1110 Logan StLouisville, KY 40204

Property Details for 1110 Logan St

Year built

1950

Lot size

0.16 AC

Property size (Sq ft)

2,782 SF

Zone code

OR2-OFFICE/RESIDENTIAL

Property type

Office buildings

APN

09025A00430000

APU

09025A00430000

Description

This exceptional, fully renovated mixed-use property in Louisville's vibrant Shelby Park neighborhood offers a compelling investment opportunity. The 3,432 square foot building, completed in 2023, features a ground floor office/retail space currently leased at $3,000/month (increasing to $3,500/month in February for a 4-year term), and two fully furnished, separately metered 1-bedroom/1-bathroom apartments. One apartment is currently rented at $1,950/month, while the second, owner-occupied unit has the potential to generate an additional $1,950/month in rental income. The property boasts 10 on-site parking spaces and is conveniently located within walking distance of numerous restaurants, breweries, and shops. High-end finishes, contemporary furnishings, and oversized windows that provide ample natural light enhance the appeal. The property is zoned OR2 and sits on a 0.17-acre lot. The asking price is $825,000, representing a pro-forma cap rate of 7.98% and a pro-forma NOI of $65,800. This two-story Class A building presents a rare opportunity to acquire a turnkey investment property in a thriving urban location. The building's recent renovation ensures minimal maintenance needs, maximizing potential returns. The strong tenant base and prime location contribute to a stable and potentially high-growth investment.

• CAP approach

  CAP return

  Valuation

  6%

  $453,292

  6.5%

  $418,424

  7%

  $388,536

• Comparable approach

  Method

  Valuation

  Relative Method

  $239,475

  Geo Method

  $239,475

• Alternative Use

  Use

  Valuation

  Residential

  $518,845

  Hospitality

  $475,259

  Educational

  $395,410

  Medical

  $409,009

  Retail

  $615,083

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2348

Longitude

-85.7401

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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