Building Details

Year Built 1930

Listing Agency: simpler.realestate

Listed By: Meredeth Holliger · License #199488 Show Phone

Source: Kcrea.resimplifi

Added: Jul 9 Changed: Oct 2 Last Checked: Oct 16 at 5:47AM

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Investment Insights

Based on property information with market context.

This 1,926-square-foot flex space was built in 1930 and includes a finished reception area and office at the front of the building. Additional improvements include unfinished storage, a finished kitchen, and a bathroom with a stand-up shower. Access to the cellar or basement is provided from Iowa, while the building also includes a rear walkway and privacy-fenced yard. The property previously accommodated an HVAC company.

Positioned on a corner lot along Taylor Blvd, the property offers street parking and frontage-facing exposure. It is across from South Louisville Community Center and located blocks from Churchill Downs. The property is zoned R6.

Key Highlights

• 1,926‑square‑foot flex space built in 1930
• Finished reception area and office at the front of the building
• Unfinished storage, finished kitchen, and bathroom with stand‑up shower

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,527

Cap Rate

7.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$230,540 $230.5K

Cap Rate 7%

$164,671 $164.7K

Cap Rate 9%

$128,078 $128.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,926 SF

Gross rent

$17.3K $9.00/SF

− Vacancy

−$867 −$0.45/SF

EGI

$16.5K $8.55/SF

− OpEx

−$4.9K −$2.56/SF

NOI

$11.5K $5.98/SF

Area

Louisville, KY

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$230,540

Cap Rate 7%

$164,671

Cap Rate 9%

$128,078

Alternative Uses

Best Use

Flex RnD

$249.5K

$218.3K – $291.1K (±1% cap)

NOI $17,464 @ 7.0% cap · market cap 12.04%

Second Best

Industrial

$164.7K

$144.1K – $192.1K (±1% cap)

NOI $11,527 @ 7.0% cap · market cap 7.95%

Theoretical Best

Office A

$499.2K

$436.8K – $582.4K (±1% cap)

NOI $34,945 @ 7.0% cap · market cap 24.10%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Skin Care Clinic Electrical Service

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

552

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 40208, KY

17,048

Population

6,675

Households

2.6

Avg Household Size

27

Median Age

34%

College-Educated

88%

High-School Grad

2.6 sq mi

ZIP Area

6,557

Density / Sq Mi

$37,714

Median Household Income

$17,255

Median Earnings

$914

Median Rent

$153,100

Median Home Value

Market

Vacancy Rate% for Industrial in Louisville, KY

5.1% 2019

4.7% 2020

1.7% 2021

3.9% 2022

3.9% 2023

3.6% 2024

3.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two-level commercial space with offices, storage, kitchen, bathroom, cellar access, and a fenced rear area.

Where is this flex space located?

The property is located at 2829 Taylor Blvd Louisville, KY.

What is the asking price?

The asking price for this property is $145,000.

What are key features of this property?

This property features: 1,926‑square‑foot flex space built in 1930; Finished reception area and office at the front of the building; Unfinished storage, finished kitchen, and bathroom with stand‑up shower