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Building Details

Year Built 1987

Buildings 3

Units 3

Tenancy Multi

Listing Agency: The Agency Louisville

Listed By: Jason Farabee · License #KY 276464 Show Phone

Source: Crexi

Added: Jul 20 Changed: Oct 3 Last Checked: Oct 14 at 9:58PM

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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.

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 / Yr

$81,067

Cap Rate

7.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,621,340 $1.6M

Cap Rate 7%

$1,158,100 $1.2M

Cap Rate 9%

$900,744 $900.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,643 SF

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 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 (±1% cap)

NOI $102,057 @ 7.0% cap · market cap 9.28%

Second Best

Flex RnD

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,067 @ 7.0% cap · market cap 7.37%

Theoretical Best

Office A

$2.12M

$1.85M – $2.47M (±1% cap)

NOI $148,106 @ 7.0% cap · market cap 13.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Spa & Massage Center Law Firm Parking Lot & Garage Skin Care Clinic Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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