505 W ORMSBY AVE

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505 W ORMSBY AVE

LOUISVILLE, KY 40203-3297
Asking Price
$1.95M
Asset Type
Office
Class
Class B

What's Special

505 West Ormsby Avenue is located in the historic Old Louisville neighborhood, south of the city's central business district. Characterized by one of the largest collections of restored Victorian architecture in the United States, the area offers a professional yet residential atmosphere. The property is situated near Central Park and is accessible via Fourth Street and the South Third Street corridor. Nearby amenities include local cafes, service-oriented retail, and the University of Louisville. Public transit via TARC bus routes and proximity to Interstate 65 provide connectivity to greater Louisville and the airport. This office asset is suited for professional services, boutique firms, or non-profit organizations seeking a quieter, historic setting outside the downtown core. The layout and location cater to legal practices, architectural firms, and administrative consultants who value proximity to the courthouse and university. Typical tenants include local small businesses and creative groups that require private office suites within a walkable, high-density neighborhood. The property functions well as a satellite office or a headquarters for a local service provider looking to integrate into a established community hub.

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NOI
$80,000
Cap Rate
4.10%
DSCR
0.69
Underwater
Cash-on-Cash
-6.11%
Monthly Payment
$9,647.536
Annual Cash Flow
$-35,770.433

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