Two-Building Warehouse
For Sale
$1,400,000
9201 Blue Lick Rd, Louisville, KY 40229
C-2 zoning, drive-in access, and a fenced yard support commercial and industrial operations subject to local code.
Property Size8,810 SF
Price / SF$158.91
Days on Market225
Property Features for 9201 Blue Lick Rd
General Information
Standard status
Active
Size
8,810 SF
Property subtype
Retail
Zoning
C2
Building Details
Year Built
1991
Listing Agency:
TRIO Commercial Property Group
(502) 645-1911
Listed By:
Justin Baker · License #204053
(502) 645-1911
Source:
Kcrea.resimplifi
Added: Jan 19
Changed: Aug 31
Last Checked: Aug 31 at 1:17PM
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 TRIO Commercial Property Group
Investment Insights
Based on property information with market context.
This warehouse property includes two separate buildings totaling 8,810 ± SF. The larger structure contains approximately 6,810 SF, while the second provides approximately 2,000 SF. Five drive-in doors serve loading and equipment movement, and the site includes outdoor parking along with a fenced yard area. Constructed in 1991, the property offers a multi-building layout for warehouse and related commercial operations.
The property is located at 9201 Blue Lick Rd in Louisville, Kentucky, approximately 1.1 miles from I-265 and 2.5 miles from I-65. C-2 zoning supports a range of commercial and industrial uses, subject to local code.
The property is located at 9201 Blue Lick Rd in Louisville, Kentucky, approximately 1.1 miles from I-265 and 2.5 miles from I-65. C-2 zoning supports a range of commercial and industrial uses, subject to local code.
Key Highlights
- 8,810 ± SF total building area across two warehouse buildings
- Building 1 contains approximately 6,810 SF; Building 2 contains approximately 2,000 SF
- Five drive‑in doors provide loading access
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
$71,229
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
5.09%
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%
$1,424,580
$1.4M
Cap Rate 7%
$1,017,557
$1.0M
Cap Rate 9%
$791,433
$791.4K
Market Conditions
NOI Build-Up for 8,810 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
$87.7K $9.96/SF
− Vacancy
−$3.9K −$0.45/SF
EGI
$83.8K $9.51/SF
− OpEx
−$12.6K −$1.43/SF
NOI
$71.2K $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%
$1,424,580
Cap Rate 7%
$1,017,557
Cap Rate 9%
$791,433
Alternative Uses
Best Use
Warehouse
$1.02M
$890.4K – $1.19M
NOI $71,229 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,849 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 40229, KY
39,380
Population
15,772
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
89%
High-School Grad
17.5 sq mi
ZIP Area
2,250
Density / Sq Mi
$78,877
Median Household Income
$42,782
Median Earnings
$1,294
Median Rent
$197,300
Median Home Value
Market
Vacancy Rate% for Industrial in Louisville, KY
Questions? Ask Rey
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Similar Off Market Nearby
- Public Storage — 9100 Blue Lick Rd, Louisville, KY 40219
Frequently Asked Questions
What type of property is this?
Warehouse - C-2 zoning, drive-in access, and a fenced yard support commercial and industrial operations subject to local code.
Where is this warehouse located?
The property is located at 9201 Blue Lick Rd Louisville, KY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8,810 ± SF total building area across two warehouse buildings; Building 1 contains approximately 6,810 SF; Building 2 contains approximately 2,000 SF; Five drive‑in doors provide loading access
