4604 Lowe Rd Louisville, KY 40220-1514

Property Details for 4604 Lowe Rd

Year built

1978

Lot size

8.19 lot acres

Property size

91,383 SF

Zone code

R4-RESIDENTIAL SINGLE FAM

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

22003703190000

APU

22003703190000

Description

This exceptional 91,383 square foot, single-story facility situated on 9.03 acres in Louisville, KY presents a compelling value-add opportunity. Built in 1978 and renovated in 2011, this former nursing home boasts 248 beds across 134 units, offering a flexible layout with multiple service wings. Amenities include three dining rooms, two kitchens, a salon, courtyards, a physical therapy gym, and a dialysis clinic. The property is zoned R4 and enjoys a convenient location, within a 10-minute drive of three major medical centers and with easy access to I-64 and I-264. The asking price is $6,999,000, representing a price per square foot of $76.59, a price per patient room of $52,231, and a price per maximum bed capacity of $28,222. The property's strategic location, coupled with the recent closure of nearby facilities resulting in a 292-bed reduction in market availability, creates a significant opportunity for renovation, rehabilitation, expansion, or redevelopment. Potential value-add components include complete renovation for a new tenant or owner-operator, adding units or auxiliary buildings, enhancing interior/exterior amenities, or repurposing the facility for a new use. The existing infrastructure, including the dialysis clinic, rehab studio, and commercial kitchens, provides a solid foundation for various healthcare or other uses. The average age within a 0.5-mile radius is 52. This property offers a rare chance to capitalize on a high-demand market with significant upside potential.