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    Class A Office Tower in Louisville Title is generated by Realmo AI

    500 W Jefferson St, Louisville, KY 40202

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    Premier 29-story office tower with modern amenities and flexible spaces.

    Type:Office
    Property size:
    550,000 SF
    Added:
    Nov 30, 2021
    Days on Market:
    1649
    Last Refresh:
    May 12 at 10:38 pm

    Property Features for 500 W Jefferson St

    General Information

    Standard status
    Active
    Size
    550,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 500 W Jefferson St Contact us

    We can help!

    Listing Contact
    Sam Gray
    Sam Gray

    Listing agent Sam Gray License #KY 249598

    Listing office Cushman & Wakefield Commercial Kentucky

    Listing date Nov 30, 2021

    Source Crexi

    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 Cushman & Wakefield Commercial Kentucky

    HighLights

    • Class A, 29‑story office tower in Louisville's Central Business District
    • Recent $16,000,000 renovation to modernize the building
    • Unique tenant‑only amenity floor including a green‑scaped rooftop terrace, tenant lounge, fitness/yoga center, golf simulator, and conference center
    • Exterior improvements including modernized facade and illuminated building signage
    • Significant contiguous spaces available, over 68,000 sf, with exterior signage opportunities
    • 24‑hour on‑site security and 85‑space on‑site garage with valet service

    Overview

    500W is a Class A, 29-story office tower centrally located in the heart of Louisville’s Central Business District. The 550,000-sf tower offers both full and partial floor availabilities in the low- and high-rise sections. The building can offer significant contiguous spaces over 68,000 sf with exterior signage opportunities available. A $16,000,000 investment has recently been completed to modernize the office space. Exterior improvements include modernization to the building façade, illuminated building signage and monument signage, and renovated street level store fronts. Interior improvements feature a best-in-class elevator modernization and demolition of more than 45,000 sf of office space to accommodate a new and improved lobby area as well as a tenant-only amenity floor. Located on the 4th floor, the new amenities include a green-scaped rooftop terrace overlooking Jefferson Street, a private tenant lounge and wet bar including private liquor lockers, a fitness and yoga center complete with private changing rooms and showers, a golf simulator room, and a full conference center equipped with smart board and video conferencing technology. Other tenant amenities include 24-hour on-site security and an 85-space on-site garage with valet service.
    Property Profile Location Intelligence

    Current Use by Public Records

    Baird Louisville Headquarters Financial Advisor Louisville Downtown Partnership Social Service Agency Schell Ivan J Law Firm Ballantine Douglas C Law Firm Jones Lawrence L Law Firm

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Hair Salon Nail Salon Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.7439995
    Latitude
    38.2522605

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    FAQs

    What type of property is this?
    Office building - Premier 29-story office tower with modern amenities and flexible spaces.
    Where is this office building located?
    The property is located at 500 W Jefferson St Louisville, KY.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Class A, 29‑story office tower in Louisville's Central Business District; Recent $16,000,000 renovation to modernize the building; Unique tenant‑only amenity floor including a green‑scaped rooftop terrace, tenant lounge, fitness/yoga center, golf simulator, and conference center
    (502) 719-3240 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sam Gray
    Sam Gray
    Real Estate License ID: KY 249598
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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