Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    649 S 44Th St Louisville, KY 40211

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $774,000

    Well-maintained 12-unit property near Shawnee Park.

    Property size:
    10,848 SF
    Lot size:
    0.55 Acres

    Property Features for 649 S 44Th St

    General Information

    Standard status
    Active
    Size
    10,848 SF
    Lot size
    0.55 Acres

    Building Details

    Year built
    1949

    We can help!

    Listing Contact
    Katie Renfro
    Source: Crexi

    Listing Agency: Colliers Listing Agent: Katie Renfro

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Louisville Multifamily Investment Opportunity

    This multifamily property features 12 units and is located in Louisville's Shawnee neighborhood, one block from Shawnee Park. Situated in a dense single-family residential area, the all-brick buildings have been well maintained, with improvements over the past several years that include unit turns, new roofs, and many windows. The property is separately metered for gas and electric, which limits landlord utility exposure. The property size is 10848 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.8246763
    Latitude
    38.2534121

    Nearby Similar for Sale

    • $349,900
      9,617 SF

      Louisville Commercial Redevelopment Opportunity

      Versatile commercial property with redevelopment potential in Louisville's Opportunity Zone.
      2114 W Market St, Louisville, KY 40212
      View Details
    • $349,900
      9,617 SF

      Louisville Commercial Redevelopment Opportunity

      Three-story commercial property with redevelopment potential in Louisville's Opportunity Zone.
      2114 W Market St, Louisville, KY 40212
      View Details
    • $589,000
      3,575 SF

      Versatile Commercial Building with Apartment

      3,571 SF commercial building with apartment in high-visibility location.
      8107 Blue Lick Rd, Louisville, KY 40219
      View Details
    • New
      $415,000
      2,734 SF

      Highlands Duplex on Deep Corner

      Highlands duplex with stable leases and upgraded interiors.
      1100 Baxter Ave, Louisville, KY 40204
      View Details
    • $520,000
      1.00 Acre

      Louisville Retail Property For Sale

      Retail property in high-traffic area, generating monthly income.
      3958 Cane Run Rd, Louisville, KY 40211
      View Details
    • New
      $525,000
      3,400 SF

      Turnkey Triplex in Cherokee Triangle

      Well-maintained triplex with strong income and excellent walkability.
      2124 Longest Ave, Louisville, KY 40204
      View Details
    • $230,000
      0.27 Acres

      Commercially Zoned Property on Crums Lane

      High-traffic location with infrastructure upgrades ideal for diverse businesses.
      2115 Crums Ln, Louisville, KY 40216
      View Details
    • New
      $359,900
      3,430 SF

      Four-Unit Apartment Building in Louisville

      Well-maintained four-unit apartment building with steady rental income.
      3217 Springfield Dr, Louisville, KY 40214
      View Details
    • $549,900
      0.65 Acres

      Versatile Commercial Building with Apartment

      C-1 zoned commercial building with apartment in high-visibility location.
      8107 Blue Lick Rd, Louisville, KY 40219
      View Details
    • New
      $314,900
      3,338 SF

      Four-Unit Investment Opportunity in Louisville

      Two parcels with strong rental history and cash flow.
      2315 Portland Ave, Louisville, KY 40212
      View Details
    • $450,000
      3,598 SF

      Louisville Fourplex with Strong Income

      Solid brick fourplex generating $3,770/month gross rent in Louisville.
      126 N Longworth Ave, Louisville, KY 40212
      View Details
    • $670,000
      3,731 SF

      Louisville Commercially Zoned Rental Property

      Commercially zoned rental property in Louisville, operating as mid-term rental.
      320 E College St, Louisville, KY 40203
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained 12-unit property near Shawnee Park.
    Where is this apartment building located?
    The property is located at 649 S 44Th St Louisville, KY.
    What is the asking price?
    The asking price for this property is $774,000.
    What are key features of this property?
    This property features: - Well-maintained property with recent improvements including unit turns, new roofs, and many windows.; - Located one block from Shawnee Park.; - Situated in a dense single-family residential neighborhood.
    (502) 345-3667
    Request Owner's contact information
    649 S 44Th St Louisville, KY 40211
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    649 S 44Th St
    Louisville, KY 40211
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    649 S 44Th St Louisville, KY 40211
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Katie Renfro
    Real Estate License ID: 271918
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!