Building Details

Year Built 2008

Buildings 1

Tenancy Multi

Owner Occupied No

Listing Agency: KW Commercial

Listed By: Geoff Wilkinson · License #71641 Show Phone

Source: Kcrea.resimplifi

Added: Oct 9 Changed: Oct 13 Last Checked: Oct 13 at 2:25AM

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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 KW Commercial

Investment Insights

Based on property information with market context.

At 9409 Norton Commons Blvd, this 4,944-square-foot mixed-use property combines street-level commercial space with a two-story residential unit above. Built in 2008, the commercial area has a large front showroom or collaborative work area, three enclosed rooms, rear workspace, and a private restroom. Facade signage is present, and the layout allows for additional office configuration.

A rear door opens directly to the South Village parking lot for staff access and loading. The building is individually deeded rather than a condominium, and the commercial tenant reimburses 34% of overall building operating expenses under a net lease.

Key Highlights

• 4,944‑square‑foot mixed‑use property with ground‑floor commercial space and an upper two‑story residence
• Built in 2008; zoned PVD
• Commercial layout includes a large front area, three enclosed rooms, rear workspace, and private restroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,281

Cap Rate

4.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,125,620 $1.1M

Cap Rate 7%

$804,014 $804.0K

Cap Rate 9%

$625,344 $625.3K

Market Conditions

NOI Build-Up for 4,944 SF

Gross rent

$83.1K $16.80/SF

− Vacancy

−$2.7K −$0.54/SF

EGI

$80.4K $16.26/SF

− OpEx

−$24.1K −$4.88/SF

NOI

$56.3K $11.38/SF

Area

Jefferson County, KY

Vacancy

3.20%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,125,620

Cap Rate 7%

$804,014

Cap Rate 9%

$625,344

Alternative Uses

Best Use

Retail

$804.0K

$703.5K – $938.0K (±1% cap)

NOI $56,281 @ 7.0% cap · market cap 4.33%

Second Best

Mixed Use

$699.2K

$611.8K – $815.8K (±1% cap)

NOI $48,946 @ 7.0% cap · market cap 3.77%

Theoretical Best

Healthcare Medical

$978.5K

$856.2K – $1.14M (±1% cap)

NOI $68,497 @ 7.0% cap · market cap 5.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

TLT Photography Gallery Photography Service Elizabeth Bates Physician

Suggested Use

Top Pick Electrical Service Building Supply Daycare Center (Bike/Boat/Book/etc) Store Grocery & Convenience Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

382

Businesses Nearby

Explore this area Business Placement

Demographics for 40059, KY

20,254

Population

8,400

Households

2.4

Avg Household Size

45

Median Age

71%

College-Educated

99%

High-School Grad

28.2 sq mi

ZIP Area

718

Density / Sq Mi

$165,000

Median Household Income

$83,963

Median Earnings

$1,844

Median Rent

$533,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-level commercial space is paired with an upper residence in an individually deeded property.

Where is this mixed-use property located?

The property is located at 9409 Norton Commons Blvd Prospect, KY.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 4,944‑square‑foot mixed‑use property with ground‑floor commercial space and an upper two‑story residence; Built in 2008; zoned PVD; Commercial layout includes a large front area, three enclosed rooms, rear workspace, and private restroom