Listed by Allodium Real Estate
$935,000
217 Guthrie St
Details
APN 016A00120000
Property Type Industrial
Sub Type Parking Garage
Square Footage 23,200
Pro-Forma Cap Rate 4.80%
Pro-Forma NOI $45,000
Price per SqFt $40
Class B
Year Built 1930
Buildings 1
Stories 1
Acreage 0.533
Zoning C3 Commercial
Parking Spaces 58 spaces
Parking per 1,000 SqFt 2.50
Investment Type Value Add
Parking Garage I Industrial | 23,200 SqFt
Marketing description
Prime Downtown Louisville parking facility offering 58 total spaces (including 2 ADA). This single‑story, fee‑simple commercial garage operates as a public pay‑to‑park asset with one month‑to‑month tenant that can be terminated with 30 days’ notice. The building totals 23,200 SF with a 2.5 per 1,000 SF parking ratio. All systems are in good working order; the roof is due for repair/replacement. Located in the Central Business District with immediate access to I‑65, KY‑61, and the urban core. Ideal for investors seeking stable parking income, owner‑users, or redevelopment opportunities in a high‑demand downtown corridor.
Investment highlights
- Operating pay‑to‑park facility with consistent revenue
- ~$60,000 annual gross income
- ~$45,000 estimated NOI
- Low operating expenses and simple management
- Mix of daily transient parkers + one monthly tenant
- Strong value‑add upside through improved operations and rate optimization
- Prime urban location with steady parking demand
- Attractive price point for a cash‑flowing asset
Listing Contacts
Listed by Allodium Real Estate
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