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667 Armory Pl Louisville, KY 40202

OFF-MARKET Manufacturing properties Google Maps
131,634 SF 3.62 ac lot Built 2003
Entity Owned 3-yr Hold Free & Clear
Estimated value (blended)
$11.51M
Range $10.35M – $12.66M (±10%)
Property ID US34-2160900

Property summary

AI-generated overview

This exceptional industrial property, located at 667 Armory Pl, Louisville, KY 40202, presents a significant investment opportunity. The 135,785 square foot warehouse, built in 2001, features a two-story design and sits on a 3.81-acre lot (APN: 013K01500000). The building boasts impressive ceiling heights ranging from 20 to 70 feet, providing ample vertical space for various storage and operational needs. Five (5) loading docks, each measuring 9' x 10', are equipped with levelers and seals, ensuring efficient loading and unloading operations. The property is zoned C-3 and offers superb access to the city's central location, with excellent ingress and egress. While additional parking is TBD, there are additional parking lots on the south side of Broadway. This property is also available for purchase with the adjacent 525 West Broadway property for a combined price of $7,000,000. This represents a substantial price reduction from the previous asking price of $13,250,000. The asking price for this individual property is $3,300,000, translating to $24.30 per square foot. This is a rare opportunity to acquire a well-located, spacious industrial warehouse in a thriving Kentucky market.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 2003
Total area 131,634 SF
Lot 3.62 ac (157,774 SF)
Zoning code C3-CENTRAL BUSINESS
APN 03013K01500000
UPID US34-2160900

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
$9.55M
CAP Approach CAP
$12.12M
Comparable Approach Comparable
by Request
Blend (final) Blend
$11.51M

Owner & transaction history

since 2022
Last sale
$11.4M
1 recorded transaction
2022
$11.4M

Zoning & alternative use

C3-CENTRAL BUSINESS · Louisville, KY
Top alternative use upside
Retail stores $16.8M +146.9%
Office building $13.5M +99.3%
Commercial (general) $10.0M +46.7%

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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