Historic Mixed-Use
For Sale
$450,000
231 N 19th St, Louisville, KY 40203
1890 building combines office space, three apartments, a detached garage, and two adjacent vacant lots.
Property Size4,122 SF
Lot Size0.30 Acres
Price / SF$109.17
Days on Market85
Property Features for 231 N 19th St
General Information
Standard status
Active
Size
4,122 SF
Lot size
0.30 Acres
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Land Use
mixed-use, commercial, residential
Office Units
1
Amenities
garage
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
RE Solutions LLC
Listed By:
Darcy Nobile
(502) 645-1212
Source:
Familyrealty
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 7 at 4:24PM
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 RE Solutions LLC
Investment Insights
Based on property information with market context.
Built in 1890, this mixed-use property combines a main-level office area with three residential apartments and a detached garage. The office floor includes an entry area, work space, sitting room, small kitchen, and half bath, along with access to a private, fully fenced gravel yard. The basement provides a large living area, a separate room, furnace room, and storage space. Residential accommodations include an apartment above the garage, a one-bedroom apartment on the second floor, and a three-bedroom apartment on the third floor.
The sale also includes two adjacent vacant lots at 227 and 229 N 19th, creating an approximately 0.3-acre footprint. The property occupies the corner of 19th and Duncan and is located across from a park. Its combination of office, residential, garage, and land components creates a single mixed-use asset with varied physical improvements.
The sale also includes two adjacent vacant lots at 227 and 229 N 19th, creating an approximately 0.3-acre footprint. The property occupies the corner of 19th and Duncan and is located across from a park. Its combination of office, residential, garage, and land components creates a single mixed-use asset with varied physical improvements.
Key Highlights
- 1890 mixed‑use building with office space and 3 residential apartments
- Sale includes adjacent vacant lots at 227 and 229 N 19th
- Approximately 0.3 acres across the combined property footprint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,684
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,680
$693.7K
Cap Rate 7%
$495,486
$495.5K
Cap Rate 9%
$385,378
$385.4K
Market Conditions
NOI Build-Up for 4,122 SF
Gross rent
$52.4K $12.72/SF
− Vacancy
−$2.9K −$0.70/SF
EGI
$49.5K $12.02/SF
− OpEx
−$14.9K −$3.61/SF
NOI
$34.7K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,680
Cap Rate 7%
$495,486
Cap Rate 9%
$385,378
Alternative Uses
Best Use
Office B
$760.5K
$665.5K – $887.3K
NOI $53,236 @ 7.0% cap · market cap 11.83%
Second Best
Mixed Use
$699.6K
$612.1K – $816.2K
NOI $48,969 @ 7.0% cap · market cap 10.88%
Theoretical Best
Office A
$1.07M
$934.9K – $1.25M
NOI $74,790 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - 1890 building combines office space, three apartments, a detached garage, and two adjacent vacant lots.
Where is this mixed-use property located?
The property is located at 231 N 19th St Louisville, KY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1890 mixed‑use building with office space and 3 residential apartments; Sale includes adjacent vacant lots at 227 and 229 N 19th; Approximately 0.3 acres across the combined property footprint
