Mixed-Use Property with
For Sale
$204,900
3715 Dixie Hwy, Louisville, KY 40216
Flexible two-level layout with basement space, covered deck, pond, and detached two-car garage.
Property Size1,300 SF
Price / SF$157.62
Days on Market96
Property Features for 3715 Dixie Hwy
General Information
Standard status
Active
Size
1,300 SF
Total Parking Spaces
2
Property subtype
Office
Zoning
C1
Amenities
Vacant
Building Details
Year Built
1919
Listing Agency:
Collective Roots Agency
(812) 589-9312
Listed By:
Andrea Murphy · License #243463
(812) 589-9312
Source:
Kcrea.resimplifi
Added: May 30
Changed: Aug 31
Last Checked: Sep 1 at 2:28PM
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 Collective Roots Agency
Investment Insights
Based on property information with market context.
This 1,300-square-foot mixed-use property at 3715 Dixie Hwy in Louisville combines a residential layout with adaptable interior space. Built in 1919, the home includes one large bedroom on the main floor and a second bedroom upstairs. Interior cosmetic improvements have refreshed the property while retaining original character.
The unfinished basement has its own entrance, an additional unfinished bedroom, an unfinished bathroom and laundry area, plus open space for future configuration. Exterior features include a covered deck, pond, large backyard, and two-car garage. The property has been used as a primary residence and is presented as suitable for live-work use, office conversion, or continued residential occupancy, subject to applicable requirements.
The unfinished basement has its own entrance, an additional unfinished bedroom, an unfinished bathroom and laundry area, plus open space for future configuration. Exterior features include a covered deck, pond, large backyard, and two-car garage. The property has been used as a primary residence and is presented as suitable for live-work use, office conversion, or continued residential occupancy, subject to applicable requirements.
Key Highlights
- 1,300 SF property built in 1919
- Main‑floor bedroom plus second bedroom upstairs
- Unfinished basement with separate entrance and additional unfinished bedroom
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
$17,550
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
8.57%
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%
$351,000
$351.0K
Cap Rate 7%
$250,714
$250.7K
Cap Rate 9%
$195,000
$195.0K
Market Conditions
NOI Build-Up for 1,300 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
$31.2K $24.00/SF
− Vacancy
−$3.1K −$2.40/SF
EGI
$28.1K $21.60/SF
− OpEx
−$10.5K −$8.10/SF
NOI
$17.6K $13.50/SF
Area
ZIP 40216
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$351,000
Cap Rate 7%
$250,714
Cap Rate 9%
$195,000
Alternative Uses
Best Use
Mixed Use
$250.7K
$219.4K – $292.5K
NOI $17,550 @ 7.0% cap · market cap 8.57%
Second Best
Office B
$246.7K
$215.9K – $287.8K
NOI $17,269 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$333.4K
$291.7K – $389.0K
NOI $23,338 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 40216, KY
43,434
Population
19,257
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
15.7 sq mi
ZIP Area
2,766
Density / Sq Mi
$50,211
Median Household Income
$35,503
Median Earnings
$883
Median Rent
$154,500
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible two-level layout with basement space, covered deck, pond, and detached two-car garage.
Where is this mixed-use property located?
The property is located at 3715 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $204,900.
What are key features of this property?
This property features: 1,300 SF property built in 1919; Main‑floor bedroom plus second bedroom upstairs; Unfinished basement with separate entrance and additional unfinished bedroom
