Apartment Building with 94
4300 Norbrook Drive Louisville, KY 40218
4300 Norbrook Drive, Louisville, KY, 40218
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For Sale
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94-unit apartment community with 71 one-bedroom and 23 two-bedroom units in Louisville’s Buechel submarket.
Property Size51,420 SF
Price / SF$151.69
Days on Market8
Property Features for 4300 Norbrook Drive
General Information
- Standard status
- Active
- Size
- 51,420 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing Agency
Marcus & Millichap - Louisville
Listed by
David Badgett · License #215224
Source
Crexi
Added: Jul 11 Checked: Jul 17 at 11:55 am
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 Marcus & Millichap - Louisville
Investment Insights
Based on property information with market context.
Norbrook Arms Apartments is a 94-unit multifamily property made up of 71 one-bedroom units and 23 two-bedroom units. The community offers a diversified unit mix designed to serve a range of renter needs.
The property is located at 4300 Norbrook Drive in the Buechel submarket, off Bardstown Road, one of Louisville’s most accessible and established rental corridors.
The property is located at 4300 Norbrook Drive in the Buechel submarket, off Bardstown Road, one of Louisville’s most accessible and established rental corridors.
Key Highlights
- 94‑unit apartment community (built in 1971) in Louisville’s Buechel submarket
- Unit mix includes 71 one‑bedroom units and 23 two‑bedroom units
- Located off Bardstown Road in a well‑established rental corridor
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $672.6k | $13.08 |
| − Vacancy | −$36.3k | −$0.71 |
| EGI | $636.3k | $12.37 |
| − OpEx | −$286.3k | −$5.57 |
| NOI | $349.9k | $6.81 |
51,420 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.00M
$4.37M – $5.83M
NOI $349,940 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.33M
$11.66M – $15.55M
NOI $932,964 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Norbrook Arms Apartments
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 94-unit apartment community with 71 one-bedroom and 23 two-bedroom units in Louisville’s Buechel submarket.
Where is this apartment building located?
The property is located at 4300 Norbrook Drive Louisville, KY.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: 94‑unit apartment community (built in 1971) in Louisville’s Buechel submarket; Unit mix includes 71 one‑bedroom units and 23 two‑bedroom units; Located off Bardstown Road in a well‑established rental corridor
