Listing Agency: Jones Lang LaSalle Americas In

Listed By: Todd Moorman · License #214349 Show Phone

Source: Kcrea.resimplifi

Added: Nov 1, 2025 Changed: Oct 11 Last Checked: Oct 16 at 5:53AM

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Investment Insights

Based on property information with market context.

This flex property at 2927 S Floyd St in Louisville provides 5,579 SF of total space, including +/- 1,200 SF of office area. The facility offers 12'–14' clear height, one dock, and one drive-in door for loading and access. A secure lot is also included.

The property is available for lease and carries EZ1 zoning. Its combination of office, warehouse-oriented space, loading infrastructure, and secured exterior area supports a range of commercial operations requiring both work space and access for deliveries.

Key Highlights

• 5,579 SF total property size
• +/- 1,200 SF of office space
• 12'–14' clear height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,390

Suggested Prices Based on Cap Rates

Cap Rate 5%

$667,800 $667.8K

Cap Rate 7%

$477,000 $477.0K

Cap Rate 9%

$371,000 $371.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 5,579 SF

Gross rent

$50.2K $9.00/SF

− Vacancy

−$2.5K −$0.45/SF

EGI

$47.7K $8.55/SF

− OpEx

−$14.3K −$2.56/SF

NOI

$33.4K $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%

$667,800

Cap Rate 7%

$477,000

Cap Rate 9%

$371,000

Alternative Uses

Best Use

Flex RnD

$722.7K

$632.4K – $843.1K (±1% cap)

NOI $50,588 @ 7.0% cap · market cap 843,133.33%

Second Best

Warehouse

$644.4K

$563.8K – $751.8K (±1% cap)

NOI $45,106 @ 7.0% cap · market cap 751,766.67%

Theoretical Best

Office A

$1.45M

$1.27M – $1.69M (±1% cap)

NOI $101,225 @ 7.0% cap · market cap 1,687,083.33%

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

Property Analytics

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Current Use

Steel Creations General Contractor JSW Manufacturing Industrial Manufacturer

Suggested Use

Top Pick Real Estate Agency Dental Office Hair Salon Law Firm Building Supply Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14 ft

Clear height

1

Dock-high doors

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

678

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 40209, KY

426

Population

316

Households

1.3

Avg Household Size

36

Median Age

6%

College-Educated

67%

High-School Grad

4.3 sq mi

ZIP Area

99

Density / Sq Mi

$52,697

Median Household Income

$40,186

Median Earnings

$1,083

Median Rent

$128,200

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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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial space combines office area, loading access, and a secured lot.

Where is this flex space located?

The property is located at 2927 S Floyd St Louisville, KY.

What are key features of this property?

This property features: 5,579 SF total property size; +/- 1,200 SF of office space; 12'–14' clear height