Building Details

Year Built 1944

Tenancy Single Tenant

Listing Agency: Enrich Realty, LLC

Listed By: Courtney Dietrich Show Phone

Source: Kcrea.resimplifi

Added: Jul 16 Changed: Sep 14 Last Checked: Oct 16 at 5:45AM

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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 Enrich Realty, LLC

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Investment Insights

Based on property information with market context.

This 1,629-square-foot storefront property was built in 1944 and has undergone substantial recent updates. The upper level now includes a kitchen and bathroom, creating a configuration that supports live-work use or short-term rental operations alongside the commercial storefront.

Located at 2219 Frankfort Ave in Louisville’s Clifton neighborhood, the property is positioned within walking distance of local shops, restaurants, and cultural destinations. C2 zoning adds flexibility for commercial occupancy, while the combination of updated improvements and an upper-level residential-style component gives the building a range of supported use possibilities.

Key Highlights

• 1,629‑square‑foot storefront property
• C2 zoning
• Recent updates throughout the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,039

Cap Rate

4.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$420,780 $420.8K

Cap Rate 7%

$300,557 $300.6K

Cap Rate 9%

$233,767 $233.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,629 SF

Gross rent

$34.2K $21.00/SF

− Vacancy

−$6.2K −$3.78/SF

EGI

$28.1K $17.22/SF

− OpEx

−$7.0K −$4.31/SF

NOI

$21.0K $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 Rate 5%

$420,780

Cap Rate 7%

$300,557

Cap Rate 9%

$233,767

Alternative Uses

Best Use

Office B

$300.6K

$263.0K – $350.7K (±1% cap)

NOI $21,039 @ 7.0% cap · market cap 4.95%

Second Best

Mixed Use

$276.5K

$241.9K – $322.6K (±1% cap)

NOI $19,353 @ 7.0% cap · market cap 4.55%

Theoretical Best

Office A

$422.2K

$369.5K – $492.6K (±1% cap)

NOI $29,557 @ 7.0% cap · market cap 6.95%

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

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Dental Office Law Firm Kitchen & Bath Showroom HVAC Service Parking Lot & Garage Carpet & Flooring Store

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

802

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 40206, KY

20,196

Population

11,637

Households

1.7

Avg Household Size

38

Median Age

55%

College-Educated

95%

High-School Grad

5.8 sq mi

ZIP Area

3,482

Density / Sq Mi

$72,543

Median Household Income

$48,506

Median Earnings

$1,142

Median Rent

$276,100

Median Home Value

Market

Vacancy Rate% for Office in Louisville, KY

12.4% 2019

14.8% 2020

14.3% 2021

15.4% 2022

16.3% 2023

15.7% 2024

18.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - C2-zoned storefront with an updated upstairs kitchen and bathroom suited to commercial or live-work use.

Where is this storefront property located?

The property is located at 2219 Frankfort Ave Louisville, KY.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 1,629‑square‑foot storefront property; C2 zoning; Recent updates throughout the property