Fenced Warehouse
New
For Sale
$125,000
3011 W Main St, Louisville, KY 40212
Two parcels include a heated garage and EZ1 zoning.
Property Size1,369 SF
Price / SF$91.31
Days on Market7
Property Features for 3011 W Main St
General Information
Standard status
Active
Size
1,369 SF
Property subtype
Industrial
Zoning
EZ1
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1960
Listing Agency:
Exit Realty Crutcher
Listed By:
Darlene Hirth · License #212206
(502) 327-9838
Source:
Kcrea.resimplifi
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 8 at 3:49AM
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 Exit Realty Crutcher
Investment Insights
Based on property information with market context.
This warehouse-class property consists of two lots measuring .277 of an acre and .1361 of an acre. The site includes a 1,369-square-foot, two-car heated garage and is fully fenced.
The property is zoned EZ1 and is located at 3011 W Main St in Louisville, KY 40212. Commercial warehouse use is identified as a potential application for the property.
The property is zoned EZ1 and is located at 3011 W Main St in Louisville, KY 40212. Commercial warehouse use is identified as a potential application for the property.
Key Highlights
- Two lots measuring .277 of an acre and .1361 of an acre
- 1,369‑square‑foot two‑car heated garage
- Fully fenced property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,068
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$221,360
$221.4K
Cap Rate 7%
$158,114
$158.1K
Cap Rate 9%
$122,978
$123.0K
Market Conditions
NOI Build-Up for 1,369 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.6K $9.96/SF
− Vacancy
−$614 −$0.45/SF
EGI
$13.0K $9.51/SF
− OpEx
−$2.0K −$1.43/SF
NOI
$11.1K $8.09/SF
Area
Louisville, KY
Vacancy
4.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$221,360
Cap Rate 7%
$158,114
Cap Rate 9%
$122,978
Alternative Uses
Best Use
Warehouse
$158.1K
$138.4K – $184.5K
NOI $11,068 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$354.8K
$310.5K – $414.0K
NOI $24,839 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40212, KY
16,360
Population
8,061
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
4,305
Density / Sq Mi
$35,389
Median Household Income
$28,506
Median Earnings
$917
Median Rent
$78,100
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Michael Ball Moving and Storage — 2310 W Main St, Louisville, KY 40212
Frequently Asked Questions
What type of property is this?
Warehouse - Two parcels include a heated garage and EZ1 zoning.
Where is this warehouse located?
The property is located at 3011 W Main St Louisville, KY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two lots measuring .277 of an acre and .1361 of an acre; 1,369‑square‑foot two‑car heated garage; Fully fenced property
