Industrial Site with Approved
For Sale
Contact for pricing
Pending
11905 Dixie Hwy, Louisville, KY 40272
Industrial site with warehouse and approved development plan.
Property Size7,800 SF
Days on Market777
Property Features for 11905 Dixie Hwy
General Information
Standard status
Pending
Size
7,800 SF
Property subtype
Industrial
Zoning
CM Commercial Manufacturing
Building Details
Year Built
2022
Buildings
1
Units
1
Listing Agency:
Duncan Commercial Real Estate
(502) 550-7773
Listed By:
Patricia Evans · License #KY183777
Source:
Crexi
Added: Jul 18, 2024
Changed: Aug 8
Last Checked: Jul 26 at 1:59PM
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.
This industrial site is located on Dixie Highway at E Orell Road, less than a mile south of the Gene Snyder Freeway. The property includes an approved development plan and features a 7,800 square foot warehouse built in 2022. The warehouse includes seven drive-in doors. The entire property is fenced in. Zoned CM and within the Suburban Marketplace Corridor, the site offers flexibility for industrial and commercial use. The property has Dixie Highway frontage and is basically level and ready for development.
Key Highlights
- New (2022) 7,800 SF Warehouse with 7 Drive‑In Doors
- Approved Development Plan Included
- Prime Location: Dixie Highway Frontage, Less Than 1 Mile South of Gene Snyder Freeway
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
$63,063
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
6.31%
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%
$1,261,260
$1.3M
Cap Rate 7%
$900,900
$900.9K
Cap Rate 9%
$700,700
$700.7K
Market Conditions
NOI Build-Up for 7,800 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
$77.7K $9.96/SF
− Vacancy
−$3.5K −$0.45/SF
EGI
$74.2K $9.51/SF
− OpEx
−$11.1K −$1.43/SF
NOI
$63.1K $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%
$1,261,260
Cap Rate 7%
$900,900
Cap Rate 9%
$700,700
Alternative Uses
Best Use
Warehouse
$900.9K
$788.3K – $1.05M
NOI $63,063 @ 7.0% cap · market cap 6.31%
Second Best
Industrial
$666.9K
$583.5K – $778.1K
NOI $46,683 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,523 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial site with warehouse and approved development plan.
Where is this warehouse located?
The property is located at 11905 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: New (2022) 7,800 SF Warehouse with 7 Drive‑In Doors; Approved Development Plan Included; Prime Location: Dixie Highway Frontage, Less Than 1 Mile South of Gene Snyder Freeway
