927 Madison St, Louisville, KY 40204-1032
This versatile 13,070-square-foot flex warehouse in the desirable Phoenix Hill/Nulu submarket presents a unique investment opportunity. The two-story, Class B building, constructed in 1880 and renovated in 1975, sits on a 0.44-acre lot (19,166.4 total lot size) and offers a blend of warehouse, office, and potential commercial kitchen space. The first floor features a commercial kitchen, office space, and ample storage areas, along with a half-bathroom. The second floor provides expansive open space ideal for storage or workshops, accessible via stairs. A non-operational lift offers potential for future restoration. The property boasts two drive-in doors, providing convenient access, and six total parking spaces within a fenced area. Three adjacent vacant lots offer potential for expansion. The building features a TPO/PVC roof less than three years old. The asking rent is $5 per square foot annually, with additional operating costs to be tenant responsibility. The owner is open to creative lease terms, including an option to purchase. The property is zoned OR2 and has a frontage of 90 feet. This multi-functional space is perfect for a variety of businesses seeking a unique and adaptable location in a vibrant urban setting. All prospects are encouraged to tour the property.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
OR2-OFFICE/RESIDENTIAL · Louisville, KYLouisville. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.