Two-Property Hospitality
For Sale
$975,000
Pending
311 W Jefferson, La Grange, KY 40031
Offering includes two hospitality properties between West Main Street and West Jefferson Street, near downtown and LaGrange Springs Park.
Property Size8,906 SF
Days on Market963
Property Features for 311 W Jefferson
General Information
Standard status
Pending
Size
8,906 SF
Property subtype
Retail
Amenities
Water
Sewer
Listing Agency:
Horizon Commercial Realty, LLC
Listed By:
Michael DeHart · License #206388
(502) 500-2504
Source:
Kcrea.resimplifi
Added: Mar 1, 2024
Changed: Oct 17
Last Checked: Oct 19 at 3:23AM
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 Horizon Commercial Realty, LLC
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Investment Insights
Based on property information with market context.
This hospitality portfolio comprises two properties identified at 311 W Jefferson St and 312 W Main Street. The offering is presented as a combined two-property asset with a reported property size of 8,906.
The properties are positioned between West Main Street and West Jefferson Street, providing proximity to downtown LaGrange and LaGrange Springs Park. Both destinations are described as within walking distance, adding a nearby downtown and park setting to the portfolio’s location profile.
The properties are positioned between West Main Street and West Jefferson Street, providing proximity to downtown LaGrange and LaGrange Springs Park. Both destinations are described as within walking distance, adding a nearby downtown and park setting to the portfolio’s location profile.
Key Highlights
- Two‑property hospitality portfolio
- Reported property size of 8,906
- Includes 311 W Jefferson St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,880
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,600
$837.6K
Cap Rate 7%
$598,286
$598.3K
Cap Rate 9%
$465,333
$465.3K
Market Conditions
NOI Build-Up for 8,906 SF
Gross rent
$117.6K $13.20/SF
− Vacancy
−$29.4K −$3.30/SF
EGI
$88.2K $9.90/SF
− OpEx
−$46.3K −$5.20/SF
NOI
$41.9K $4.70/SF
Area
Oldham County, KY
Vacancy
25.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,600
Cap Rate 7%
$598,286
Cap Rate 9%
$465,333
Alternative Uses
Best Use
Hotel Hospitality
$598.3K
$523.5K – $698.0K
NOI $41,880 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,427 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 40031, KY
25,322
Population
8,507
Households
3
Avg Household Size
40
Median Age
34%
College-Educated
89%
High-School Grad
66.9 sq mi
ZIP Area
379
Density / Sq Mi
$96,682
Median Household Income
$47,046
Median Earnings
$1,120
Median Rent
$316,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hospitality property - Offering includes two hospitality properties between West Main Street and West Jefferson Street, near downtown and LaGrange Springs Park.
Where is this hospitality property located?
The property is located at 311 W Jefferson La Grange, KY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑property hospitality portfolio; Reported property size of 8,906; Includes 311 W Jefferson St
