Flex Compound with Inner
For Sale
$1,699,000
326 E Bloom St, Louisville, KY 40208
Three-building flex property with office amenities, equipment clearance, and EZ1 zoning near the University of Louisville.
Property Size11,500 SF
Price / SF$147.74
Days on Market207
Property Features for 326 E Bloom St
General Information
Standard status
Active
Size
11,500 SF
Property subtype
Other
Zoning
EZ1
Warehouse & Industrial
Clear Height
17 ft
Office Build-Out
1,500 SF
Amenities
full kitchen
2 half baths
shower
Power
Water
Sewer
Natural Gas
Building Details
Buildings
3
Listing Agency:
Kentucky Select Properties
(502) 376-1083
Listed By:
Nanette Tafel · License #190189
(502) 376-1083
Source:
Kcrea.resimplifi
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 1:09PM
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 Kentucky Select Properties
Investment Insights
Based on property information with market context.
This flex property comprises three buildings arranged around an inner courtyard, creating a defined compound for commercial operations. The improvements include approximately 1,500 square feet of office area with a full kitchen, two half baths, and a shower. Entrance and hangar-door clearances reach 17 feet, accommodating larger equipment and storage needs.
The property is located at 326 E Bloom St in Louisville, adjacent to the University of Louisville. EZ1 zoning supports the property’s industrial-oriented configuration, with existing features suited to warehousing, manufacturing, studio, and live/work applications.
The property is located at 326 E Bloom St in Louisville, adjacent to the University of Louisville. EZ1 zoning supports the property’s industrial-oriented configuration, with existing features suited to warehousing, manufacturing, studio, and live/work applications.
Key Highlights
- Three‑building flex compound organized around an inner courtyard
- Approximately 1,500sf of office space with full kitchen, two half baths, and a shower
- 17‑foot clearance at the entrance and hangar doors
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
$148,523
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
8.74%
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%
$2,970,460
$3.0M
Cap Rate 7%
$2,121,757
$2.1M
Cap Rate 9%
$1,650,256
$1.7M
Market Conditions
NOI Build-Up for 11,500 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
$241.5K $21.00/SF
− Vacancy
−$43.5K −$3.78/SF
EGI
$198.0K $17.22/SF
− OpEx
−$49.5K −$4.31/SF
NOI
$148.5K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,970,460
Cap Rate 7%
$2,121,757
Cap Rate 9%
$1,650,256
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,523 @ 7.0% cap · market cap 8.74%
Second Best
Mixed Use
$1.95M
$1.71M – $2.28M
NOI $136,620 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
Location Intelligence
Trade Area within ½ mile
905
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 Office in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Three-building flex property with office amenities, equipment clearance, and EZ1 zoning near the University of Louisville.
Where is this flex space located?
The property is located at 326 E Bloom St Louisville, KY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Three‑building flex compound organized around an inner courtyard; Approximately 1,500sf of office space with full kitchen, two half baths, and a shower; 17‑foot clearance at the entrance and hangar doors
