Equipped Restaurant with Outdoor
For Sale
$500,000
4123 Flintlock Dr, Louisville, KY 40216
Includes a commercial kitchen, bar infrastructure, and enclosed rear patio.
Property Size2,278 SF
Price / SF$219.49
Days on Market54
Property Features for 4123 Flintlock Dr
General Information
Standard status
Active
Size
2,278 SF
Property subtype
Retail
Zoning
M2
Amenities
Power
Water
Sewer
Natural Gas
Vacant
Building Details
Year Built
1962
Listing Agency:
Keller Williams Collective
(502) 403-0754
Listed By:
Bejoy Koshy
(502) 403-0754
Source:
Kcrea.resimplifi
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 12:43PM
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 Keller Williams Collective
Investment Insights
Based on property information with market context.
This 2,278-square-foot conventional restaurant property includes an established food-and-beverage layout with commercial kitchen and bar infrastructure. Equipment includes an exhaust hood, deep fryers, flat-top grill, reach-in coolers, walk-in cold storage, bar refrigeration, draft beer service, back-bar displays, and television mounts. A dedicated interior area accommodates skill gaming machines, gaming tables, and bar seating.
The enclosed rear concrete patio provides picnic seating and includes a heavy-duty trailer-mounted smoker grill. Built in 1962, the property is positioned near the Dixie Highway commercial corridor in Louisville and carries M2 Industrial zoning. The existing improvements support restaurant, bar, entertainment, and commercial food-preparation functions within the current configuration.
The enclosed rear concrete patio provides picnic seating and includes a heavy-duty trailer-mounted smoker grill. Built in 1962, the property is positioned near the Dixie Highway commercial corridor in Louisville and carries M2 Industrial zoning. The existing improvements support restaurant, bar, entertainment, and commercial food-preparation functions within the current configuration.
Key Highlights
- 2,278 SF conventional restaurant property
- M2 Industrial zoning
- Commercial exhaust hood, deep fryers, flat‑top grill, and cold‑storage equipment
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
$32,762
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
6.55%
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%
$655,240
$655.2K
Cap Rate 7%
$468,029
$468.0K
Cap Rate 9%
$364,022
$364.0K
Market Conditions
NOI Build-Up for 2,278 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
$46.5K $20.40/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$43.7K $19.18/SF
− OpEx
−$10.9K −$4.79/SF
NOI
$32.8K $14.38/SF
Area
ZIP 40216
Vacancy
6.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$655,240
Cap Rate 7%
$468,029
Cap Rate 9%
$364,022
Alternative Uses
Best Use
Specialty Retail
$468.0K
$409.5K – $546.0K
NOI $32,762 @ 7.0% cap · market cap 6.55%
Second Best
Industrial
$196.6K
$172.0K – $229.4K
NOI $13,763 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$584.2K
$511.2K – $681.6K
NOI $40,895 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
270k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 18%
Groceries 15%
Home Improvements & Furnishings 14%
Chick-fil-A
Dining
46,852 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
41,641 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
34,662 visits/mo
0.4 miles
Raising Cane's Chicken Fingers
Dining
26,986 visits/mo
0.2 miles
Big Lots
Superstores
21,396 visits/mo
0.5 miles
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 Retail in Louisville, KY
Questions? Ask Rey
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Similar Off Market Nearby
- Umami Buffet — 5362 Dixie Hwy, Louisville, KY 40216
- Hibachi Buffet — 5372 Dixie Hwy, Louisville, KY 40216
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a commercial kitchen, bar infrastructure, and enclosed rear patio.
Where is this conventional restaurant located?
The property is located at 4123 Flintlock Dr Louisville, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,278 SF conventional restaurant property; M2 Industrial zoning; Commercial exhaust hood, deep fryers, flat‑top grill, and cold‑storage equipment
