Two-Tenant Office
For Sale
$3,500,000
4710 Champions Trace Ln, Louisville, KY 40218
C2-zoned office property occupied by two tenants under leases extending into 2027 and 2029.
Property Size22,347 SF
Price / SF$156.62
Days on Market152
Property Features for 4710 Champions Trace Ln
General Information
Standard status
Active
Size
22,347 SF
Property subtype
Investment
Zoning
C2
Occupancy
100%
Net Operating Income
$238,556
Building Details
Year Built
2007
Buildings
1
Building Size
22,347 SF
Tenancy
Multi
Listing Agency:
Bohannon Commercial Properties
(502) 817-1646
Listed By:
Barry Bohannon · License #30679
(502) 817-1646
Source:
Kcrea.resimplifi
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 26 at 12:18PM
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 Bohannon Commercial Properties
Investment Insights
Based on property information with market context.
This 22,347-square-foot office building was constructed in 2007 and is configured for two occupants. The property is fully leased to Seven Counties and the Department of Corrections’ Probation Office, providing an established occupancy profile.
Seven Counties occupies 9,587 SF under a lease running through 6/30/29. The Department of Corrections occupies 10,542 SF with its current lease extending through 11/30/27. The property is zoned C2 and is located at 4710 Champions Trace Ln in Louisville, Kentucky.
Seven Counties occupies 9,587 SF under a lease running through 6/30/29. The Department of Corrections occupies 10,542 SF with its current lease extending through 11/30/27. The property is zoned C2 and is located at 4710 Champions Trace Ln in Louisville, Kentucky.
Key Highlights
- 22,347‑square‑foot office building constructed in 2007
- Fully leased to Seven Counties and the Department of Corrections’ Probation Office
- Seven Counties occupies 9,587 SF through 6/30/29
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
$288,612
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
8.25%
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%
$5,772,240
$5.8M
Cap Rate 7%
$4,123,029
$4.1M
Cap Rate 9%
$3,206,800
$3.2M
Market Conditions
NOI Build-Up for 22,347 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
$469.3K $21.00/SF
− Vacancy
−$84.5K −$3.78/SF
EGI
$384.8K $17.22/SF
− OpEx
−$96.2K −$4.31/SF
NOI
$288.6K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /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%
$5,772,240
Cap Rate 7%
$4,123,029
Cap Rate 9%
$3,206,800
Alternative Uses
Best Use
Office B
$4.12M
$3.61M – $4.81M
NOI $288,612 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.76M
NOI $405,464 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
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
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C2-zoned office property occupied by two tenants under leases extending into 2027 and 2029.
Where is this office building located?
The property is located at 4710 Champions Trace Ln Louisville, KY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 22,347‑square‑foot office building constructed in 2007; Fully leased to Seven Counties and the Department of Corrections’ Probation Office; Seven Counties occupies 9,587 SF through 6/30/29
