Medical Office Building with Therapy
For Sale
$595,000
Pending
4430 Crawford Ave, Louisville, KY 40258
Updated interiors and a functional configuration support treatment, office, reception, and open therapy areas.
Property Size3,702 SF
Days on Market175
Property Features for 4430 Crawford Ave
General Information
Standard status
Pending
Size
3,702 SF
Property subtype
Healthcare
Zoning
C1
Listing Agency:
Hoagland Commercial Realtors
(502) 664-5277
Listed By:
Zachary Swanson · License #76272
(502) 664-5277
Source:
Kcrea.resimplifi
Added: Mar 9
Changed: Aug 29
Last Checked: Aug 29 at 11:36AM
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 Hoagland Commercial Realtors
Investment Insights
Based on property information with market context.
This 3,702-square-foot medical and professional office building has served as a physical rehabilitation clinic for more than 25 years. The interior includes treatment rooms, private offices, reception space, and an open therapy area, with updated finishes throughout. The configuration can accommodate medical, therapy, wellness, or professional office operations.
Located at 4430 Crawford Avenue in Louisville, the property sits within the Dixie Highway corridor and the Southwest Louisville submarket. Panera Bread, PNC Bank, Qdoba Mexican Eats, and Home Depot are among the surrounding amenities, providing nearby services for employees and clients. The established layout and existing medical-office configuration offer a practical setting for continued healthcare or professional use.
Located at 4430 Crawford Avenue in Louisville, the property sits within the Dixie Highway corridor and the Southwest Louisville submarket. Panera Bread, PNC Bank, Qdoba Mexican Eats, and Home Depot are among the surrounding amenities, providing nearby services for employees and clients. The established layout and existing medical-office configuration offer a practical setting for continued healthcare or professional use.
Key Highlights
- 3,702 SF medical and professional office building
- Operated as a physical rehabilitation clinic for 25+ years
- Includes treatment rooms, private offices, reception, and open therapy space
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
$47,978
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
8.06%
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%
$959,560
$959.6K
Cap Rate 7%
$685,400
$685.4K
Cap Rate 9%
$533,089
$533.1K
Market Conditions
NOI Build-Up for 3,702 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
$88.8K $24.00/SF
− Vacancy
−$8.9K −$2.40/SF
EGI
$80.0K $21.60/SF
− OpEx
−$32.0K −$8.64/SF
NOI
$48.0K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$959,560
Cap Rate 7%
$685,400
Cap Rate 9%
$533,089
Alternative Uses
Best Use
Healthcare Medical
$685.4K
$599.7K – $799.6K
NOI $47,978 @ 7.0% cap · market cap 8.06%
Second Best
Office B
$683.0K
$597.6K – $796.9K
NOI $47,811 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$959.6K
$839.6K – $1.12M
NOI $67,169 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40258, KY
26,807
Population
11,568
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
88%
High-School Grad
11.7 sq mi
ZIP Area
2,291
Density / Sq Mi
$66,263
Median Household Income
$42,525
Median Earnings
$1,146
Median Rent
$173,100
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated interiors and a functional configuration support treatment, office, reception, and open therapy areas.
Where is this medical office space located?
The property is located at 4430 Crawford Ave Louisville, KY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,702 SF medical and professional office building; Operated as a physical rehabilitation clinic for 25+ years; Includes treatment rooms, private offices, reception, and open therapy space
