Building Details

Year Built 1952

Listing Agency: Key Point Realty

Listed By: Senahid Bektas · License #295475 Show Phone

Source: Kcrea.resimplifi

Added: Mar 5, 2025 Changed: Oct 15 Last Checked: Oct 23 at 3:30AM

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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 Key Point Realty

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Investment Insights

Based on property information with market context.

This corner lot property is suitable for auto service and is currently rented for $1400 per month under a one-year lease that commenced on September 1, 2025. The property features an operational lift and a newer roof. The property size is 1317 square feet. The lease agreement is available upon request.

Key Highlights

• Corner lot property with auto service opportunity.
• Operational lift included.
• Newer roof.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,184

Cap Rate

7.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$303,680 $303.7K

Cap Rate 7%

$216,914 $216.9K

Cap Rate 9%

$168,711 $168.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,317 SF

Gross rent

$23.7K $18.00/SF

− Vacancy

−$2.0K −$1.53/SF

EGI

$21.7K $16.47/SF

− OpEx

−$6.5K −$4.94/SF

NOI

$15.2K $11.53/SF

Area

Louisville, KY

Vacancy

8.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$303,680

Cap Rate 7%

$216,914

Cap Rate 9%

$168,711

Alternative Uses

Best Use

Retail

$216.9K

$189.8K – $253.1K (±1% cap)

NOI $15,184 @ 7.0% cap · market cap 7.59%

Second Best

Industrial

$112.6K

$98.5K – $131.4K (±1% cap)

NOI $7,882 @ 7.0% cap · market cap 3.94%

Theoretical Best

Office A

$341.4K

$298.7K – $398.3K (±1% cap)

NOI $23,896 @ 7.0% cap · market cap 11.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Mauri Diag Auto ... Auto Repair Shop Clary's Auto Services Auto Repair Shop U-Haul Neighborhood Dealer Car Rental Facility

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic (Bike/Boat/Book/etc) Store Garden Center Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

813

Businesses Nearby

68k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 63% Dining 35% Electronics 2%

McDonald's Dining

16,580 visits/mo 0.3 miles

Circle K Shops & Services

15,968 visits/mo 0.4 miles

Speedway Shops & Services

7,976 visits/mo 0.2 miles

Marathon Shops & Services

6,822 visits/mo 0.3 miles

Family Dollar Shops & Services

6,408 visits/mo 0.3 miles

Demographics for 40203, KY

16,801

Population

10,754

Households

1.6

Avg Household Size

37

Median Age

22%

College-Educated

86%

High-School Grad

2.9 sq mi

ZIP Area

5,793

Density / Sq Mi

$31,430

Median Household Income

$32,581

Median Earnings

$828

Median Rent

$179,300

Median Home Value

Market

Vacancy Rate% for Retail in Louisville, KY

5.4% 2019

5.4% 2020

4.7% 2021

4.8% 2022

5.1% 2023

4.2% 2024

4.8% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - Corner lot property with operational lift and newer roof.

Where is this auto shop located?

The property is located at 1828 Bank St Louisville, KY.

What is the asking price?

The asking price for this property is $200,000.

What are key features of this property?

This property features: Corner lot property with auto service opportunity.; Operational lift included.; Newer roof.