Freestanding NNN Commercial
For Sale
$950,000
4741 Rockford Plaza, Louisville, KY 40216
Renovated standalone facility with dedicated parking, an existing gaming tenant, and proposed NNN lease terms.
Property Size6,639 SF
Price / SF$143.09
Days on Market259
Property Features for 4741 Rockford Plaza
General Information
Standard status
Active
Size
6,639 SF
Total Parking Spaces
17
Property subtype
Retail
Amenities
Power
Water
Sewer
Natural Gas
17 Parking Spaces
Building Details
Year Built
1955
Year Renovated
2025
Buildings
1
Tenancy
Single
Listing Agency:
Homepage Realty
(502) 807-7319
Listed By:
Amanda Helfrich · License #222813
(502) 807-7319
Source:
Kcrea.resimplifi
Added: Dec 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:25AM
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.
This freestanding commercial building contains 6,639 SF and was originally built in 1955. The property has undergone a substantial renovation and buildout, with modern interior finishes, specialty lighting, and upgraded infrastructure. Dedicated off-street parking serves the building, which is currently occupied by Olympus Gaming Lounge, an e-sports and gaming facility.
The property is located at 4741 Rockford Plaza in Louisville, Kentucky, with access from Rockford Plaza Drive. The existing tenant is willing to execute a proposed 3- to 5-year NNN lease, with operating expenses paid by the tenant under those terms. The offering carries a stated 7.58% cap rate based on the proposed lease structure.
As a standalone building with parking, the property may support future retail, office, entertainment, or service-oriented uses identified in the source information. It is presented as both a net-leased asset and a potential future owner-user property.
The property is located at 4741 Rockford Plaza in Louisville, Kentucky, with access from Rockford Plaza Drive. The existing tenant is willing to execute a proposed 3- to 5-year NNN lease, with operating expenses paid by the tenant under those terms. The offering carries a stated 7.58% cap rate based on the proposed lease structure.
As a standalone building with parking, the property may support future retail, office, entertainment, or service-oriented uses identified in the source information. It is presented as both a net-leased asset and a potential future owner-user property.
Key Highlights
- 6,639 SF freestanding commercial building at 4741 Rockford Plaza, Louisville, KY 40216
- Existing Olympus Gaming Lounge occupancy in a renovated e‑sports and gaming facility
- Proposed 3- to 5‑year NNN lease with operating expenses paid by the tenant
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
$82,536
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
8.69%
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%
$1,650,720
$1.7M
Cap Rate 7%
$1,179,086
$1.2M
Cap Rate 9%
$917,067
$917.1K
Market Conditions
NOI Build-Up for 6,639 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
$127.5K $19.20/SF
− Vacancy
−$9.6K −$1.44/SF
EGI
$117.9K $17.76/SF
− OpEx
−$35.4K −$5.33/SF
NOI
$82.5K $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%
$1,650,720
Cap Rate 7%
$1,179,086
Cap Rate 9%
$917,067
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.38M
NOI $82,536 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,183 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
130k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 44%
Apparel 1%
Hotels & Casinos 1%
Thorntons
Shops & Services
23,818 visits/mo
0.4 miles
McDonald's
Dining
17,706 visits/mo
0.3 miles
Speedway
Shops & Services
15,564 visits/mo
0.2 miles
Taco Bell
Dining
12,608 visits/mo
0.3 miles
Scooter's Coffee
Dining
7,684 visits/mo
0.3 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?
NNN property - Renovated standalone facility with dedicated parking, an existing gaming tenant, and proposed NNN lease terms.
Where is this nnn property located?
The property is located at 4741 Rockford Plaza Louisville, KY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 6,639 SF freestanding commercial building at 4741 Rockford Plaza, Louisville, KY 40216; Existing Olympus Gaming Lounge occupancy in a renovated e‑sports and gaming facility; Proposed 3- to 5‑year NNN lease with operating expenses paid by the tenant
