Mixed-Use Property with
For Sale
$900,000
1905 Bardstown Rd #2, Louisville, KY 40205
A wellness-oriented commercial space is paired with three residential apartments, including one currently occupied unit.
Property Size5,102 SF
Price / SF$176.40
Days on Market52
Property Features for 1905 Bardstown Rd #2
General Information
Standard status
Active
Size
5,102 SF
Property subtype
Triplex
Site & Location
Neighborhood
Deer Park
Mixed-Use Components
retail, residential
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1920
Buildings
1
Listing Agency:
On the Move Realtors, Inc.
(502) 509-7653
Listed By:
Mike Brown · License #197906
(502) 643-3175
Source:
Onthemoverealtors
Added: Sep 10
Changed: Oct 30
Last Checked: Oct 30 at 2:34PM
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 On the Move Realtors, Inc.
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Investment Insights
Based on property information with market context.
This 5,102-square-foot mixed-use property, built in 1920, combines a salon and spa layout with three apartments. The commercial area includes spaces for hair and nail services, IV treatments, and massage. One apartment is occupied under a lease running from June 1, 2026, through May 31, 2027; the other two are vacant.
The property is at 1905 Bardstown Road in Louisville’s Highlands neighborhood, along a corridor described as having dining, shops, coffee businesses, and nightlife nearby.
The property is at 1905 Bardstown Road in Louisville’s Highlands neighborhood, along a corridor described as having dining, shops, coffee businesses, and nightlife nearby.
Key Highlights
- 5,102 square feet; built in 1920
- Salon and spa areas include hair, nails, IV treatment, and massage rooms
- Three apartments; one occupied and two vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,612
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,240
$1.2M
Cap Rate 7%
$865,886
$865.9K
Cap Rate 9%
$673,467
$673.5K
Market Conditions
NOI Build-Up for 5,102 SF
Gross rent
$110.2K $21.60/SF
− Vacancy
−$13.2K −$2.59/SF
EGI
$97.0K $19.01/SF
− OpEx
−$36.4K −$7.13/SF
NOI
$60.6K $11.88/SF
Area
Louisville, KY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,212,240
Cap Rate 7%
$865,886
Cap Rate 9%
$673,467
Alternative Uses
Best Use
Mixed Use
$865.9K
$757.7K – $1.01M
NOI $60,612 @ 7.0% cap · market cap 6.73%
Second Best
Multifamily LT 5
$613.3K
$536.6K – $715.5K
NOI $42,930 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,571 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
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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 Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A wellness-oriented commercial space is paired with three residential apartments, including one currently occupied unit.
Where is this mixed-use property located?
The property is located at 1905 Bardstown Rd #2 Louisville, KY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 5,102 square feet; built in 1920; Salon and spa areas include hair, nails, IV treatment, and massage rooms; Three apartments; one occupied and two vacant
