Listing Agency: Louisville

Listed By: Jenny Johnston · License #246944 Show Phone

Source: Colliers

Added: Apr 15 Changed: Oct 21 Last Checked: Oct 20 at 5:08PM

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Investment Insights

Based on property information with market context.

This freestanding 11,550 SF former Napa Auto Parts store is offered for sale or lease. The property includes a 1,200 SF showroom with two restrooms and new HVAC. The warehouse area offers approximately 12' clear height, two overhead doors, and a crane, with partial LED lighting in place. The metal roof was coated three years ago.

The property is zoned C-1 and provides ample parking for visitors and staff. Two overhead doors support practical receiving and distribution operations.

Available as a combined showroom and warehouse configuration, the building provides dedicated office/showroom space alongside industrial functionality within the same facility.

Key Highlights

• Freestanding 11,550 SF former Napa Auto Parts store available for sale or lease
• C‑1 zoned property with a 1,200 SF showroom featuring two restrooms
• Warehouse offers approx. 12' clear heights and two overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$69,127

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,382,540 $1.4M

Cap Rate 7%

$987,529 $987.5K

Cap Rate 9%

$768,078 $768.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 11,550 SF

Gross rent

$104.0K $9.00/SF

− Vacancy

−$5.2K −$0.45/SF

EGI

$98.8K $8.55/SF

− OpEx

−$29.6K −$2.56/SF

NOI

$69.1K $5.98/SF

Area

Louisville, KY

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,382,540

Cap Rate 7%

$987,529

Cap Rate 9%

$768,078

Alternative Uses

Best Use

Flex RnD

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,730 @ 7.0% cap · market cap 906.75%

Second Best

Warehouse

$1.33M

$1.17M – $1.56M (±1% cap)

NOI $93,382 @ 7.0% cap · market cap 808.50%

Theoretical Best

Office A

$2.99M

$2.62M – $3.49M (±1% cap)

NOI $209,563 @ 7.0% cap · market cap 1,814.40%

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

Property Analytics

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Current Use

NAPA Auto Parts Auto Parts Store

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Gym & Fitness Center Garden Center Skin Care Clinic

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

12 ft

Clear height

Location Intelligence

Trade Area within ½ mile

578

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 40219, KY

40,300

Population

16,699

Households

2.4

Avg Household Size

37

Median Age

20%

College-Educated

87%

High-School Grad

14.9 sq mi

ZIP Area

2,705

Density / Sq Mi

$52,271

Median Household Income

$37,108

Median Earnings

$967

Median Rent

$186,000

Median Home Value

Market

Vacancy Rate% for Industrial in Louisville, KY

5.1% 2019

4.7% 2020

1.7% 2021

3.9% 2022

3.9% 2023

3.6% 2024

3.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Freestanding former auto parts store with a showroom, warehouse with overhead doors, crane, and C-1 zoning.

Where is this flex space located?

The property is located at 3612 Fern Valley Rd Louisville, KY.

What are key features of this property?

This property features: Freestanding 11,550 SF former Napa Auto Parts store available for sale or lease; C‑1 zoned property with a 1,200 SF showroom featuring two restrooms; Warehouse offers approx. 12' clear heights and two overhead doors