Flex Space with Dock
For Sale
$2,500,000
8340 Cane Run Rd, Louisville, KY 40258
Industrial flex property combining substantial warehouse area with dedicated office space and multiple loading options.
Property Size28,400 SF
Price / SF$88.03
Days on Market407
Property Features for 8340 Cane Run Rd
General Information
Standard status
Active
Size
28,400 SF
Property subtype
Industrial
Zoning
M3
Building Details
Year Built
2004
Listing Agency:
CBRE Inc.
(502) 797-2539
Listed By:
Alex Grove
(502) 797-2539
Source:
Kcrea.resimplifi
Added: Jul 22, 2025
Changed: Aug 29
Last Checked: Sep 1 at 3:28PM
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 CBRE Inc.
Investment Insights
Based on property information with market context.
This 28,400 SF flex property, built in 2004, includes approximately 5,100 SF of office area within a larger industrial building. The facility provides one equipped dock door, two additional dock-door knock-outs, and one drive-in door for varied loading requirements. Clear heights reach 34 feet generally, with 61 feet available in an approximately 800 SF section.
The property is zoned M3 and located at 8340 Cane Run Rd in Louisville, Kentucky. Additional adjacent land is identified for potential outside storage, parking, or expansion, subject to applicable approvals and site requirements. The combination of warehouse volume, office space, loading infrastructure, and industrial zoning supports a range of flex and industrial operations.
The property is zoned M3 and located at 8340 Cane Run Rd in Louisville, Kentucky. Additional adjacent land is identified for potential outside storage, parking, or expansion, subject to applicable approvals and site requirements. The combination of warehouse volume, office space, loading infrastructure, and industrial zoning supports a range of flex and industrial operations.
Key Highlights
- 28,400± SF flex and industrial building
- Approximately 5,100± SF office area
- One equipped dock door, 2 additional knock‑outs, and 1 drive‑in door
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
$229,615
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
9.18%
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%
$4,592,300
$4.6M
Cap Rate 7%
$3,280,214
$3.3M
Cap Rate 9%
$2,551,278
$2.6M
Market Conditions
NOI Build-Up for 28,400 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
$282.9K $9.96/SF
− Vacancy
−$12.7K −$0.45/SF
EGI
$270.1K $9.51/SF
− OpEx
−$40.5K −$1.43/SF
NOI
$229.6K $8.09/SF
Area
Louisville, KY
Vacancy
4.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$4,592,300
Cap Rate 7%
$3,280,214
Cap Rate 9%
$2,551,278
Alternative Uses
Best Use
Flex RnD
$3.68M
$3.22M – $4.29M
NOI $257,517 @ 7.0% cap · market cap 10.30%
Second Best
Warehouse
$3.28M
$2.87M – $3.83M
NOI $229,615 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$7.36M
$6.44M – $8.59M
NOI $515,290 @ 7.0% cap · market cap 20.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40258, KY
26,807
Population
11,568
Households
2.3
Avg Household Size
39
Median Age
15%
College-Educated
88%
High-School Grad
11.7 sq mi
ZIP Area
2,291
Density / Sq Mi
$66,263
Median Household Income
$42,525
Median Earnings
$1,146
Median Rent
$173,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Industrial flex property combining substantial warehouse area with dedicated office space and multiple loading options.
Where is this flex space located?
The property is located at 8340 Cane Run Rd Louisville, KY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 28,400± SF flex and industrial building; Approximately 5,100± SF office area; One equipped dock door, 2 additional knock‑outs, and 1 drive‑in door
