3-Unit Flex Space
For Sale
Contact for pricing
3264 Ruckriegel Parkway, Jeffersontown, KY 40299
Three office-warehouse condominiums combine adaptable workspace with warehouse functionality and an existing leased component.
Property Size8,643 SF
Price / SF$127.24
Days on Market43
Property Features for 3264 Ruckriegel Parkway
General Information
Standard status
Active
Size
8,643 SF
Class
A
Total Parking Spaces
24
Property subtype
Industrial, Office, Mixed Use
Zoning
PEC
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$112,359
Additional Details
Office Units
3
Building Details
Year Built
1987
Buildings
3
Units
3
Tenancy
Multi
Listing Agency:
The Agency Louisville
(502) 649-5181
Listed By:
Jason Farabee · License #KY 276464
Source:
Crexi
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 3:12AM
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 The Agency Louisville
Investment Insights
Based on property information with market context.
This offering includes three office-warehouse condominiums totaling approximately 8,643 square feet. The portfolio combines office areas with warehouse-capable space, providing a flexible commercial configuration within a single acquisition. The improvements date to 1987 and are located at 3264 Ruckriegel Parkway in Jeffersontown, Kentucky.
One property is currently leased, while Units 3260 and 3262 are scheduled to become available for owner occupancy or leasing beginning August 1, 2026. The assets are zoned PEC, and the combined layout supports both administrative and warehouse-oriented functions.
One property is currently leased, while Units 3260 and 3262 are scheduled to become available for owner occupancy or leasing beginning August 1, 2026. The assets are zoned PEC, and the combined layout supports both administrative and warehouse-oriented functions.
Key Highlights
- Three office‑warehouse condominiums totaling approximately 8,643 square feet
- Units 3260 and 3262 scheduled for availability beginning August 1, 2026
- Existing leased property included in the portfolio
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
$81,067
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
7.37%
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%
$1,621,340
$1.6M
Cap Rate 7%
$1,158,100
$1.2M
Cap Rate 9%
$900,744
$900.7K
Market Conditions
NOI Build-Up for 8,643 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
$134.8K $15.60/SF
− Vacancy
−$10.1K −$1.17/SF
EGI
$124.7K $14.43/SF
− OpEx
−$43.7K −$5.05/SF
NOI
$81.1K $9.38/SF
Area
ZIP 40299
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,621,340
Cap Rate 7%
$1,158,100
Cap Rate 9%
$900,744
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,057 @ 7.0% cap · market cap 9.28%
Second Best
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $81,067 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,106 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Three office-warehouse condominiums combine adaptable workspace with warehouse functionality and an existing leased component.
Where is this flex space located?
The property is located at 3264 Ruckriegel Parkway Jeffersontown, KY.
What is the asking price?
The asking price for this property is $1,099,700.
What are key features of this property?
This property features: Three office‑warehouse condominiums totaling approximately 8,643 square feet; Units 3260 and 3262 scheduled for availability beginning August 1, 2026; Existing leased property included in the portfolio
