Mixed-Use Property with
For Sale
$399,900
2300 W Kentucky St, Louisville, KY 40210
Commercial storefront anchors the lower level, with two rent-ready one-bedroom apartments and secured off-street parking above.
Property Size2,922 SF
Price / SF$136.86
Days on Market127
Property Features for 2300 W Kentucky St
General Information
Standard status
Active
Size
2,922 SF
Total Parking Spaces
5
Property subtype
Retail
Zoning
C1
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Opportunity Zone
Yes
Amenities
gated parking lot
park adjacent
fully equipped storefront
5 Parking Spaces
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Schuler Bauer Real Estate Services ERA Powered
(502) 773-5084
Listed By:
Kurt Schuler
(502) 773-5084
Source:
Kcrea.resimplifi
Added: Apr 24
Changed: Aug 28
Last Checked: Aug 28 at 7:46AM
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 Schuler Bauer Real Estate Services ERA Powered
Investment Insights
Based on property information with market context.
This mixed-use building combines a commercial storefront with two one-bedroom apartments in an approximately 2,922-square-foot property. The lower level is fully equipped for storefront operations, while the residential units are prepared for occupancy. Built in 1920, the property is zoned C1 and includes a fenced, gated parking area serving the building.
Located at 2300 W Kentucky St in Louisville, the property is adjacent to a 4-acre park and positioned in a neighborhood identified as an Opportunity Zone. The configuration supports commercial activity on the main level with residential space above, creating a compact combination of retail and multifamily uses.
Located at 2300 W Kentucky St in Louisville, the property is adjacent to a 4-acre park and positioned in a neighborhood identified as an Opportunity Zone. The configuration supports commercial activity on the main level with residential space above, creating a compact combination of retail and multifamily uses.
Key Highlights
- Approximately 2,922 SF mixed‑use building with commercial and residential components
- Two one‑bedroom apartments positioned above the storefront
- Fully equipped commercial storefront on the main level
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
$34,713
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
8.68%
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%
$694,260
$694.3K
Cap Rate 7%
$495,900
$495.9K
Cap Rate 9%
$385,700
$385.7K
Market Conditions
NOI Build-Up for 2,922 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
$63.1K $21.60/SF
− Vacancy
−$7.6K −$2.59/SF
EGI
$55.5K $19.01/SF
− OpEx
−$20.8K −$7.13/SF
NOI
$34.7K $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%
$694,260
Cap Rate 7%
$495,900
Cap Rate 9%
$385,700
Alternative Uses
Best Use
Specialty Retail
$586.6K
$513.3K – $684.4K
NOI $41,063 @ 7.0% cap · market cap 10.27%
Second Best
Mixed Use
$495.9K
$433.9K – $578.6K
NOI $34,713 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$757.4K
$662.7K – $883.6K
NOI $53,017 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 40210, KY
14,418
Population
7,137
Households
2
Avg Household Size
36
Median Age
10%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
4,506
Density / Sq Mi
$35,841
Median Household Income
$23,881
Median Earnings
$822
Median Rent
$93,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefront anchors the lower level, with two rent-ready one-bedroom apartments and secured off-street parking above.
Where is this mixed-use property located?
The property is located at 2300 W Kentucky St Louisville, KY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Approximately 2,922 SF mixed‑use building with commercial and residential components; Two one‑bedroom apartments positioned above the storefront; Fully equipped commercial storefront on the main level
