3012 Duncan St

ADAPTIVE REUSE OPPORTUNITY | 3012 DUNCAN ST. Strategically positioned on the edge of Louisville’s downtown revitalization corridor, this 9,724 SF masonry shell represents a high-velocity "Basis Play" for sophisticated developers. Repositioned for immediate absorption at $30.34/SF, the asset is optimized for a Workforce Housing conversion (16-24 units) or a Last-Mile Logistics hub. The property is currently tenant-occupied, providing immediate holding income to offset carry costs, taxes, and insurance during the 6-12 month permitting and architectural phase. With solid masonry "bones," 14-16 ft interior spans, and an open floor plate, this building offers a blank canvas for high-density use. Located seconds from the I-64 interchange and the Downtown core, it is perfectly situated to meet the city's critical shortage of attainable workforce housing.

• Deep Value Basis: Offered at $295,000 (~$30/SF), significantly below market comps.
• Immediate Holding Income: Current tenancy provides cash flow during pre-development.
• 8.6% Projected Yield: Pro-forma supports high-yield stabilization for residential conversion.
• Density Advantage: EZ-1 Zoning supports 16-24 units; candidate for Adaptive Reuse Parking Waivers.
• Strategic Logistics: High-volume interior spans and I-64 proximity for industrial-flex users.
• Prime Location: Located in a major revitalization zone on the edge of the Downtown core.