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    6983 Dixie Hwy Louisville, KY 40258
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    Property profile & analytics

    6983 Dixie Hwy, Louisville, KY 40258

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    • Commercial real estate
    Off-Market
    Property ID
    US34-0013421
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 6983 Dixie Hwy

    Property type
    Commercial real estate

    Description

    Miller Manor, located at 6983 Dixie Hwy in Louisville, Kentucky, presents a compelling investment opportunity in the Jefferson County market. This multifamily apartment building offers a total of 22 units, comprising 16 one-bedroom apartments and 6 two-bedroom apartments. The property is situated in a prime location within the 40258 zip code, offering convenient access to local amenities and transportation. The asking price for this property is $2,090,000. This represents a strong potential return on investment for a buyer seeking to acquire a well-established apartment complex in a desirable Kentucky market. The building's layout and unit mix provide a solid foundation for generating rental income. Further due diligence is recommended to fully assess the financial performance and potential of this property. Detailed financial records and operational data are available upon request. This is an exceptional opportunity to acquire a well-positioned multifamily asset in a growing area. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.83743392795
    Latitude
    38.148908963138

    Comparable in this City

    • $3,390,000

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      Dixie Highway Commercial Property

      Prime Louisville Retail/Office Space
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      Dixie Highway Vacant Land Opportunity

      2.75-acre vacant lot with high traffic exposure and dual zoning.
      7845 Dixie Hwy, Louisville, KY 40258
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    Similar Nearby for Sale

    • $3,390,000

      Crawford Crossing Apartments For Sale

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      6701 Crawford Crossing Pl, Louisville, KY 40258
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      Riverport Land with River Frontage

      Vacant land in Riverport with frontage on Ohio River.
      7508 Cane Run Rd, Louisville, KY 40258
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      2,803 SF

      Retail Property on Dixie Highway

      Retail property for sale with high sales volume potential.
      8596 Dixie Hwy, Louisville, KY 40258
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      Riverport Land Approved For Structure

      6+ acre lot in Louisville's Riverport, approved for structure.
      10601 Freeport Dr, Louisville, KY 40258
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      912 SF

      Dixie Highway Commercial Property

      Prime Louisville Retail/Office Space
      7800 Dixie Hwy, Louisville, KY 40258
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      Dixie Highway Vacant Land Opportunity

      2.75-acre vacant lot with high traffic exposure and dual zoning.
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    Similar Nearby for Lease

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      22,000 SF

      Warehouse Space with Equipped Docks

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      22,500 SF

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      59,600 SF

      Industrial Space with Office

      59,600 SF industrial space with 5,000 SF office.
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      76,200 SF

      Warehouse Space Available For Lease

      76,200± SF warehouse space with office available for lease.
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      Dixie Hwy Retail Space Available

      Retail space on Dixie Hwy, high traffic, newly renovated.
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      519,000 SF

      Cane Run Road Warehouse Space

      519,000 sqft warehouse/distribution space available for lease.
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    Property Visit Statistics

    • Visits by month
      6.3k
    • Visitors by month
      4.8k
    • Avg Time on site
      12 min
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    6983 Dixie Hwy
    Louisville, KY 40258
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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.

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