Flex Space with Drive-In
For Sale
$2,050,000
4524 Bishop Ln, Louisville, KY 40218
The building combines warehouse, shop, and office areas, with both finished and unfinished floor space.
Property Size19,311 SF
Price / SF$106.16
Days on Market26
Property Features for 4524 Bishop Ln
General Information
Standard status
Active
Size
19,311 SF
Property subtype
Industrial
Zoning
M3
Warehouse & Industrial
Clear Height
21 ft
Warehouse Space
8,245 SF
Office Build-Out
3,934 SF
Drive-In Doors
2
Power
800 amps
Voltage
240 V
Three-Phase Power
Yes
Additional Details
Road Access
Yes
Property Use
Flex Space
Building Details
Buildings
1
Stories
2
Listing Agency:
Colliers
Listed By:
Reed Weinberg · License #60187
(502) 299-0548
Source:
Kcrea.resimplifi
Added: Oct 2
Changed: Oct 26
Last Checked: Oct 26 at 2:44PM
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 Colliers
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Investment Insights
Based on property information with market context.
This flex property contains approximately 19,311 square feet across a 15,377-square-foot footprint and a 3,934-square-foot second floor. The layout includes approximately 8,245 square feet of warehouse area, 2,008 square feet of shop space, 1,190 square feet of open shop area, and 3,934 square feet of finished first-floor office space. The second floor has 3,934 square feet of unfinished area. Two drive-in doors measure 12 feet and 14 feet, and clear height ranges from 18 to 21 feet. Electrical capacity totals 800 amps through two 400-amp, three-phase, 240-volt feeds. A 3,467-square-foot mezzanine with concrete flooring is excluded from the stated building area.
The property has a driveway directly off Bishop Lane and a lot that accommodates parking and truck maneuvering. It is near I-264, the airport, and UPS Worldport. Zoning is M3.
The property has a driveway directly off Bishop Lane and a lot that accommodates parking and truck maneuvering. It is near I-264, the airport, and UPS Worldport. Zoning is M3.
Key Highlights
- Approximately 19,311 square feet, including a 15,377‑square‑foot footprint and 3,934‑square‑foot second floor
- Warehouse, shop, open shop, and finished office areas; 3,934 square feet of second‑floor space is unfinished
- Two drive‑in doors: 12 feet and 14 feet; 18–21 feet of clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,102
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,502,040
$3.5M
Cap Rate 7%
$2,501,457
$2.5M
Cap Rate 9%
$1,945,578
$1.9M
Market Conditions
NOI Build-Up for 19,311 SF
Gross rent
$289.7K $15.00/SF
− Vacancy
−$20.3K −$1.05/SF
EGI
$269.4K $13.95/SF
− OpEx
−$94.3K −$4.88/SF
NOI
$175.1K $9.07/SF
Area
Louisville, KY
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,502,040
Cap Rate 7%
$2,501,457
Cap Rate 9%
$1,945,578
Alternative Uses
Best Use
Flex RnD
$2.50M
$2.19M – $2.92M
NOI $175,102 @ 7.0% cap · market cap 8.54%
Second Best
Warehouse
$2.23M
$1.95M – $2.60M
NOI $156,130 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,379 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
21 ft
Clear height
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40218, KY
33,437
Population
14,697
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
89%
High-School Grad
9.0 sq mi
ZIP Area
3,715
Density / Sq Mi
$56,191
Median Household Income
$35,784
Median Earnings
$1,059
Median Rent
$195,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Louisville, KY
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - The building combines warehouse, shop, and office areas, with both finished and unfinished floor space.
Where is this flex space located?
The property is located at 4524 Bishop Ln Louisville, KY.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Approximately 19,311 square feet, including a 15,377‑square‑foot footprint and 3,934‑square‑foot second floor; Warehouse, shop, open shop, and finished office areas; 3,934 square feet of second‑floor space is unfinished; Two drive‑in doors: 12 feet and 14 feet; 18–21 feet of clear height
