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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2610 Magazine St Louisville, KY 40211

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2394977
    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

    • Commercial real estate

    Property Details for 2610 Magazine St

    Property type
    Commercial real estate

    Description

    This exceptional development opportunity encompasses five contiguous residential land parcels totaling 0.489 acres, ideally situated at 2610 Magazine St, Louisville, KY 40211. Four of these parcels boast highly desirable R6 zoning, presenting a unique chance for a variety of residential projects. The property's prime location in Jefferson County offers easy access to Louisville's vibrant amenities and infrastructure. The asking price for this entire assemblage is $160,000. This represents a compelling investment for developers seeking to capitalize on the strong demand for residential properties in this thriving Kentucky market. The individual lot sizes and precise dimensions are available upon request. Given the R6 zoning, potential projects could range from single-family homes to multi-family dwellings, subject to all necessary city and county approvals. Prospective buyers are encouraged to conduct their own due diligence regarding zoning regulations, building codes, and potential development restrictions. This is a rare opportunity to acquire a significant land holding in a desirable Louisville location, poised for immediate development. The property's address is clearly identified as 2610 Magazine Street, providing straightforward access and visibility. Serious inquiries are welcome.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.795305
    Latitude
    38.251452

    Comparable in this City

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      Prime R-6 Multi-Family Lot, $30,000
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    • $219,900
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      Louisville Multifamily Investment Opportunity

      Four-unit building in Louisville, Kentucky, ideal for investors.
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      Louisville Duplex with Rental Income

      Cash-flowing duplex with updated unit and rental potential.
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    • $154,900
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      Updated Duplex in Downtown Louisville

      Updated duplex with cash-flow potential near downtown Louisville.
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    • $135,000
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      Louisville Triplex Investment Opportunity

      Triplex with three 1-bedroom units, ideal for renovation.
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    Similar Nearby for Sale

    • $30,000
      0.11 Acres

      Louisville Residential Land Investment

      Prime R-6 Multi-Family Lot, $30,000
      1504 Catalpa St, Louisville, KY 40211
      View Details
    • Contact for pricing
      0.08 Acres

      Louisville Residential Land - $20K

      Vacant lot, R-6 zoning, excellent visibility.
      2911 Wilson Ave, Louisville, KY 40211
      View Details
    • $85,000
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      Louisville Duplex Investment Opportunity

      Duplex in Louisville, Kentucky, ideal for investors or owner-occupiers.
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    • $230,000
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      Income-Producing Triplex Near Downtown Louisville

      Fully occupied triplex near downtown Louisville with reliable cash flow.
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    • $219,900
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      Louisville Multifamily Investment Opportunity

      Four-unit building in Louisville, Kentucky, ideal for investors.
      3801 River Park Dr, Louisville, KY 40211
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    • $136,999
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      Louisville Duplex with Rental Income

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      736 Dearborn Ave, Louisville, KY 40211
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    Similar Nearby for Lease

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      100,922 SF

      Industrial Space with Rail Access

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      100,922 SF

      Louisville Industrial Space For Lease

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    2610 Magazine St
    Louisville, KY 40211
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    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
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