Prime NuLu Development
For Sale
Contact for pricing
713 E Market St, Louisville, KY 40202
High-visibility property in Louisville's dynamic neighborhood with income potential.
Property Size9,530 SF
Price / SF$409.13
Days on Market1375
Property Features for 713 E Market St
General Information
Standard status
Active
Size
9,530 SF
Property subtype
Retail, Mixed Use
Zoning
C-2 - Commercial District
Lease Type
NNN
Investment Type
Owner/User
Listing Agency:
EOS Commercial Real Estate
Listed By:
Scott Howe · License #KY 74531
(502) 749-7330
Source:
Crexi
Added: Nov 28, 2022
Changed: Aug 16
Last Checked: Sep 1 at 4:31AM
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 EOS Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in the heart of NuLu, this property at 713 E Market St in Louisville presents an opportunity for developers, investors, and visionaries. The property is positioned in one of Louisville’s growing districts. The existing structure can be leveraged for income generation. Revenue from current and future tenants, combined with parking income, positions the property to potentially produce annual revenue. The property is surrounded by art, dining, boutique retail, entertainment, and modern residential developments. This property offers high visibility in a prime NuLu location. The property is a development opportunity with current income and future potential. The property size is 9530 square feet.
Key Highlights
- Prime NuLu location in a rapidly growing, highly desirable urban corridor.
- Exceptional potential for developers, investors, and visionaries.
- High‑visibility property with strong current income potential.
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
$113,216
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
2.90%
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%
$2,264,320
$2.3M
Cap Rate 7%
$1,617,371
$1.6M
Cap Rate 9%
$1,257,956
$1.3M
Market Conditions
NOI Build-Up for 9,530 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
$205.8K $21.60/SF
− Vacancy
−$24.7K −$2.59/SF
EGI
$181.1K $19.01/SF
− OpEx
−$67.9K −$7.13/SF
NOI
$113.2K $11.88/SF
Area
Louisville, KY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,264,320
Cap Rate 7%
$1,617,371
Cap Rate 9%
$1,257,956
Alternative Uses
Best Use
Mixed Use
$1.62M
$1.42M – $1.89M
NOI $113,216 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$1.57M
$1.37M – $1.83M
NOI $109,871 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,912 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,736
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Hotels & Casinos 24%
Shops & Services 18%
McDonald's
Dining
11,315 visits/mo
0.4 miles
Residence Inn by Marriott Louisville Downtown
Hotels & Casinos
2,616 visits/mo
0.4 miles
Home2 Suites by Hilton Louisville Downtown Nulu
Hotels & Casinos
2,413 visits/mo
0.2 miles
FASTSIGNS
Shops & Services
1,632 visits/mo
0.2 miles
Prime Storage
Shops & Services
1,218 visits/mo
0.2 miles
Demographics for 40202, KY
7,179
Population
4,242
Households
1.7
Avg Household Size
39
Median Age
27%
College-Educated
83%
High-School Grad
1.6 sq mi
ZIP Area
4,487
Density / Sq Mi
$29,382
Median Household Income
$33,205
Median Earnings
$881
Median Rent
$340,000
Median Home Value
Market
Vacancy Rate% for Retail in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - High-visibility property in Louisville's dynamic neighborhood with income potential.
Where is this mixed-use property located?
The property is located at 713 E Market St Louisville, KY.
What is the asking price?
The asking price for this property is $3,899,000.
What are key features of this property?
This property features: Prime NuLu location in a rapidly growing, highly desirable urban corridor.; Exceptional potential for developers, investors, and visionaries.; High‑visibility property with strong current income potential.
