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28322415
28322414

501 Baxter Ave, Louisville, KY 40204

CE
KY KY 215132
Evans Property Management, LLC
Listed by Evans Property Management, LLC
$1,550,000
197 days on market
Updated 0 days ago

501 Baxter Ave

Details
APN 068E00380000
Property Type Office
Sub Type Medical Office, Traditional Office
Square Footage 9,840
Net Rentable (SqFt) 8,550
Units 4
Cap Rate 6.41%
NOI $99,381
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $158
Class B
Year Built 2006
Buildings 1
Stories 2
Acreage 0.272
Zoning C-1
Parking Spaces 19 spaces
Parking Per SqFt 1.93
Investment Type Value Add

Office | 6.41% CAP | 9,840 SqFt

Marketing description

501 Baxter Avenue is conveniently located on Baxter Avenue in the Highlands neighborhood directly across the street from Gravely. This modern building was built in 2006 and the interior has been recently updated over the past 2/3 years. Currently 100% occuped consiting of 4 tenants. This property is currently used as office space but the first floor could be converted to retail space down the road. There is also off street parking located in the rear of the building with 19 parking spaces. Income and expenses are estimated based on the current rent roll, 2024 expenses and 6 months of expenses in 2025. Listing agent is an owner in the property.

Constructed in 2006, this modern building is 86% occupied by 3 long-term tenants, offering immediate income potential and value-add opportunities with the vacant Suite #100. Conveniently located on Baxter Avenue, it features off-street parking and prime visibility in one of Louisville's most sought-after areas.


Investment highlights

  • Suite #100: 1,167 sq. ft. Occupied–Cholowa Productions, lease expires 6/30/27

  • Suite #125: 2,713 sq. ft. Occupied–Turtle Tree Acupuncture, lease expires 11/30/31

  • Suite #200: 2,563 sq. ft. Occupied–Embroiderers Guild of America, lease expires 10/31/29

  • Suite #201: 2,107 sq. ft. Occupied–JQOL Global, lease expires 10/31/28

Listing Contacts

CE
KY KY 215132
Evans Property Management, LLC
Listed by Evans Property Management, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$99,380.97
$8,281.75/mo

Valuation Metrics

0
DSCR
6.41%
Cap Rate
6.41%
ROI

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Additional Information

Name
Chad Evans
License
KY 215132
Brokerage
Evans Property Management, LLC
Brokerage Phone
502-410-4190
Title
Real Estate Broker
Brokerage Address
445 Baxter Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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