10612 Meeting StProspect, KY 40059

Property Details for 10612 Meeting St

Year built

2011

Lot size

0.06 AC

Zone code

PVD-PLANNED VILLAGE DEV

Property type

Retail properties

Property subtype

Retail space

APN

21372503170000

APU

21372503170000

Description

This exceptional Louisville, KY investment opportunity presents two meticulously built, live/work buildings situated in the highly desirable Norton Commons South Village Town Center. The property boasts a total of approximately 5,300 square feet, encompassing 2,755 square feet of commercial space across two buildings, each featuring 1,377.5 square feet of finished space with 12-14' ceilings. Currently leased to a single tenant, the flexible design allows for either one large or two separate commercial spaces. The commercial areas are ideal for medical, professional offices, or showrooms. Adding to the investment potential are two 2-bedroom, 2-bathroom luxury condo/apartments, each approximately 1,272 square feet with attached garages and private rear entrances. These units command high rental rates, comparable to similar properties in the area at $2,300-$3,100 per month. The property sits on approximately 4,900-5,000 square feet of land, offering ample space and visibility. Built in 2015, the buildings are in excellent condition and benefit from a stable leasing history with 100% occupancy across three tenants. The property includes 10 parking spaces and is zoned for Planned Village Development (PVD), allowing for a variety of uses. This unique offering combines the benefits of commercial and residential income streams in a prime location, presenting a rare opportunity for owner-users or investors seeking a high-return, low-maintenance investment. The property's location within Norton Commons, a renowned traditional town development, ensures strong demand and long-term value. Short-term rentals are permitted.

• CAP approach

  CAP return

  Valuation

  6%

  $553,959

  6.5%

  $511,346

  7%

  $474,822

• Comparable approach

  Method

  Valuation

  Relative Method

  $526,252

  Geo Method

  $526,252

• Alternative Use

  Use

  Valuation

  Residential

  $431,340

  Hospitality

  $395,105

  Educational

  $328,723

  Medical

  $340,028

  Retail

  $511,346

Location Insight

City

Prospect

County

Jefferson

State

Kentucky

Latitude

38.3234

Longitude

-85.5661

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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