Single-Level Office Building with
For Sale
Contact for pricing
908 Minoma Avenue, Louisville, KY 40217
Single-level office with private patio, abundant natural light, and multiple offices suited for professional and specialty uses.
Property Size3,061 SF
Price / SF$204.18
Days on Market60
Property Features for 908 Minoma Avenue
General Information
Standard status
Active
Size
3,061 SF
Total Parking Spaces
6
Property subtype
Office
Zoning
C-1
Additional Details
Office Units
8
Building Details
Year Built
1948
Stories
1
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Jonathan Klunk · License #KY251476
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 6 at 11:32AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This single-level office building totals 3,061 SF and is wheelchair accessible. The space features abundant natural light, tall ceilings, exposed ductwork, and terrazzo marble floors, supported by two HVAC systems. The layout includes eight private offices plus additional flex space that could support a ninth office, storage, or specialty use. A large conference room anchors the work areas, along with a spacious reception and waiting area. Day-to-day convenience is built in with a large break room with kitchenette and two restrooms. Outside, there is a private, partially fenced patio for informal meetings or tenant use. The building is updated and well maintained throughout.
The property is located one block off Eastern Parkway and is set in Louisville’s Schnitzelburg neighborhood. It offers convenient access to nearby destinations including Germantown, the Highlands, Downtown Louisville, the University of Louisville, and major healthcare and business corridors.
With C-1 commercial zoning, the building can support a broad range of tenant and owner-user concepts, including professional offices and practices such as law, accounting, real estate, architecture/design, engineering, marketing, coworking, therapy or counseling, and certain medical or wellness-related uses. The flex space, reception area, and multiple office configuration also make it practical for organizations that need a mix of private rooms, meeting space, and support space.
The property is located one block off Eastern Parkway and is set in Louisville’s Schnitzelburg neighborhood. It offers convenient access to nearby destinations including Germantown, the Highlands, Downtown Louisville, the University of Louisville, and major healthcare and business corridors.
With C-1 commercial zoning, the building can support a broad range of tenant and owner-user concepts, including professional offices and practices such as law, accounting, real estate, architecture/design, engineering, marketing, coworking, therapy or counseling, and certain medical or wellness-related uses. The flex space, reception area, and multiple office configuration also make it practical for organizations that need a mix of private rooms, meeting space, and support space.
Key Highlights
- 3,061 SF single‑level office building built in 1948
- 8 private offices plus additional flex space that may support a 9th office, storage, or specialty use
- Includes large conference room, spacious reception/waiting area, and large break room with kitchenette
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
$39,533
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
6.33%
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%
$790,660
$790.7K
Cap Rate 7%
$564,757
$564.8K
Cap Rate 9%
$439,256
$439.3K
Market Conditions
NOI Build-Up for 3,061 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
$64.3K $21.00/SF
− Vacancy
−$11.6K −$3.78/SF
EGI
$52.7K $17.22/SF
− OpEx
−$13.2K −$4.31/SF
NOI
$39.5K $12.92/SF
Area
Louisville, KY
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$790,660
Cap Rate 7%
$564,757
Cap Rate 9%
$439,256
Alternative Uses
Best Use
Office B
$564.8K
$494.2K – $658.9K
NOI $39,533 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$793.4K
$694.2K – $925.7K
NOI $55,539 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
Explore this area
Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-level office with private patio, abundant natural light, and multiple offices suited for professional and specialty uses.
Where is this office building located?
The property is located at 908 Minoma Avenue Louisville, KY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,061 SF single‑level office building built in 1948; 8 private offices plus additional flex space that may support a 9th office, storage, or specialty use; Includes large conference room, spacious reception/waiting area, and large break room with kitchenette
