9921 Ormsby Station Road, Louisville, KY 40223

$1,350,000

Property Type: Commercial Sale Square Footage: 5,560 Lot Size (sq. ft.): 54,886 Status: Closed

Current Price: $1,350,000 List Date: 9/23/2024 Last Modified: 9/03/2025

Overview

Description

FOR SALE ! Former Applebee's Restaurant property located in the very busy North Hurstbourne Parkway area, adjacent to McDonalds restaurant, and is surrounded by large office parks, hotels, retail centers, and residential neighborhoods. The property is currently leased, under a NNN lease, to Tres Amigos Mexican Restaurant, The current rent is $9,750 / month, and is scheduled to increase to $10,240 / month on May 01, 2027. There are more than 4 ½ years of lease term remaining. Current Cap Rate 7.8%

Listing Details MLS# 24019157

Listing Information

Comp Sale YN: No

Status Change Information

Status Change Timestamp: 2024-11-19
Purchase Contract Date: 2024-10-01
Close Date: 2024-11-18
Close Price: 1350000
Buyer Financing: Conventional
Sale Type: Arms Length Sale

Address

County: Jefferson
Street Number: 9921
Street Name: Ormsby Station
Street Suffix: Road
State: KY
Zip Code: 40223
Parcel Number: 320800070000

Contract

Original List Price: 1495000
Start Showing Date: 2024-09-10
Listing Contract Date: 2024-09-10
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant
Office Exclusive YN: No
List Price/SqFt: 268.88
Sold Price/SqFt: 242.81
SP/LP: 0.9

Tax Legal

MLS Area Major: 052 - Jefferson County
Subdivision Name: Commercial

Interior

Living Area: 5560
Building Area Total: 5560

More Information

Parking Information

Parking Total: 56

Building

Year Built: 2000
Stories Total: Yes

Lot

Lot Size Acres: 1.26
Lot Size Square Feet: 54886

Utilities

Cooling YN: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Remarks

Public Remarks: FOR SALE ! Former Applebee's Restaurant property located in the very busy North Hurstbourne Parkway area, adjacent to McDonalds restaurant, and is surrounded by large office parks, hotels, retail centers, and residential neighborhoods. The property is currently leased, under a NNN lease, to Tres Amigos Mexican Restaurant, The current rent is $9,750 / month, and is scheduled to increase to $10,240 / month on May 01, 2027. There are more than 4 ½ years of lease term remaining. Current Cap Rate 7.8%

Building and Property Details

# of Women's Restrooms: Yes
Maximum Ceiling Height: 10

Income and Expenses

Gross Scheduled Income: 117000
Net Operating Income: 117000

Showing Information

Showing Instructions: Please call listing broker before showing.

Tax & Legal

Tax Rate: 1.16
Zoning Description: C-1
Directions: From Lexington West on I 64, take exit 15, turn right on to Hurstbourne Parkway, then right on Ormsby Station Rd.

Association/Community

Number Of Buildings: 1

Construction Materials

Brick: Yes

Parking Features

On Site: Yes
Paved: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Roof

Flat: Yes
Membrane: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Building Features

Concrete Floor: Yes

Business Type

Restaurant: Yes

Ceiling

Dropped: Yes

Existing Lease Type

NNN: Yes

Sale Includes

Building(s): Yes
Easements: Yes
Land: Yes
Leases: Yes

Tenant Pays

Electricity: Yes
Exterior Maintenance: Yes
Gas: Yes
Insurance: Yes
Interior Maintenance: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Property Features

Utilities: Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Building Features: Concrete Floor Business Type: Restaurant Ceiling: Dropped Construction Materials: Brick Existing Lease Type: NNN Parking Features: On Site; Paved Possession: Close Of Escrow; Subject To Tenant Rights Roof: Flat; Membrane Sale Includes: Building(s); Easements; Land; Leases Sewer: Public Sewer Special Listing Conditions: Standard Tenant Pays: Electricity; Exterior Maintenance; Gas; Insurance; Interior Maintenance; Sewer; Taxes; Trash Collection; Water

Listing Office: Jack Foley Realty, LLC

Last Updated: September - 03 - 2025

Information deemed reliable but not guaranteed.