Mixed-Use Property with Salon
New
For Sale
$1,300,000
1905 Bardstown Rd, Louisville, KY 40205
Ground-floor beauty and wellness improvements complement three residential apartments above.
Property Size5,102 SF
Days on Market4
Property Features for 1905 Bardstown Rd
General Information
Standard status
Active
Size
5,102 SF
Property subtype
Retail
Additional Details
Multifamily Units
3
Building Details
Building Size
5,102 SF
Year Built
1920
Buildings
1
Listed By:
Sam Griffin, CCIM, CBI, NACREP · License #KY #207824
(502) 640-3622
Source:
7s
Added: Sep 12
Last Checked: Sep 14 at 7:02AM
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 Sam Griffin, CCIM, CBI, NACREP
Investment Insights
Based on property information with market context.
This mixed-use building combines a commercial ground floor with three apartments on the upper levels. The commercial area features a second-generation salon and med-spa buildout, including plumbing and wiring for a hair salon, nail bar, and injection or med-spa studio. Existing salon and studio furniture and equipment are negotiable. The upper-level residences include one leased apartment and two vacant units, creating flexibility for owner occupancy or new leasing arrangements.
The property is located at 1905 Bardstown Road in Louisville’s Highlands neighborhood, along a corridor described as having dining, boutique retail, coffee shops, and nightlife. The site also offers street frontage and signage opportunities on Bardstown Road. Its combination of commercial improvements and residential units supports a range of owner-user and investment configurations.
The property is located at 1905 Bardstown Road in Louisville’s Highlands neighborhood, along a corridor described as having dining, boutique retail, coffee shops, and nightlife. The site also offers street frontage and signage opportunities on Bardstown Road. Its combination of commercial improvements and residential units supports a range of owner-user and investment configurations.
Key Highlights
- Second‑generation ground‑floor salon and med‑spa buildout
- Commercial area is fully plumbed and wired for salon, nail bar, and injection or med‑spa uses
- Three (3) total apartments above the commercial space
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
$65,892
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
5.07%
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%
$1,317,840
$1.3M
Cap Rate 7%
$941,314
$941.3K
Cap Rate 9%
$732,133
$732.1K
Market Conditions
NOI Build-Up for 5,102 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
$107.1K $21.00/SF
− Vacancy
−$19.3K −$3.78/SF
EGI
$87.9K $17.22/SF
− OpEx
−$22.0K −$4.31/SF
NOI
$65.9K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /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%
$1,317,840
Cap Rate 7%
$941,314
Cap Rate 9%
$732,133
Alternative Uses
Best Use
Office B
$941.3K
$823.7K – $1.10M
NOI $65,892 @ 7.0% cap · market cap 5.07%
Second Best
Mixed Use
$865.9K
$757.7K – $1.01M
NOI $60,612 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,571 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 40205, KY
24,077
Population
11,021
Households
2.2
Avg Household Size
43
Median Age
65%
College-Educated
97%
High-School Grad
6.9 sq mi
ZIP Area
3,489
Density / Sq Mi
$98,990
Median Household Income
$54,604
Median Earnings
$1,095
Median Rent
$361,900
Median Home Value
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Market
Vacancy Rate% for Office in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor beauty and wellness improvements complement three residential apartments above.
Where is this mixed-use property located?
The property is located at 1905 Bardstown Rd Louisville, KY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Second‑generation ground‑floor salon and med‑spa buildout; Commercial area is fully plumbed and wired for salon, nail bar, and injection or med‑spa uses; Three (3) total apartments above the commercial space
