Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    13117 Aiken Rd Louisville, KY 40223-4747

    • Warehouses
    • 10,025 SF
    • 29.46 lot acres
    OFF-MARKET
    Last Sale
    Mar 20, 2024
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0337309
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Stansteel Shop / Work Clothes Store

    Property Details for 13117 Aiken Rd

    Year built
    1987
    Construction
    WOOD
    Lot size
    29.46 lot acres
    Property size
    10,025 SF
    Zone code
    M3-INDUSTRIAL
    Property type
    Warehouses
    APN
    21002306310000
    APU
    21002306310000

    Description

    This exceptional industrial property at 13117 Aiken Road in Louisville, Kentucky, offers a prime opportunity for businesses seeking flexible and adaptable space. The single-story building, totaling 63,000 square feet, features a variety of configurations to suit diverse needs. Currently, 27,000 square feet of space is immediately available, divisible into units ranging from 5,000 to 12,000 contiguous square feet. The property boasts a generous 23-28 foot ceiling height, ideal for warehousing or manufacturing, and includes two dock-high doors for efficient loading and unloading. Situated on a substantial 29.46-acre lot (1,283,103 square feet), this property provides ample room for expansion and outdoor storage. The M3 zoning allows for a wide range of industrial uses, including flex, warehouse, distribution, and R&D. The building is currently under construction, with the first phase completed in January and the remaining space expected to be ready by April 1st, 2024. This location in Jefferson County, zip code 40223, offers excellent access to major transportation routes, making it an ideal choice for businesses seeking a strategic location in the Louisville market. The property consists of three total suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $725,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,350,000
      6.5%
      $1,245,000
      7%
      $1,160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,223,000
      Market price range: $368k - $1.22M
      AI Estimate
      $769,000
      Market price range: $237k - $769k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $730,000
      Current use
      OFFICE BUILDING
      $1,450,000
      Change: +98% Conversion: Difficult
      RETAIL STORES
      $1,275,000
      Change: +74% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $760,000
      Change: +4% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.5075
    Latitude
    38.2572
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $82,217
    $3,967,580
    $3,132,350
    $7,099,930
    -
    $3,967,580
    $3,132,350
    $7,099,930

    Comparable in this City

    • Value Estimation
      $600,000
      6,000 SF

      12800 Fenwick Ctr Dr

      WAREHOUSE, STORAGE • 6,000 SF
      12800 Fenwick Ctr Dr, Louisville, KY 40223-4763
      View Details
    • Value Estimation by Request
      2,586 SF

      508 English Sta Rd

      MINI-WAREHOUSE, STORAGE • 2,586 SF
      508 English Sta Rd, Louisville, KY 40223-5704
      View Details
    • Value Estimation
      $1,135,000
      1,514 SF

      13319 Aiken Rd

      WAREHOUSE, STORAGE • 1,514 SF
      13319 Aiken Rd, Louisville, KY 40223-4751
      View Details
    • Value Estimation
      $700,000
      7,100 SF

      13157 Middletown Industrial Blvd

      WAREHOUSE, STORAGE • 7,100 SF
      13157 Middletown Industrial Blvd, Louisville, KY 40223-5703
      View Details
    • Value Estimation
      $905,000
      14,496 SF

      13035 Middletown Industrial Blvd

      WAREHOUSE, STORAGE • 14,496 SF
      13035 Middletown Industrial Blvd, Louisville, KY 40223-4762
      View Details
    • Value Estimation by Request
      5,880 SF

      804 English Sta Rd

      WAREHOUSE, STORAGE • 5,880 SF
      804 English Sta Rd, Louisville, KY 40223-4728
      View Details

    Similar Nearby for Sale

    • $859,000
      5,536 SF

      East End Live-Work Compound

      1.34-acre M-2/M-3 zoned property with residence and warehouse/shop.
      13315 Aiken Rd, Louisville, KY 40223
      View Details
    • $205,000

      Sycamore Trail Condo with Amenities

      Two-bedroom condo with modern updates and community amenities.
      10617 Sycamore Trl, Louisville, KY 40223
      View Details
    • $3,750,000

      Land on Shelbyville Road

      Land for sale near Locust Creek subdivision and new Publix.
      18406 Shelbyville Rd, Fisherville, KY 40223
      View Details
    • $500,000

      Updated Home in Forest Village

      Updated home with open layout, sunroom, and private wooded area.
      10002 Cave Creek Rd, Louisville, KY 40223
      View Details
    • $4,662,500
      36,222 SF

      Magisterial Drive Executive Offices

      Prime Louisville executive office building, fully occupied.
      13100 Magisterial Dr, Louisville, KY 40223
      View Details
    • $139,900

      Upscale Office Suite, Louisville KY

      Remodeled Office Space - East End Location
      1700 Ups Dr, Louisville, KY 40223
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      15,840 SF

      Office/Warehouse Building with Bridge Crane

      Office and warehouse space with convenient access and industrial features.
      1302 North English Station Rd, Louisville, KY 40223
      View Details
    • $8 SF/Yr
      11,966 SF

      Office Warehouse with Dock Door

      Office warehouse with dock door and flexible floor plan.
      1310 N English Station Rd, Louisville, KY 40223
      View Details
    • $6 SF/Yr
      31,222 SF

      East End Industrial Warehouse Space

      Industrial warehouse and office space available for sublease.
      602 N English Station Rd, Louisville, KY 40223
      View Details
    • $27 SF/Yr
      9,784 SF

      Class A Office Building

      Six-story Class A office building with modern amenities and easy access.
      10200 Forest Green Blvd, Louisville, KY 40223
      View Details
    • Contact for pricing
      75,434 SF

      Louisville Executive Office Space

      Premium Office Suites, 8,389 - 12,026 SF
      9900 Corporate Campus Dr, Louisville, KY 40223
      View Details
    • $20 SF/Yr
      15,500 SF

      Prime Louisville Executive Office Space

      15,500 SF Class A Office, Kentucky
      9700 Ormsby Station Rd, Louisville, KY 40223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    13117 Aiken Rd
    Louisville, KY 40223-4747
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.