Modern Office Building with
For Sale
Contact for pricing
2101 High Wickham Pl, Louisville, KY 40245
Built in 2017 with an open floor plate, glass-forward layout, and two-story lobby.
Property Size34,000 SF
Price / SF$250
Days on Market165
Property Features for 2101 High Wickham Pl
General Information
Standard status
Active
Size
34,000 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
Generac 400kw generator
open floor plate
lots of glass
open area
offices
conference rooms
two story lobby
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
TRIO Commercial Property Group
Listed By:
Justin Baker · License #204053
(502) 454-0911
Source:
Moodyscre
Added: Mar 25
Changed: Jul 22
Last Checked: Aug 14 at 7:50AM
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 TRIO Commercial Property Group
Investment Insights
Based on property information with market context.
The Old Henry Crossings Building 5 is a modern office property built in 2017. The layout features an open floor plate with substantial glass, along with a mix of open work areas, offices, conference rooms, and a two-story lobby. The building is equipped with an on-site Generac generator with 400 kW capacity.
The property provides easy access to I-265. It is positioned near area employers and retailers including Mercedes Benz and Harley Davidson, and Publix is listed as coming soon.
With a 5:1 parking ratio, the building is configured to support daily tenant parking needs alongside its flexible office interior arrangement.
The property provides easy access to I-265. It is positioned near area employers and retailers including Mercedes Benz and Harley Davidson, and Publix is listed as coming soon.
With a 5:1 parking ratio, the building is configured to support daily tenant parking needs alongside its flexible office interior arrangement.
Key Highlights
- Old Henry Crossings Building 5 built in 2017
- 5:1 parking ratio
- Generac generator with 400 kW capacity
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
$414,018
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
4.87%
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%
$8,280,360
$8.3M
Cap Rate 7%
$5,914,543
$5.9M
Cap Rate 9%
$4,600,200
$4.6M
Market Conditions
NOI Build-Up for 34,000 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
$673.2K $19.80/SF
− Vacancy
−$121.2K −$3.56/SF
EGI
$552.0K $16.24/SF
− OpEx
−$138.0K −$4.06/SF
NOI
$414.0K $12.18/SF
Area
ZIP 40245
Vacancy
18.00%
Lease Rate
$19.80 /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%
$8,280,360
Cap Rate 7%
$5,914,543
Cap Rate 9%
$4,600,200
Alternative Uses
Best Use
Office B
$5.91M
$5.18M – $6.90M
NOI $414,018 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.32M
$7.28M – $9.71M
NOI $582,624 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 40245, KY
37,866
Population
15,226
Households
2.5
Avg Household Size
41
Median Age
59%
College-Educated
97%
High-School Grad
32.6 sq mi
ZIP Area
1,162
Density / Sq Mi
$120,171
Median Household Income
$63,623
Median Earnings
$1,605
Median Rent
$432,900
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2017 with an open floor plate, glass-forward layout, and two-story lobby.
Where is this office building located?
The property is located at 2101 High Wickham Pl Louisville, KY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Old Henry Crossings Building 5 built in 2017; 5:1 parking ratio; Generac generator with 400 kW capacity
