Mixed-Use Asset | Stabilized Occupancy | Louisville KY

Highlights

• 3,432 SF fully renovated mixed-use building (2023 completion)
• Ground-floor commercial space leased with 4-year term and built-in rent escalation
• Two furnished 1BR/1BA apartments, separately metered
• 10-space gated parking lot — rare for this submarket
• 0.17-acre lot (7,187 SF), zoned C-2 (STR Short Term Rental eligible- buyer to verify)
• Original construction 1950; full renovation 2023 — minimal deferred maintenance
• Steps from Logan Street Market (30+ independent businesses, onsite brewery, weekly events)
• Strong walk/bike/transit scores in Louisville's Shelby Park/Germantown corridor
• Leases, P&L Available

Description

Fully renovated mixed-use investment property directly across from Louisville's iconic Logan Street Market — the city's only public market and the anchor driving Shelby Park's rapid transformation.

This 3,432 SF, two-story Class A building was completed down to the studs in 2023 with high-end finishes, contemporary fixtures, and oversized windows throughout. The ground floor delivers a versatile retail/office space currently leased formally at $3,000/month and stepped to $3,500/month in March 2025 on a four-year term ending March 2029 with no rent escalations. The upper level features two separately metered, fully furnished one-bedroom/one-bathroom apartments leased at $2,000/month each, generating consistent total $4,000/month residential income. Apartment 1 lease ends December 31, 2026. Apartment 2 lease ends May 2027.

The numbers work on day one: $850,000 asking price, $79,416 pro-forma NOI, and a 9.34% cap rate — with built-in upside as the commercial lease escalation takes effect and residential rents track the neighborhood's upward trajectory.

This is a stabilized, income-producing asset in the path of growth — ideal for investors seeking a passive hold with upside, or owner-operators looking to run a street-level business with residential income above. The renovation quality eliminates near-term capital expenditure concerns, and the Logan Street Market adjacency provides a built-in demand driver for both tenants and future buyers.

Showings by appointment: contact Rachel Friedman - Rachel@GilezanTeam.com or call 561-537-6464.

Louisville, Kentucky