% cap · market cap 6.41%
Second Best
Retail
$341.0K
$298.4K – $397.8K
NOI $23,869 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$492.4K
$430.9K – $574.5K
NOI $34,468 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
597
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 Office 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?
Storefront property - The 1975 property is positioned near I-264, I-65, and I-265 for regional access.
Where is this storefront property located?
The property is located at 1812 Heaton Rd Louisville, KY.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: 1,920 square feet of storefront space; C2 zoning; Built in 1975
