Building Details

Building Size 19,188 SF

Units 17

Listing Agency: Hoagland Commercial Realtors

Listed By: Chapman Silander · License #252813 Show Phone

Source: Commercialcafe

Added: Sep 1 Changed: Oct 25 Last Checked: Oct 28 at 5:04AM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This multifamily property is located at 3815 Grandview Avenue in Saint Matthews, Kentucky. The site is positioned near Shelbyville Road, Breckenridge Lane, and I-264, providing access to key roads serving the area.

The surrounding setting includes restaurants, retailers, professional services, and residential neighborhoods. Its Saint Matthews location places the property within an established commercial area of Louisville.

Key Highlights

• Multifamily property at 3815 Grandview Avenue
• Located in Saint Matthews, Kentucky
• Near Shelbyville Road, Breckenridge Lane, and I‑264

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,584

Cap Rate

6.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,680 $2.6M

Cap Rate 7%

$1,865,486 $1.9M

Cap Rate 9%

$1,450,933 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,188 SF

Gross rent

$251.0K $13.08/SF

− Vacancy

−$13.6K −$0.71/SF

EGI

$237.4K $12.37/SF

− OpEx

−$106.8K −$5.57/SF

NOI

$130.6K $6.81/SF

Area

Louisville, KY

Vacancy

5.40%

Lease Rate

$13.08 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,680

Cap Rate 7%

$1,865,486

Cap Rate 9%

$1,450,933

Alternative Uses

Best Use

Apartment 5plus

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,584 @ 7.0% cap · market cap 6.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.97M

$4.35M – $5.80M (±1% cap)

NOI $348,147 @ 7.0% cap · market cap 16.07%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,566

Businesses Nearby

Explore this area Business Placement

Demographics for 40207, KY

30,104

Population

14,507

Households

2.1

Avg Household Size

43

Median Age

68%

College-Educated

98%

High-School Grad

11.7 sq mi

ZIP Area

2,573

Density / Sq Mi

$98,583

Median Household Income

$59,242

Median Earnings

$1,248

Median Rent

$401,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Multifamily property - Situated near retail, dining, professional services, and established residential neighborhoods.

Where is this multifamily property located?

The property is located at 3815 Grandview Avenue Saint Matthews, KY.

What is the asking price?

The asking price for this property is $2,166,161.

What are key features of this property?

This property features: Multifamily property at 3815 Grandview Avenue; Located in Saint Matthews, Kentucky; Near Shelbyville Road, Breckenridge Lane, and I‑264