Leased Mixed-Use
New
For Sale
$850,000
2110 Bardstown Rd, Louisville, KY 40205
Five occupied suites combine commercial space with a remodeled residential apartment and C-2 zoning.
Property Size5,680 SF
Price / SF$149.65
Days on Market5
Property Features for 2110 Bardstown Rd
General Information
Standard status
Active
Size
5,680 SF
Total Parking Spaces
3
Property subtype
Retail
Zoning
C2
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA + loft
Multifamily Units
1
Additional Details
Gross Income
$72,800
Road Access
Yes
Amenities
High Ceilings
Hardwood Floors
New Roof
Additional Storage
Power
Water
Sewer
Natural Gas
3 Parking Spaces
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
simpler.realestate
Listed By:
Stephanie Mattingly · License #67020
(502) 751-3326
Source:
Kcrea.resimplifi
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 14 at 2:42PM
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 simpler.realestate
Investment Insights
Based on property information with market context.
This 1920 mixed-use building contains 5,680 square feet across four commercial suites and one residential apartment. The commercial spaces include a 700-square-foot medical suite, adjoining 400-square-foot and 1,700-square-foot wellness studio suites, and a 600-square-foot retail suite. The remodeled 1,500-square-foot apartment includes two bedrooms, two baths, and a loft. All five spaces are leased, with commercial agreements extending through 2030 in certain suites and renewal options extending to 2035. Recent improvements include a full roof replacement, LVP flooring, interior paint, a storm door, partial sidewalk repairs, and a new sump pump. The apartment received a washer, dryer, and PTEK HVAC system in 2026.
The property has C-2 zoning, three dedicated rear parking spaces, and available street parking. It is located across from the Douglass Loop Farmers Market, with restaurants, shops, places of worship, Cherokee Park, and Bellarmine University nearby. The building offers a combination of existing income-producing occupancy, commercial storefront space, and an onsite residential component.
The property has C-2 zoning, three dedicated rear parking spaces, and available street parking. It is located across from the Douglass Loop Farmers Market, with restaurants, shops, places of worship, Cherokee Park, and Bellarmine University nearby. The building offers a combination of existing income-producing occupancy, commercial storefront space, and an onsite residential component.
Key Highlights
- 5,680 square feet with four commercial suites and one residential apartment
- Five leased spaces with zero vacancy
- Remodeled 1,500‑square‑foot apartment with two bedrooms, two baths, and a loft
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
$67,478
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
7.94%
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%
$1,349,560
$1.3M
Cap Rate 7%
$963,971
$964.0K
Cap Rate 9%
$749,756
$749.8K
Market Conditions
NOI Build-Up for 5,680 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
$122.7K $21.60/SF
− Vacancy
−$14.7K −$2.59/SF
EGI
$108.0K $19.01/SF
− OpEx
−$40.5K −$7.13/SF
NOI
$67.5K $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 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%
$1,349,560
Cap Rate 7%
$963,971
Cap Rate 9%
$749,756
Alternative Uses
Best Use
Mixed Use
$964.0K
$843.5K – $1.12M
NOI $67,478 @ 7.0% cap · market cap 7.94%
Second Best
Retail
$935.5K
$818.6K – $1.09M
NOI $65,485 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,058 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 71%
Shops & Services 22%
Beauty & Spa 4%
Dining 3%
Kroger
Groceries
42,722 visits/mo
0.5 miles
Chase Bank
Shops & Services
4,591 visits/mo
0.5 miles
FedEx Office Print & Ship Center
Shops & Services
3,839 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
3,097 visits/mo
0.0 miles
Papa John's Pizza
Dining
2,114 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five occupied suites combine commercial space with a remodeled residential apartment and C-2 zoning.
Where is this mixed-use property located?
The property is located at 2110 Bardstown Rd Louisville, KY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,680 square feet with four commercial suites and one residential apartment; Five leased spaces with zero vacancy; Remodeled 1,500‑square‑foot apartment with two bedrooms, two baths, and a loft
