Mixed-Use Property with
For Sale
$350,000
4001 W Broadway, Louisville, KY 40211
Commercial space houses a dry cleaning and laundry business, with a tenant-occupied apartment above.
Property Size3,906 SF
Price / SF$89.61
Days on Market38
Property Features for 4001 W Broadway
General Information
Standard status
Active
Size
3,906 SF
Total Parking Spaces
4
Property subtype
Other
Zoning
R7
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Additional Details
Business Included
Yes
Road Access
Yes
Amenities
Power
Water
Sewer
Natural Gas
4 Parking Spaces
Building Details
Year Built
1925
Buildings
1
Listing Agency:
RE/MAX Premier Properties
(502) 614-9899
Listed By:
Keren Benabou · License #72524
(502) 614-9899
Source:
Kcrea.resimplifi
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 11:28PM
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 RE/MAX Premier Properties
Investment Insights
Based on property information with market context.
This 3,906-square-foot mixed-use property, built in 1925, combines an established dry cleaning and laundry business with a residential apartment. The commercial area is arranged to support two separate suites, allowing the existing operation to occupy one side while the other can accommodate an additional business. Equipment conveying with the business includes a Firbimatic hydrocarbon dry-cleaning machine, Milnor washer, Cesell dryer, Unipress pressing equipment, form finisher, boiler, air compressor, vacuum pump, spotting board, point-of-sale system, printers, and steam irons.
The upper level contains a tenant-occupied three-bedroom, one-full-bath apartment. The property is located on W Broadway in Louisville, Kentucky, along a heavily traveled commercial corridor. R7 zoning is identified for the site, and the address is 4001 W Broadway, Louisville, KY 40211.
The upper level contains a tenant-occupied three-bedroom, one-full-bath apartment. The property is located on W Broadway in Louisville, Kentucky, along a heavily traveled commercial corridor. R7 zoning is identified for the site, and the address is 4001 W Broadway, Louisville, KY 40211.
Key Highlights
- 3,906‑square‑foot mixed‑use property built in 1925
- Established dry cleaning and laundry business included
- Commercial area can be configured as two separate suites
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
$26,582
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
7.59%
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%
$531,640
$531.6K
Cap Rate 7%
$379,743
$379.7K
Cap Rate 9%
$295,356
$295.4K
Market Conditions
NOI Build-Up for 3,906 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
$51.1K $13.08/SF
− Vacancy
−$2.8K −$0.71/SF
EGI
$48.3K $12.37/SF
− OpEx
−$21.7K −$5.57/SF
NOI
$26.6K $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 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%
$531,640
Cap Rate 7%
$379,743
Cap Rate 9%
$295,356
Alternative Uses
Best Use
Mixed Use
$662.9K
$580.0K – $773.4K
NOI $46,403 @ 7.0% cap · market cap 13.26%
Second Best
Retail
$643.3K
$562.9K – $750.5K
NOI $45,032 @ 7.0% cap · market cap 12.87%
Theoretical Best
Office A
$1.01M
$885.9K – $1.18M
NOI $70,870 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
Median Home Value
Market
Vacancy Rate% for Retail 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 - Commercial space houses a dry cleaning and laundry business, with a tenant-occupied apartment above.
Where is this mixed-use property located?
The property is located at 4001 W Broadway Louisville, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,906‑square‑foot mixed‑use property built in 1925; Established dry cleaning and laundry business included; Commercial area can be configured as two separate suites
