Flex Space with
For Sale
$595,000
521 Woodbine St, Louisville, KY 40208
EZ-1 zoning, a fenced yard, and dock and drive-in loading support commercial operations.
Property Size9,100 SF
Price / SF$65.38
Days on Market333
Property Features for 521 Woodbine St
General Information
Standard status
Active
Size
9,100 SF
Property subtype
Industrial
Zoning
EZ1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Office Build-Out
2,300 SF
Amenities
Fenced Yard
Dock & Drive-In Loading
Air Compressor
Building Details
Year Built
1952
Listing Agency:
TRIO Commercial Property Group
(502) 387-8479
Listed By:
Dalton Dreisbach
(502) 387-8479
Source:
Kcrea.resimplifi
Added: Oct 1, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:54AM
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 TRIO Commercial Property Group
Investment Insights
Based on property information with market context.
This 9,100-square-foot flex property, built in 1952, includes 2,300 square feet of office area along with warehouse-oriented space. The improvements feature both dock and drive-in loading, a fenced yard, and an air compressor, providing a practical combination of enclosed workspace and exterior storage or staging area.
Located at 521 Woodbine St in Louisville, the property offers access to I-65 via the Jackson Street exit. EZ-1 zoning adds flexibility for commercial occupancy and use planning.
Located at 521 Woodbine St in Louisville, the property offers access to I-65 via the Jackson Street exit. EZ-1 zoning adds flexibility for commercial occupancy and use planning.
Key Highlights
- 9,100 SF flex property with 2,300 SF of office area
- Dock and drive‑in loading configurations
- Fenced yard for secured exterior storage or staging
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
$54,464
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
9.15%
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%
$1,089,280
$1.1M
Cap Rate 7%
$778,057
$778.1K
Cap Rate 9%
$605,156
$605.2K
Market Conditions
NOI Build-Up for 9,100 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
$81.9K $9.00/SF
− Vacancy
−$4.1K −$0.45/SF
EGI
$77.8K $8.55/SF
− OpEx
−$23.3K −$2.56/SF
NOI
$54.5K $5.98/SF
Area
Louisville, KY
Vacancy
5.00%
Lease Rate
$9.00 /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%
$1,089,280
Cap Rate 7%
$778,057
Cap Rate 9%
$605,156
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.38M
NOI $82,514 @ 7.0% cap · market cap 13.87%
Second Best
Warehouse
$1.05M
$919.7K – $1.23M
NOI $73,574 @ 7.0% cap · market cap 12.37%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,110 @ 7.0% cap · market cap 27.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - EZ-1 zoning, a fenced yard, and dock and drive-in loading support commercial operations.
Where is this flex space located?
The property is located at 521 Woodbine St Louisville, KY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 9,100 SF flex property with 2,300 SF of office area; Dock and drive‑in loading configurations; Fenced yard for secured exterior storage or staging
