C2 Wedding and Event
For Sale
$750,000
4404 Cane Run Rd, Louisville, KY 40216
C2-zoned event property with an adjacent lot, rental homes, billboard, and expansion-oriented site features.
Property Size4,000 SF
Price / SF$187.50
Days on Market913
Property Features for 4404 Cane Run Rd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail
Zoning
C2
Amenities
Power
Water
Sewer
Listing Agency:
The Dattilo Realty Company
(502) 939-0106
Listed By:
Kimberly Dattilo
(502) 939-0106
Source:
Kcrea.resimplifi
Added: Feb 29, 2024
Changed: Aug 29
Last Checked: Aug 30 at 1:12PM
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 The Dattilo Realty Company
Investment Insights
Based on property information with market context.
This 4,000-square-foot C2 property combines an event space with an adjacent vacant lot included in the same offering. The interior is configured for weddings, parties, corporate events, and community rentals, with stated potential for retail conversion. A vacant second-floor apartment offers an additional improvement opportunity, while two garages and deep lots support storage or future expansion.
The offering also includes two R4 rental properties with month-to-month leases, along with billboard income. The adjacent lot may support new construction, build-to-suit plans, parking, storage, or future leasing. Located at 4404 Cane Run Rd in Louisville, Kentucky, the property is positioned on a heavily traveled corridor identified in the listing as undergoing commercial and industrial development.
The offering also includes two R4 rental properties with month-to-month leases, along with billboard income. The adjacent lot may support new construction, build-to-suit plans, parking, storage, or future leasing. Located at 4404 Cane Run Rd in Louisville, Kentucky, the property is positioned on a heavily traveled corridor identified in the listing as undergoing commercial and industrial development.
Key Highlights
- 4,000 SF C2 event space at 4404 Cane Run Rd, Louisville, KY 40216
- Adjacent C2 vacant lot included in the same purchase
- Two R4 income‑producing rentals with month‑to‑month leases
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
$49,728
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
6.63%
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%
$994,560
$994.6K
Cap Rate 7%
$710,400
$710.4K
Cap Rate 9%
$552,533
$552.5K
Market Conditions
NOI Build-Up for 4,000 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
$76.8K $19.20/SF
− Vacancy
−$5.8K −$1.44/SF
EGI
$71.0K $17.76/SF
− OpEx
−$21.3K −$5.33/SF
NOI
$49.7K $12.43/SF
Area
ZIP 40216
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
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%
$994,560
Cap Rate 7%
$710,400
Cap Rate 9%
$552,533
Alternative Uses
Best Use
Retail
$710.4K
$621.6K – $828.8K
NOI $49,728 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$897.6K – $1.20M
NOI $71,808 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 45%
Apparel 7%
McDonald's
Dining
24,559 visits/mo
0.3 miles
Thorntons
Shops & Services
23,544 visits/mo
0.5 miles
Roses Discount Store
Shops & Services
14,193 visits/mo
0.1 miles
Dollar Tree
Shops & Services
11,433 visits/mo
0.2 miles
Speedway
Shops & Services
9,775 visits/mo
0.0 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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Frequently Asked Questions
What type of property is this?
Wedding venue - C2-zoned event property with an adjacent lot, rental homes, billboard, and expansion-oriented site features.
Where is this wedding venue located?
The property is located at 4404 Cane Run Rd Louisville, KY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,000 SF C2 event space at 4404 Cane Run Rd, Louisville, KY 40216; Adjacent C2 vacant lot included in the same purchase; Two R4 income‑producing rentals with month‑to‑month leases
