4860 Fegenbush Lane, Louisville, KY 40228
Commercial property for lease
- Description
- Maplewood has maintained consistently high occupancy rates (94.47% for 2013 through 2016) and has seen strong, steady growths in rents those 4 years (4.5% average annual increase in gross rent per units owned and occupied). Maplewood has outperformed average B/C apartments in Southcentral Louisville sector of Reis reports.Neighborhood has seen upgrade from recent upsurge in new growth: 60 acres of new homes developed on the other side of Fegenbush; relocation from downtown of 24-acre Mercy Academy (private K-12 Catholic girls school; over 500 students); revitalization of GE Appliance Park (fronts on Fegenbush Lane) with 2016 Haier purchase of GE to continue manufacture of home appliances; 2017 groundbreaking of 450 new, much larger, pricier apartments just past GE/Haier (Maplewood is immune to this type of competition, but benefits from added glow to general area.)Maplewood unit breakdown– 301 units comprised of:45 4-plexes (154 2BR/1B + 11 3BR/1B + 2 3BR/1/5B + 12 1BR/1B + office unit)42 townhouse (38 3BR/15B + 2 4BR/2B + 2 2BR/1.5B)4 6-plexes (23 2BR/1B + 1 1BR/1B)1 5-plex (5 2BR/1.5B)1 12-plex (12 1BR/1B)1 16-plex (16. 1BR/1B)22 units located within 5 6-plex buildings (20 2BR/1B + 2 1BR/1B)The various units were built circa 1972 and have been regularly updated. Washer/dryer hookups for most units.The neighborhood encompasses Fegenbush Lane from Bardstown Road south 1.5 miles to S. Hurstbourne Parkway/Fern Valley Road junction. In addition to GE/Haier, 5 miles directly to the west via Fern Valley Road are other major Louisville employers: Worldport (UPS air hub), the Ford Assembly Plant (retooled to produce fuel-efficient vehicles in 2011), and Louisville International Airport. Building price details: $15,700,000.
- Property Details
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Property Type: Commercial (Other) Status: Available Submarket: Low-Rise/Garden MSA: Louisville-Jefferson County Zoning: R-6 - Residential Multi-Family District Buildings: 1 Construction: Brick Terms: Cash to Seller Added: 03/24/2018 - Exterior Features
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Parking Type: Surface - Contact info
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Frank W Starks Coldwell Banker McMahan Co.
- Note
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