Decagonal Glass-and-Stone Mixed-Use
For Sale
$1,650,000
2303 Watterson Trail, Louisville, KY 40299
Three-level configuration combines professional offices, residential quarters, landscaped grounds, and gated parking.
Property Size7,406 SF
Lot Size1.38 Acres
Price / SF$222.79
Days on Market98
Property Features for 2303 Watterson Trail
General Information
Standard status
Active
Size
7,406 SF
Total Parking Spaces
28
Lot size
1.38 Acres
Property subtype
Office
Zoning
C1
Amenities
elevated walkway
pond
private patio
covered observation deck
balconies
Power
Water
Sewer
Natural Gas
Vacant
28 Parking Spaces
Building Details
Year Built
2002
Year Renovated
2016
Buildings
1
Stories
3
Construction
glass and stone
Listing Agency:
Gant Hill & Associates, LLC
Listed By:
Gant Hill · License #45425
(502) 515-4455
Source:
Kcrea.resimplifi
Added: Jul 9
Changed: Oct 4
Last Checked: Oct 12 at 4:33PM
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 Gant Hill & Associates, LLC
Investment Insights
Based on property information with market context.
Located at 2303 Watterson Trail in Jeffersontown, this mixed-use property presents a distinctive decagonal glass-and-stone design across a three-story structure. The building contains 9,400 square feet above grade and more than 13,000 usable square feet when the lower level is included. Interior improvements include a lobby, private offices, work areas, conference rooms, bathrooms, open areas, and a residential-style second floor with three bedrooms and three full bathrooms. The upper-level residence was renovated in 2016, while the building dates to 2002.
Set on 1.38 acres within Bluegrass Industrial Park, the property includes landscaped grounds, a pond, patio, observation deck, balconies, and a raised walkway connecting the parking area to the upper level. Front and rear gated lots accommodate up to 28 vehicles. C1 zoning, lower-level exterior access, and the combination of office and residential areas support the documented commercial and live-work configuration. The property is identified as being in flood zone B and X, described as an area of moderate flood hazard.
Set on 1.38 acres within Bluegrass Industrial Park, the property includes landscaped grounds, a pond, patio, observation deck, balconies, and a raised walkway connecting the parking area to the upper level. Front and rear gated lots accommodate up to 28 vehicles. C1 zoning, lower-level exterior access, and the combination of office and residential areas support the documented commercial and live-work configuration. The property is identified as being in flood zone B and X, described as an area of moderate flood hazard.
Key Highlights
- More than 13,000 usable square feet across above‑grade and lower‑level areas
- Three‑story building with 9,400 square feet above grade
- 1.38‑acre landscaped setting in Bluegrass Industrial Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,483
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,660
$1.7M
Cap Rate 7%
$1,249,757
$1.2M
Cap Rate 9%
$972,033
$972.0K
Market Conditions
NOI Build-Up for 7,406 SF
Gross rent
$155.5K $21.00/SF
− Vacancy
−$15.6K −$2.10/SF
EGI
$140.0K $18.90/SF
− OpEx
−$52.5K −$7.09/SF
NOI
$87.5K $11.81/SF
Area
ZIP 40299
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,660
Cap Rate 7%
$1,249,757
Cap Rate 9%
$972,033
Alternative Uses
Best Use
Mixed Use
$1.25M
$1.09M – $1.46M
NOI $87,483 @ 7.0% cap · market cap 5.30%
Second Best
Office B
$1.25M
$1.09M – $1.46M
NOI $87,450 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,909 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
Median Home Value
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Market
Vacancy Rate% for Office in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level configuration combines professional offices, residential quarters, landscaped grounds, and gated parking.
Where is this mixed-use property located?
The property is located at 2303 Watterson Trail Louisville, KY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: More than 13,000 usable square feet across above‑grade and lower‑level areas; Three‑story building with 9,400 square feet above grade; 1.38‑acre landscaped setting in Bluegrass Industrial Park
