Three-Story Mixed-Use
For Sale
$995,000
3000 S 3rd St, Louisville, KY 40208
Corner-lot property combines a restaurant storefront with six remodeled apartment units and convenient access to major Louisville destinations.
Property Size7,709 SF
Price / SF$129.07
Days on Market53
Property Features for 3000 S 3rd St
General Information
Standard status
Active
Size
7,709 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 1BR/1BA, 1 x 1BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
6
Building Details
Buildings
1
Stories
3
Listing Agency:
RE/MAX Premier Properties
(502) 384-5944
Listed By:
Camicia Evans · License #274631
(502) 356-0412
Source:
Exprealty
Added: Aug 25
Changed: Sep 17
Last Checked: Oct 15 at 3:16AM
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/MAX Premier Properties
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Investment Insights
Based on property information with market context.
This three-story mixed-use property combines a restaurant storefront with six remodeled apartment units. The residential component includes three one-bedroom, one-bath units, one one-bedroom unit with one and a half baths, and two two-bedroom, one-bath units. The restaurant occupies approximately 2,100 square feet on the main floor and an additional approximately 2,100 square feet in the basement, with three separate restrooms on the main level.
The building occupies a prominent corner lot in Louisville, with access to the University of Louisville baseball and football stadiums, Churchill Downs, Central Station Shopping Center, the Kentucky State Fairgrounds, Downtown Louisville, and major expressways.
The building occupies a prominent corner lot in Louisville, with access to the University of Louisville baseball and football stadiums, Churchill Downs, Central Station Shopping Center, the Kentucky State Fairgrounds, Downtown Louisville, and major expressways.
Key Highlights
- Six remodeled apartment units in a three‑story mixed‑use building
- Unit mix includes three 1‑bedroom/1‑bath, one 1‑bedroom/1.5‑bath, and two 2‑bedroom/1‑bath units
- Restaurant space includes approximately 2,100 square feet on the main floor and approximately 2,100 square feet in the basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,583
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,831,660
$1.8M
Cap Rate 7%
$1,308,329
$1.3M
Cap Rate 9%
$1,017,589
$1.0M
Market Conditions
NOI Build-Up for 7,709 SF
Gross rent
$166.5K $21.60/SF
− Vacancy
−$20.0K −$2.59/SF
EGI
$146.5K $19.01/SF
− OpEx
−$54.9K −$7.13/SF
NOI
$91.6K $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 Rate 5%
$1,831,660
Cap Rate 7%
$1,308,329
Cap Rate 9%
$1,017,589
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.35M – $1.81M
NOI $108,335 @ 7.0% cap · market cap 10.89%
Second Best
Mixed Use
$1.31M
$1.14M – $1.53M
NOI $91,583 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,872 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot property combines a restaurant storefront with six remodeled apartment units and convenient access to major Louisville destinations.
Where is this mixed-use property located?
The property is located at 3000 S 3rd St Louisville, KY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Six remodeled apartment units in a three‑story mixed‑use building; Unit mix includes three 1‑bedroom/1‑bath, one 1‑bedroom/1.5‑bath, and two 2‑bedroom/1‑bath units; Restaurant space includes approximately 2,100 square feet on the main floor and approximately 2,100 square feet in the basement
