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Madrid Building

Off-Market

545 South Third Street, Louisville, KY 40202

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Office - General Office
  • Property Size 45,900 SF
  • Lot Size 0.78 Acre
  • Parking Spaces Avail. 219
  • Parking Ratio 4.79/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 2008

Location

  • Walk Score ® Walker's Paradise (94)
  • Transit Score ® Good Transit (63)
  • Bike Score ® Very Bikeable (79)
Powered by Walk Score ®
  • City Louisville, KY
  • Neighborhood Louisville Central Business District
  • Zip Code 40202
  • Market Louisville

Points of Interest

Shell

0.30 miles

Thortons Gas

0.31 miles

LouLift Electric Bus Charger

0.43 miles

Shell

0.74 miles

Marathon Gas

1.72 miles

Speedway

1.79 miles

ChargePoint

1.88 miles

Shell

1.97 miles

Speedway

2.07 miles

Kroger

2.21 miles

YCMA Parking Lot

0.09 miles

Clay Commons

0.11 miles

JCTC Parking

0.16 miles

Starks Center Parking

0.17 miles

JCTC Parking

0.22 miles

Fourth Street Live Garage

0.25 miles

Jewish Hospital Parking Garage

0.29 miles

Jewish Hospital Parking Garage

0.32 miles

Jewish Hospital Parking Garage

0.33 miles

Louisville Gardens Garage

0.34 miles

Embassy Suites - Louisville Downtown

0.11 miles

Hilton Garden Inn - Louisville Downtown

0.12 miles

The Seelbach Hilton Hotel

0.16 miles

Omni Louisville Hotel

0.17 miles

Econo Lodge Downtown

0.24 miles

The Brown Hotel

0.24 miles

Louisville Marriott Downtown

0.27 miles

Hyatt Regency Louisville

0.27 miles

Hotel Louisville Downtown

0.30 miles

Fairfield Inn & Suites by Marriott Louisville Downtown

0.32 miles

8UP Elevated Drinkery and Kitchen

0.11 miles

Brendon's Catch 23

0.13 miles

The Oakroom

0.16 miles

Eddie Merlot's Prime Aged Beef

0.16 miles

Pizza Bar

0.18 miles

Encore on 4th

0.18 miles

Neighborhood Services

0.18 miles

Safier Mediterranean Deli

0.18 miles

Brazeiros Churrascaria

0.19 miles

Bob's Steak & Chop House

0.19 miles

Ahrens Educational Resource Center

0.14 miles

Medical College

0.14 miles

Jefferson Community and Technical College

0.21 miles

Stevens School

0.28 miles

University of Louisville - Health Science Center Campus

0.43 miles

Jefferson State Technical College - Building B

0.44 miles

Catherine Spalding College

0.51 miles

Jefferson State Technical College - Building A

0.53 miles

Keller Day Treatment Center Alternative School

0.65 miles

Saint Boniface School

0.65 miles

Rise and Shine Child Care Center

0.80 miles

Rise and Shine Child Care Center

0.80 miles

St. Benedict Center for Early Education

2.14 miles

Shiloh Community Renewal Center Day Care Center

2.70 miles

Little Achiever's Academy

2.77 miles

Kiddie Kampus Day Care

3.65 miles

Kiddo

3.67 miles

Lost Child Area

4.02 miles

Sproutlings Pediatric Day Care & Preschool

4.96 miles

Cornerstone Child Development Center

5.96 miles

Contacts

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Owner

  • True Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Date 17 Nov, 2021
  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date
  • Loan Maturity Date

Market Trends

Average Actual Rents in Louisville

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Louisville Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $18.61
  • 2020 Office Vacancy Rate 12.50%
  • 2020 Office Completions (SF) 40,000

Louisville Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per SF $194.60
  • 2020 Office Sales Volume $163.7M
  • 2020 Number of Transactions 6
View more Louisville market trends

Tax

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of Madrid Building?

Madrid Building totals 45,900 square feet.

When was this property built?

Madrid Building was built in 2008.

When was Madrid Building last sold?

Madrid Building was last sold on 17 Nov, 2021.

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