Booth-Rental Hair Salon
For Sale
Contact for pricing
4931 W Pages Ln, Louisville, KY 40258
Long-tenured booth-rental salon with front flexible weekly booths and a back salon with annual-lease stylists.
Property Size2,080 SF
Price / SF$204.33
Days on Market155
Property Features for 4931 W Pages Ln
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Retail
Zoning
C2 Commercial District
Net Operating Income
$52,000
Additional Details
Business Included
Yes
Building Details
Year Built
1953
Stories
1
Listing Agency:
Grisanti Group Commercial Real Estate
Listed By:
Nick Grisanti · License #274313
(502) 253-1811
Source:
Crexi
Added: Apr 4
Changed: Aug 28
Last Checked: Sep 2 at 9:08AM
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 Grisanti Group Commercial Real Estate
Investment Insights
Based on property information with market context.
Primpology Hair Lounge is a well-established booth-rental hair salon operating on a fully passive model, with the owner not involved in day-to-day operations. The space is divided into two distinct areas. The front salon features booth-rental stylists on a flexible weekly arrangement. The back salon includes three stylists on annual leases.
The salon has been in operation for the last 10 years, and the current independent contractors have been in place for a minimum of 2 years and up to as long as 10 years. Located at 4931 W Pages Ln in Louisville, KY 40258, the property offers a ready-to-operate setup for buyers seeking an established, contractor-led salon arrangement.
The salon has been in operation for the last 10 years, and the current independent contractors have been in place for a minimum of 2 years and up to as long as 10 years. Located at 4931 W Pages Ln in Louisville, KY 40258, the property offers a ready-to-operate setup for buyers seeking an established, contractor-led salon arrangement.
Key Highlights
- Primpology Hair Lounge is a booth‑rental hair salon with a front salon and a back salon setup.
- Front salon offers flexible weekly booth arrangements for independent contractor stylists.
- Back salon includes 3 stylists on annual leases.
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
$23,980
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
5.64%
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%
$479,600
$479.6K
Cap Rate 7%
$342,571
$342.6K
Cap Rate 9%
$266,444
$266.4K
Market Conditions
NOI Build-Up for 2,080 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
$37.4K $18.00/SF
− Vacancy
−$3.2K −$1.53/SF
EGI
$34.3K $16.47/SF
− OpEx
−$10.3K −$4.94/SF
NOI
$24.0K $11.53/SF
Area
Louisville, KY
Vacancy
8.50%
Lease Rate
$18.00 /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%
$479,600
Cap Rate 7%
$342,571
Cap Rate 9%
$266,444
Alternative Uses
Best Use
Retail
$342.6K
$299.8K – $399.7K
NOI $23,980 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$539.1K
$471.8K – $629.0K
NOI $37,740 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
103k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 31%
Beauty & Spa 3%
Apparel 3%
Thorntons
Shops & Services
23,748 visits/mo
0.1 miles
McDonald's
Dining
18,637 visits/mo
0.2 miles
Wendy's
Dining
13,810 visits/mo
0.2 miles
McAlister's Deli
Dining
13,417 visits/mo
0.5 miles
Taco Bell
Dining
10,909 visits/mo
0.3 miles
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 Retail 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?
Storefront property - Long-tenured booth-rental salon with front flexible weekly booths and a back salon with annual-lease stylists.
Where is this storefront property located?
The property is located at 4931 W Pages Ln Louisville, KY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Primpology Hair Lounge is a booth‑rental hair salon with a front salon and a back salon setup.; Front salon offers flexible weekly booth arrangements for independent contractor stylists.; Back salon includes 3 stylists on annual leases.
