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4427 Bishop Ln Watterson Park, KY 40218-4505

OFF-MARKET Manufacturing properties Google Maps
31,875 SF 1.15 ac lot Built 1965
Individually Owned 4-yr Hold ~ Est. High Equity
Estimated value (blended)
$2.20M
Range $1.98M – $2.42M (±10%)
Property ID US34-0047462

Property summary

AI-generated overview

This exceptional investment opportunity comprises two strategically located manufacturing buildings in Louisville, KY, totaling 43,717 square feet on 1.66 acres. The properties boast excellent visibility at the corner of Bishop Lane and Eastmoor Road, situated between the Newburg Rd./I-264 and Poplar Level Rd./I-264 interchange. Building one, at 4427 Bishop Lane, offers 32,804 square feet, including 4,493 square feet of office space with restrooms, private offices, shop offices, a breakroom, and a locker room. This building features ceiling heights ranging from 20 to 38 feet, multiple cranes (2-ton, 3-ton, 5-ton, 10-ton, and a 50-ton crane), and ample loading options including a recessed dock under the 50-ton crane, a 10' x 12' dock door, and a 14' x 18' drive-in door. It also benefits from a substantial 1,000 amp 277/480 V, 3-phase electric service. Building two, located at 4104 Eastmoor Road, encompasses 10,913 square feet, with 1,372 square feet of office space including a breakroom, restroom, and private office/reception area. This building features 16' to 20' ceiling heights, multiple cranes, and multiple drive-in doors (two 16'x16', one 16'x12', and one 10'x12'). It also has a 1,000 amp 277/480 V, 3-phase electric service. Both buildings are zoned M-2 Industrial and offer approximately 45 parking spaces. This is a rare opportunity to acquire a well-maintained, highly functional industrial portfolio in a prime Louisville location. The asking price is $3,900,000.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1965
Total area 31,875 SF
Lot 1.15 ac (50,007 SF)
Zoning code M2-INDUSTRIAL
APN 23082900600000
UPID US34-0047462

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.42M
Blend (final) Blend
$2.20M

Owner & transaction history

since 2022
6 recorded transactions
2022
$3.3M
2019
Price N/A
2017
Price N/A
2015
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

M2-INDUSTRIAL · Watterson Park, KY
Top alternative use upside
Commercial (general) $2.4M +48.5%
Warehouse, storage $2.3M +41.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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