Office Building with Monument
For Sale
Contact for pricing
827 East Broadway, Louisville, KY 40204
C-2 zoning, dedicated off-street parking, and a monument sign serve this Louisville office property.
Property Size5,205 SF
Price / SF$146.70
Days on Market15
Property Features for 827 East Broadway
General Information
Standard status
Active
Size
5,205 SF
Class
C
Total Parking Spaces
10
Property subtype
Retail, Office
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1950
Buildings
1
Building Size
5,205 SF
Listing Agency:
Duncan Commercial Real Estate
Listed By:
Todd Whitchurch · License #KY 57445
Source:
Crexi
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:36AM
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 Duncan Commercial Real Estate
Investment Insights
Based on property information with market context.
Located at 827 East Broadway in Louisville, this office building was constructed in 1950 and previously operated as a veterinary clinic. The interior offers a flexible arrangement that may be opened or reconfigured for office, medical, professional service, nonprofit, educational, or specialty commercial uses. A prominent monument sign provides on-site identification along East Broadway, and the property includes 10 dedicated off-street parking spaces.
The property has access to Bardstown Road and Interstate 65, with connections to Downtown Louisville, the Highlands, and nearby business districts. Additional land is positioned along the west side of the building, providing room for future site planning. The property is zoned C-2.
The property has access to Bardstown Road and Interstate 65, with connections to Downtown Louisville, the Highlands, and nearby business districts. Additional land is positioned along the west side of the building, providing room for future site planning. The property is zoned C-2.
Key Highlights
- Office building at 827 East Broadway, Louisville, KY 40204
- C‑2 zoning
- 10 dedicated off‑street parking spaces
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
$67,496
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
8.83%
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%
$1,349,920
$1.3M
Cap Rate 7%
$964,229
$964.2K
Cap Rate 9%
$749,956
$750.0K
Market Conditions
NOI Build-Up for 5,208 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
$125.0K $24.00/SF
− Vacancy
−$12.5K −$2.40/SF
EGI
$112.5K $21.60/SF
− OpEx
−$45.0K −$8.64/SF
NOI
$67.5K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,349,920
Cap Rate 7%
$964,229
Cap Rate 9%
$749,956
Alternative Uses
Best Use
Healthcare Medical
$964.2K
$843.7K – $1.12M
NOI $67,496 @ 7.0% cap · market cap 8.83%
Second Best
Office B
$960.9K
$840.8K – $1.12M
NOI $67,261 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,494 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - C-2 zoning, dedicated off-street parking, and a monument sign serve this Louisville office property.
Where is this office building located?
The property is located at 827 East Broadway Louisville, KY.
What is the asking price?
The asking price for this property is $764,000.
What are key features of this property?
This property features: Office building at 827 East Broadway, Louisville, KY 40204; C‑2 zoning; 10 dedicated off‑street parking spaces
