1521-1527 W Market St 7,120 SF Retail Building Louisville, KY 40203 $550,000 ($77.25/SF)

This historic commercial building, located in downtown Louisville, Kentucky, spans four separate street addresses at 1521, 1523, 1525, and 1527 West Market Street and is being offered vacant and as-is for full redevelopment. Priced at $550,000 (cash or equivalent), the property presents a rare opportunity to acquire a character-rich historic asset in the downtown core with significant value-add potential. The structure features notable architectural character, high visibility along a prime corridor, and a walkable urban setting close to offices, retail, and essential services. With no tenant relocation required, the property is well-suited for a variety of redevelopment strategies, including mixed-use retail and residential, multifamily conversion, boutique office, creative space, or other adaptive reuse projects. Strong demand for downtown mixed-use and historic renovations supports the upside potential, which can be realized through a full historic renovation, modern interior redesign, and the opportunity to achieve higher post-renovation rents or resale value.
Developers value this opportunity for its lack of existing leases, full design flexibility, and multiple exit options. With an estimated ARV of $1.7–$2.0 million, the property is well-suited for cash investors pursuing a buy–rehab–sell or buy–rehab–refinance strategy, with returns tied to execution and historic incentives. Key considerations include required historic approvals, a full rehabilitation scope, buyer due diligence, and an as-is sale. Potential exits include selling post-renovation, refinancing and holding, subdividing units if feasible, or retaining the asset as a long-term downtown investment.