Automotive Service Building with Adjacent
For Sale
$900,000
715 S Jackson St, Louisville, KY 40203
Automotive service property with office space, vehicle maintenance pits, and additional fenced land for vehicle storage.
Property Size2,810 SF
Price / SF$320.28
Days on Market205
Property Features for 715 S Jackson St
General Information
Standard status
Active
Size
2,810 SF
Property subtype
Industrial
Zoning
C1
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Service Bays
2
Building Details
Year Built
1993
Buildings
1
Listing Agency:
simpler.realestate
(502) 296-1031
Listed By:
Joseph Hampton
(502) 296-1031
Source:
Kcrea.resimplifi
Added: Feb 6
Changed: Aug 28
Last Checked: Aug 30 at 1:10PM
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 simpler.realestate
Investment Insights
Based on property information with market context.
This automotive service property includes a 2,810-square-foot building completed in 1993. The layout provides a 372-square-foot office and 2,438 square feet dedicated to service operations. A full lower level contains two vehicle maintenance and oil-change pits, 7.5-foot ceilings, a concrete containment area with tanks, and a four-fixture restroom.
Five adjoining lots extend the property toward Finzer Street, with frontage on that street. Several lots are fenced and currently accommodate vehicle parking associated with a towing business. The building is zoned C1, while the adjacent lots are zoned OR-2. The property is located at 715 S Jackson St in Louisville, within the Central Business District.
Five adjoining lots extend the property toward Finzer Street, with frontage on that street. Several lots are fenced and currently accommodate vehicle parking associated with a towing business. The building is zoned C1, while the adjacent lots are zoned OR-2. The property is located at 715 S Jackson St in Louisville, within the Central Business District.
Key Highlights
- 2,810‑square‑foot building completed in 1993
- 372‑square‑foot general office area and 2,438 square feet of automotive service space
- Full lower level with two vehicle maintenance/oil‑change pits
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
$32,396
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
3.60%
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%
$647,920
$647.9K
Cap Rate 7%
$462,800
$462.8K
Cap Rate 9%
$359,956
$360.0K
Market Conditions
NOI Build-Up for 2,810 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
$50.6K $18.00/SF
− Vacancy
−$4.3K −$1.53/SF
EGI
$46.3K $16.47/SF
− OpEx
−$13.9K −$4.94/SF
NOI
$32.4K $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%
$647,920
Cap Rate 7%
$462,800
Cap Rate 9%
$359,956
Alternative Uses
Best Use
Retail
$462.8K
$405.0K – $539.9K
NOI $32,396 @ 7.0% cap · market cap 3.60%
Second Best
Industrial
$240.3K
$210.2K – $280.3K
NOI $16,818 @ 7.0% cap · market cap 1.87%
Theoretical Best
Office A
$728.4K
$637.3K – $849.8K
NOI $50,985 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
6,749
Businesses Nearby
41k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 27%
Apparel 15%
Home Improvements & Furnishings 3%
Shell
Shops & Services
12,269 visits/mo
0.1 miles
Taco Bell
Dining
9,038 visits/mo
0.4 miles
Goodwill
Apparel
6,293 visits/mo
0.4 miles
Dollar General
Shops & Services
4,998 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
2,912 visits/mo
0.2 miles
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
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?
Auto shop - Automotive service property with office space, vehicle maintenance pits, and additional fenced land for vehicle storage.
Where is this auto shop located?
The property is located at 715 S Jackson St Louisville, KY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,810‑square‑foot building completed in 1993; 372‑square‑foot general office area and 2,438 square feet of automotive service space; Full lower level with two vehicle maintenance/oil‑change pits
