Mixed-Use Property with
New
For Sale
$800,000
4735 Rockford Plaza, Louisville, KY 40216
C-1-zoned property combines a first-floor laundry business configuration with three upstairs two-bedroom apartments.
Property Size4,864 SF
Lot Size0.17 Acres
Price / SF$164.47
Days on Market6
Property Features for 4735 Rockford Plaza
General Information
Standard status
Active
Size
4,864 SF
Total Parking Spaces
9
Lot size
0.17 Acres
Property subtype
Multifamily
Zoning
C1
Amenities
Power
Water
Natural Gas
9 Parking Spaces
Building Details
Year Built
1963
Buildings
1
Stories
2
Listing Agency:
Homepage Realty
Listed By:
Nima Asgari
(502) 751-4251
Source:
Kcrea.resimplifi
Added: Sep 3
Changed: Sep 7
Last Checked: Sep 8 at 4:40AM
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 Homepage Realty
Investment Insights
Based on property information with market context.
Built in 1963, this approximately 4,864-square-foot mixed-use property places commercial and residential components within the same building. The first floor is configured for a laundromat and includes commercial laundry equipment from Electrolux and Maytag. The upper level contains three separate apartments, each with two bedrooms and one bathroom.
The property occupies approximately 0.17 acres at 4735 Rockford Plaza in Louisville, Kentucky. C-1 zoning supports neighborhood commercial use, subject to applicable regulations and approvals. Its setting includes nearby residential neighborhoods, major roads, and surrounding businesses, while the combination of laundry infrastructure and residential units provides distinct commercial and rental components.
The property occupies approximately 0.17 acres at 4735 Rockford Plaza in Louisville, Kentucky. C-1 zoning supports neighborhood commercial use, subject to applicable regulations and approvals. Its setting includes nearby residential neighborhoods, major roads, and surrounding businesses, while the combination of laundry infrastructure and residential units provides distinct commercial and rental components.
Key Highlights
- Approximately 4,864 SF building on an approximately 0.17‑acre site
- C‑1 commercial zoning
- First‑floor laundromat configuration with commercial Electrolux and Maytag equipment
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
$65,664
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
8.21%
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%
$1,313,280
$1.3M
Cap Rate 7%
$938,057
$938.1K
Cap Rate 9%
$729,600
$729.6K
Market Conditions
NOI Build-Up for 4,864 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
$116.7K $24.00/SF
− Vacancy
−$11.7K −$2.40/SF
EGI
$105.1K $21.60/SF
− OpEx
−$39.4K −$8.10/SF
NOI
$65.7K $13.50/SF
Area
ZIP 40216
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,313,280
Cap Rate 7%
$938,057
Cap Rate 9%
$729,600
Alternative Uses
Best Use
Mixed Use
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 8.21%
Second Best
Retail
$863.8K
$755.9K – $1.01M
NOI $60,469 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,319 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-1-zoned property combines a first-floor laundry business configuration with three upstairs two-bedroom apartments.
Where is this mixed-use property located?
The property is located at 4735 Rockford Plaza Louisville, KY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Approximately 4,864 SF building on an approximately 0.17‑acre site; C‑1 commercial zoning; First‑floor laundromat configuration with commercial Electrolux and Maytag equipment
