Riverfront Conventional
For Sale
Contact for pricing
601 W Riverside Drive, Jeffersonville, IN 47130
Operating restaurant business offered with its building and underlying real estate along the Ohio River.
Property Size13,465 SF
Price / SF$445.60
Days on Market11
Property Features for 601 W Riverside Drive
General Information
Standard status
Active
Size
13,465 SF
Property subtype
Retail, Business for Sale
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
1988
Abandoned
No
Listing Agency:
Cushman & Wakefield Commercial Kentucky
(502) 719-3221
Listed By:
Craig Collins · License #KY 34708
Source:
Crexi
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 11:16AM
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 Cushman & Wakefield Commercial Kentucky
Investment Insights
Based on property information with market context.
This conventional restaurant property includes the operating KingFish business together with the underlying real estate. The improvements were built in 1988 and contain 13,465 square feet. The offering combines an established restaurant operation with the building and land in one transaction.
Positioned along the Ohio River, the property provides access to U.S. Highway 31 and Interstate 65. Downtown Louisville is located across the river, connecting the site with the Louisville metropolitan area and Southern Indiana. The property also carries a Refreshment Area designation.
Positioned along the Ohio River, the property provides access to U.S. Highway 31 and Interstate 65. Downtown Louisville is located across the river, connecting the site with the Louisville metropolitan area and Southern Indiana. The property also carries a Refreshment Area designation.
Key Highlights
- 13,465‑square‑foot restaurant property built in 1988
- Operating KingFish restaurant business offered with the underlying real estate
- Ohio River waterfront setting in Jeffersonville
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
$174,143
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
2.90%
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%
$3,482,860
$3.5M
Cap Rate 7%
$2,487,757
$2.5M
Cap Rate 9%
$1,934,922
$1.9M
Market Conditions
NOI Build-Up for 13,465 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
$242.4K $18.00/SF
− Vacancy
−$10.2K −$0.76/SF
EGI
$232.2K $17.24/SF
− OpEx
−$58.0K −$4.31/SF
NOI
$174.1K $12.93/SF
Area
Clark County, IN
Vacancy
4.20%
Lease Rate
$18.00 /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%
$3,482,860
Cap Rate 7%
$2,487,757
Cap Rate 9%
$1,934,922
Alternative Uses
Best Use
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,143 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.91M
$3.43M – $4.57M
NOI $274,040 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47130, IN
48,481
Population
22,602
Households
2.1
Avg Household Size
39
Median Age
25%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
1,430
Density / Sq Mi
$68,412
Median Household Income
$40,941
Median Earnings
$1,090
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant business offered with its building and underlying real estate along the Ohio River.
Where is this conventional restaurant located?
The property is located at 601 W Riverside Drive Jeffersonville, IN.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 13,465‑square‑foot restaurant property built in 1988; Operating KingFish restaurant business offered with the underlying real estate; Ohio River waterfront setting in Jeffersonville
